M&T Bank Co. (NYSE:MTB) Shares Sold by YorkBridge Wealth Partners LLC

YorkBridge Wealth Partners LLC decreased its holdings in shares of M&T Bank Co. (NYSE:MTBGet Rating) by 6.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,265 shares of the financial services provider’s stock after selling 229 shares during the period. YorkBridge Wealth Partners LLC’s holdings in M&T Bank were worth $520,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MTB. Riverview Trust Co acquired a new position in M&T Bank during the 1st quarter worth approximately $27,000. Bank of New Hampshire purchased a new stake in shares of M&T Bank during the 1st quarter worth approximately $34,000. Cordasco Financial Network purchased a new stake in shares of M&T Bank during the 1st quarter worth approximately $34,000. J.W. Cole Advisors Inc. purchased a new stake in shares of M&T Bank during the 1st quarter worth approximately $34,000. Finally, Tcwp LLC purchased a new stake in shares of M&T Bank during the 1st quarter worth approximately $36,000. Institutional investors and hedge funds own 82.24% of the company’s stock.

M&T Bank Trading Down 1.3 %

MTB stock opened at $183.20 on Friday. The company has a market cap of $32.87 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 0.83 and a beta of 0.88. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $180.56 and a 200-day simple moving average of $172.85. M&T Bank Co. has a 52 week low of $138.01 and a 52 week high of $193.42.

M&T Bank (NYSE:MTBGet Rating) last announced its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.10. M&T Bank had a return on equity of 10.76% and a net margin of 23.21%. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the prior year, the firm earned $3.45 EPS. On average, equities research analysts expect that M&T Bank Co. will post 15.19 EPS for the current year.

M&T Bank declared that its Board of Directors has approved a stock repurchase program on Tuesday, July 19th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 9.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 1st will be issued a $1.20 dividend. The ex-dividend date is Wednesday, August 31st. This represents a $4.80 annualized dividend and a yield of 2.62%. M&T Bank’s dividend payout ratio is currently 44.61%.

Insider Activity at M&T Bank

In related news, EVP D Scott N. Warman sold 2,000 shares of the stock in a transaction on Friday, September 9th. The stock was sold at an average price of $188.55, for a total value of $377,100.00. Following the completion of the sale, the executive vice president now directly owns 8,349 shares in the company, valued at approximately $1,574,203.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Kirk W. Walters sold 21,116 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $180.00, for a total transaction of $3,800,880.00. Following the completion of the sale, the director now directly owns 6,134 shares in the company, valued at $1,104,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP D Scott N. Warman sold 2,000 shares of the firm’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $188.55, for a total value of $377,100.00. Following the sale, the executive vice president now owns 8,349 shares of the company’s stock, valued at $1,574,203.95. The disclosure for this sale can be found here. In the last three months, insiders sold 30,656 shares of company stock worth $5,604,091. Corporate insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Robert W. Baird raised M&T Bank from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $175.00 to $200.00 in a research note on Friday, June 17th. Deutsche Bank Aktiengesellschaft boosted their price target on M&T Bank from $200.00 to $255.00 and gave the stock a “buy” rating in a research note on Monday, September 12th. Wells Fargo & Company reduced their target price on M&T Bank from $195.00 to $175.00 and set an “equal weight” rating on the stock in a research note on Friday, July 1st. Wolfe Research reduced their target price on M&T Bank from $214.00 to $187.00 and set an “outperform” rating on the stock in a research note on Thursday, May 26th. Finally, StockNews.com lowered M&T Bank from a “hold” rating to a “sell” rating in a research note on Saturday, September 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $202.64.

About M&T Bank

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M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial lending and leasing, letters of credit, and cash management services for middle-market and large commercial customers.

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Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

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