Old Port Advisors Sells 197 Shares of M&T Bank Co. (NYSE:MTB)

Old Port Advisors lessened its holdings in M&T Bank Co. (NYSE:MTB) by 2.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,697 shares of the financial services provider’s stock after selling 197 shares during the period. Old Port Advisors’ holdings in M&T Bank were worth $1,823,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in shares of M&T Bank by 1.4% in the third quarter. Principal Financial Group Inc. now owns 199,111 shares of the financial services provider’s stock worth $35,466,000 after purchasing an additional 2,797 shares during the last quarter. Oddo BHF Asset Management Sas bought a new stake in M&T Bank during the third quarter worth $1,834,000. Franklin Resources Inc. raised its position in M&T Bank by 45.5% in the 3rd quarter. Franklin Resources Inc. now owns 21,481 shares of the financial services provider’s stock valued at $3,986,000 after buying an additional 6,717 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its stake in M&T Bank by 80.6% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 13,901 shares of the financial services provider’s stock valued at $2,476,000 after acquiring an additional 6,205 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its stake in shares of M&T Bank by 14.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 15,767 shares of the financial services provider’s stock worth $2,808,000 after acquiring an additional 2,018 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their price target on shares of M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $223.50 target price (up previously from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. Bank of America increased their price target on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Wells Fargo & Company boosted their price objective on M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a research report on Friday, November 15th. Finally, DA Davidson raised their target price on M&T Bank from $192.00 to $207.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $215.50.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, CEO Rene F. Jones sold 23,071 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $193.88, for a total value of $4,473,005.48. Following the completion of the sale, the chief executive officer now directly owns 77,226 shares of the company’s stock, valued at $14,972,576.88. The trade was a 23.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John P. Barnes sold 20,000 shares of M&T Bank stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $193.97, for a total value of $3,879,400.00. Following the completion of the transaction, the director now directly owns 49,960 shares in the company, valued at $9,690,741.20. This trade represents a 28.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 84,994 shares of company stock valued at $17,211,278 in the last three months. Company insiders own 0.82% of the company’s stock.

M&T Bank Stock Performance

Shares of NYSE:MTB traded up $0.44 during trading on Thursday, hitting $188.45. 273,951 shares of the company were exchanged, compared to its average volume of 1,050,019. The company has a market cap of $31.27 billion, a PE ratio of 13.95, a P/E/G ratio of 2.83 and a beta of 0.76. M&T Bank Co. has a 52-week low of $128.31 and a 52-week high of $225.70. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a 50 day moving average of $203.75 and a 200 day moving average of $179.95.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.60 by $0.48. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. The business had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.30 billion. As a group, equities research analysts predict that M&T Bank Co. will post 14.63 EPS for the current year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend was Monday, December 2nd. M&T Bank’s dividend payout ratio is presently 39.97%.

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.