Trust Co. of Vermont Has $2.88 Million Stock Holdings in M&T Bank Co. (NYSE:MTB)

Trust Co. of Vermont reduced its holdings in M&T Bank Co. (NYSE:MTB) by 0.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 16,160 shares of the financial services provider’s stock after selling 130 shares during the quarter. Trust Co. of Vermont’s holdings in M&T Bank were worth $2,878,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MTB. Ontario Teachers Pension Plan Board boosted its holdings in M&T Bank by 43.1% in the first quarter. Ontario Teachers Pension Plan Board now owns 12,423 shares of the financial services provider’s stock valued at $1,807,000 after acquiring an additional 3,739 shares during the last quarter. Leuthold Group LLC acquired a new stake in shares of M&T Bank during the first quarter worth $3,125,000. Sumitomo Mitsui Trust Holdings Inc. raised its stake in M&T Bank by 7.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 497,503 shares of the financial services provider’s stock worth $72,357,000 after buying an additional 35,692 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in M&T Bank by 5.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 331,868 shares of the financial services provider’s stock valued at $48,267,000 after buying an additional 18,566 shares during the period. Finally, Gateway Investment Advisers LLC boosted its position in M&T Bank by 60.0% during the second quarter. Gateway Investment Advisers LLC now owns 32,799 shares of the financial services provider’s stock valued at $4,964,000 after acquiring an additional 12,304 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Down 0.7 %

Shares of NYSE:MTB opened at $197.55 on Friday. The stock has a market cap of $32.96 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 3.27 and a beta of 0.75. The business’s 50 day moving average is $172.93 and its 200 day moving average is $158.65. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $200.94. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.50 by $0.23. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. The firm had revenue of $3.37 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the prior year, the business posted $5.12 EPS. On average, sell-side analysts forecast that M&T Bank Co. will post 14.16 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were paid a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a yield of 2.73%. M&T Bank’s dividend payout ratio (DPR) is 36.51%.

Insiders Place Their Bets

In related news, Director Kirk W. Walters sold 7,464 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $173.97, for a total transaction of $1,298,512.08. Following the completion of the sale, the director now directly owns 15,045 shares of the company’s stock, valued at approximately $2,617,378.65. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Robert E. Sadler, Jr. sold 1,000 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total transaction of $172,230.00. Following the completion of the transaction, the director now owns 31,796 shares in the company, valued at approximately $5,476,225.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kirk W. Walters sold 7,464 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $173.97, for a total transaction of $1,298,512.08. Following the sale, the director now owns 15,045 shares of the company’s stock, valued at $2,617,378.65. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,699 shares of company stock valued at $5,115,349 in the last 90 days. 0.82% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MTB has been the subject of several research analyst reports. Evercore ISI raised M&T Bank from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $187.00 to $210.00 in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. upgraded M&T Bank from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $183.00 to $215.00 in a report on Tuesday, September 3rd. Jefferies Financial Group lifted their price objective on shares of M&T Bank from $160.00 to $161.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Bank of America boosted their target price on shares of M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research report on Friday. Finally, Citigroup raised their price target on shares of M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, M&T Bank presently has a consensus rating of “Hold” and an average price target of $196.18.

About M&T Bank

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.