ST Germain D J Co. Inc. Has $2.65 Million Stock Position in M&T Bank Co. (NYSE:MTB)

ST Germain D J Co. Inc. decreased its holdings in shares of M&T Bank Co. (NYSE:MTB) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,107 shares of the financial services provider’s stock after selling 88 shares during the quarter. ST Germain D J Co. Inc.’s holdings in M&T Bank were worth $2,652,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Plato Investment Management Ltd boosted its holdings in shares of M&T Bank by 2,300.0% during the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after buying an additional 161 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of M&T Bank during the 3rd quarter worth $32,000. Hexagon Capital Partners LLC boosted its holdings in shares of M&T Bank by 54.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after buying an additional 68 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of M&T Bank by 329.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after buying an additional 158 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in shares of M&T Bank during the 3rd quarter worth $44,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Transactions at M&T Bank

In related news, CEO Rene F. Jones sold 23,071 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 77,226 shares in the company, valued at $14,972,576.88. This represents a 23.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Tracy S. Woodrow sold 2,121 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total transaction of $468,210.75. Following the completion of the transaction, the executive vice president now owns 5,141 shares in the company, valued at $1,134,875.75. This represents a 29.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 84,994 shares of company stock worth $17,211,278. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MTB shares. The Goldman Sachs Group upped their price objective on shares of M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Compass Point upped their price objective on shares of M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Royal Bank of Canada increased their price target on shares of M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Wolfe Research raised shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price target for the company in a report on Friday, October 4th. Finally, Keefe, Bruyette & Woods increased 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 report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $216.86.

M&T Bank Price Performance

Shares of MTB stock opened at $187.82 on Friday. M&T Bank Co. has a 1 year low of $128.31 and a 1 year high of $225.70. The firm’s 50 day moving average is $203.16 and its 200-day moving average is $181.84. The firm has a market capitalization of $31.16 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 2.79 and a beta of 0.79. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.30 billion. Sell-side analysts forecast that M&T Bank Co. will post 14.63 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were given a dividend of $1.35 per share. The ex-dividend date was Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.88%. M&T Bank’s payout ratio is 39.97%.

M&T Bank Company 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.