M&T Bank Corporation $MTB Shares Sold by Boston Trust Walden Corp

Boston Trust Walden Corp lowered its position in shares of M&T Bank Corporation (NYSE:MTB) by 83.3% in the third quarter, Holdings Channel reports. The institutional investor owned 8,170 shares of the financial services provider’s stock after selling 40,842 shares during the period. Boston Trust Walden Corp’s holdings in M&T Bank were worth $1,615,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC increased its stake in shares of M&T Bank by 2,214.3% during the second quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 155 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new stake in M&T Bank in the second quarter valued at about $36,000. Family Legacy Financial Solutions LLC purchased a new stake in M&T Bank in the 2nd quarter valued at approximately $46,000. Cullen Frost Bankers Inc. increased its position in M&T Bank by 1,109.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 254 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 233 shares during the period. Finally, CYBER HORNET ETFs LLC purchased a new position in shares of M&T Bank during the 2nd quarter worth approximately $84,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Stock Performance

Shares of NYSE MTB opened at $203.53 on Wednesday. The company has a 50-day simple moving average of $192.44 and a 200-day simple moving average of $193.26. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market cap of $31.28 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 0.98 and a beta of 0.61. M&T Bank Corporation has a 12 month low of $150.75 and a 12 month high of $208.26.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share (EPS) for the quarter. M&T Bank had a net margin of 20.91% and a return on equity of 10.62%. The business had revenue of $1.54 billion for the quarter. On average, equities analysts anticipate that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, December 1st. M&T Bank’s dividend payout ratio is currently 36.95%.

Insider Buying and Selling at M&T Bank

In other news, EVP Christopher E. Kay sold 5,250 shares of M&T Bank stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $191.70, for a total value of $1,006,425.00. Following the completion of the sale, the executive vice president owned 5,501 shares of the company’s stock, valued at $1,054,541.70. The trade was a 48.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert E. Sadler, Jr. sold 6,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $190.06, for a total value of $1,140,360.00. Following the completion of the transaction, the director owned 17,070 shares of the company’s stock, valued at $3,244,324.20. The trade was a 26.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.53% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MTB has been the subject of several recent analyst reports. UBS Group raised their price target on M&T Bank from $207.00 to $208.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. Truist Financial cut M&T Bank from a “buy” rating to a “hold” rating and set a $217.00 price objective for the company. in a research report on Friday, December 12th. Evercore ISI boosted their target price on shares of M&T Bank from $222.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Wall Street Zen upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Jefferies Financial Group lifted their target price on shares of M&T Bank from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $217.26.

About M&T Bank

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.