Handelsbanken Fonder AB Sells 20,387 Shares of M&T Bank Co. (NYSE:MTB)

Handelsbanken Fonder AB trimmed its holdings in shares of M&T Bank Co. (NYSE:MTB) by 32.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,685 shares of the financial services provider’s stock after selling 20,387 shares during the quarter. Handelsbanken Fonder AB’s holdings in M&T Bank were worth $5,714,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Invesco Ltd. grew its holdings in M&T Bank by 15.5% during the 3rd quarter. Invesco Ltd. now owns 4,840,950 shares of the financial services provider’s stock worth $612,138,000 after acquiring an additional 650,796 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in M&T Bank by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,595,687 shares of the financial services provider’s stock worth $454,675,000 after acquiring an additional 41,790 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in M&T Bank by 29.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,726,434 shares of the financial services provider’s stock worth $218,308,000 after acquiring an additional 393,116 shares during the last quarter. Northern Trust Corp boosted its stake in shares of M&T Bank by 3.7% in the 3rd quarter. Northern Trust Corp now owns 1,671,837 shares of the financial services provider’s stock valued at $211,404,000 after purchasing an additional 59,690 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of M&T Bank by 20.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,613,660 shares of the financial services provider’s stock valued at $204,047,000 after purchasing an additional 270,819 shares during the last quarter. 84.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $160.00 price objective on shares of M&T Bank in a research note on Tuesday, April 16th. Wedbush reaffirmed an “outperform” rating and issued a $170.00 price objective on shares of M&T Bank in a research note on Wednesday, April 10th. Bank of America upped their price objective on shares of M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. upped their price objective on shares of M&T Bank from $170.00 to $180.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, Jefferies Financial Group reduced their price objective on shares of M&T Bank from $154.00 to $151.00 and set a “hold” rating on the stock in a research note on Monday, April 8th. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, M&T Bank currently has an average rating of “Hold” and an average target price of $158.48.

M&T Bank Stock Performance

MTB opened at $146.90 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. The company’s fifty day moving average price is $140.84 and its two-hundred day moving average price is $133.63. M&T Bank Co. has a 1-year low of $108.53 and a 1-year high of $148.25. The company has a market cap of $24.48 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 1.24 and a beta of 0.80.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.13 by ($0.11). M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the company posted $4.09 EPS. On average, analysts expect that M&T Bank Co. will post 13.92 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were issued a $1.30 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 annualized dividend and a dividend yield of 3.54%. M&T Bank’s dividend payout ratio is currently 35.16%.

Insider Activity

In other news, EVP Doris P. Meister sold 1,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $132.30, for a total value of $132,300.00. Following the completion of the sale, the executive vice president now owns 7,274 shares in the company, valued at $962,350.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Doris P. Meister sold 1,675 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $137.91, for a total value of $230,999.25. Following the completion of the sale, the executive vice president now owns 8,961 shares in the company, valued at $1,235,811.51. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Doris P. Meister sold 1,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $132.30, for a total transaction of $132,300.00. Following the completion of the sale, the executive vice president now owns 7,274 shares of the company’s stock, valued at approximately $962,350.20. The disclosure for this sale can be found here. Insiders sold a total of 37,119 shares of company stock worth $5,341,012 over the last quarter. Insiders own 0.82% of the company’s stock.

M&T Bank Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.