M&T Bank Co. (NYSE:MTB) Shares Sold by KBC Group NV

KBC Group NV lowered its holdings in M&T Bank Co. (NYSE:MTB) by 35.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 286,823 shares of the financial services provider’s stock after selling 157,821 shares during the quarter. KBC Group NV owned 0.17% of M&T Bank worth $51,089,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Marshall Wace LLP grew its holdings in M&T Bank by 232.1% in the second quarter. Marshall Wace LLP now owns 676,745 shares of the financial services provider’s stock valued at $102,432,000 after purchasing an additional 472,997 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in shares of M&T Bank by 77.0% in the 2nd quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock worth $110,993,000 after buying an additional 319,051 shares in the last quarter. Canoe Financial LP grew its stake in M&T Bank by 29.4% in the 3rd quarter. Canoe Financial LP now owns 588,302 shares of the financial services provider’s stock valued at $103,200,000 after acquiring an additional 133,748 shares during the last quarter. International Assets Investment Management LLC increased its holdings in M&T Bank by 17,784.1% during the 3rd quarter. International Assets Investment Management LLC now owns 110,166 shares of the financial services provider’s stock valued at $19,623,000 after acquiring an additional 109,550 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in M&T Bank by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock worth $244,129,000 after acquiring an additional 93,113 shares during the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MTB has been the topic of several research reports. Evercore ISI increased their price target on shares of M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Morgan Stanley boosted their price target on M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Piper Sandler boosted their price target on M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Bank of America increased their price objective on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Wedbush upped their target price on shares of M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. One investment 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $198.76.

M&T Bank Trading Up 0.6 %

Shares of MTB opened at $213.27 on Friday. M&T Bank Co. has a twelve month low of $123.37 and a twelve month high of $216.84. The firm has a market capitalization of $35.39 billion, a P/E ratio of 15.79, a price-to-earnings-growth ratio of 3.00 and a beta of 0.74. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44. The stock’s fifty day simple moving average is $185.26 and its 200 day simple moving average is $166.25.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. On average, equities research analysts forecast that M&T Bank Co. will post 14.56 earnings per share for the current year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 2.53%. M&T Bank’s dividend payout ratio (DPR) is 39.97%.

Insiders Place Their Bets

In related news, Director Kirk W. Walters sold 2,471 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $24.60, for a total transaction of $60,786.60. Following the transaction, the director now directly owns 20,414 shares of the company’s stock, valued at approximately $502,184.40. The trade was a 10.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 transaction 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. This trade represents a 23.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,854 shares of company stock worth $13,637,588 over the last ninety days. 0.82% of the stock is owned by company insiders.

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.