M&T Bank Co. (NYSE:MTB) Shares Sold by Stone House Investment Management LLC

Stone House Investment Management LLC reduced its position in M&T Bank Co. (NYSE:MTB) by 30.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 263 shares of the financial services provider’s stock after selling 114 shares during the period. Stone House Investment Management LLC’s holdings in M&T Bank were worth $36,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Clear Street Markets LLC acquired a new position in M&T Bank during the fourth quarter worth $25,000. RVW Wealth LLC acquired a new position in M&T Bank during the third quarter worth $27,000. Quarry LP acquired a new position in M&T Bank during the first quarter worth $27,000. Sunbelt Securities Inc. acquired a new position in M&T Bank during the first quarter worth $27,000. Finally, BKM Wealth Management LLC acquired a new position in M&T Bank during the fourth quarter worth $32,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Trading Up 1.2 %

MTB stock traded up $1.71 during mid-day trading on Wednesday, hitting $139.10. 761,630 shares of the company were exchanged, compared to its average volume of 1,209,949. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $148.23. The firm has a market capitalization of $23.18 billion, a P/E ratio of 9.29, a PEG ratio of 1.30 and a beta of 0.80. The business has a fifty day simple moving average of $139.44 and a 200-day simple moving average of $132.72. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same period in the previous year, the business posted $4.09 EPS. On average, equities research analysts predict that M&T Bank Co. will post 13.89 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 Friday, March 29th. Investors of record on Monday, March 4th were issued a $1.30 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 annualized dividend and a dividend yield of 3.74%. M&T Bank’s dividend payout ratio is presently 35.16%.

Insider Activity at M&T Bank

In related news, Director Kirk W. Walters sold 28,845 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the transaction, the director now directly owns 6,367 shares in the company, valued at approximately $923,215. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Kirk W. Walters sold 28,845 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the transaction, the director now owns 6,367 shares of the company’s stock, valued at $923,215. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Doris P. Meister sold 1,675 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total transaction of $230,999.25. Following the completion of the transaction, the executive vice president now directly owns 8,961 shares of the company’s stock, valued at approximately $1,235,811.51. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,481 shares of company stock worth $5,114,624. 0.82% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MTB has been the subject of a number of recent research reports. Piper Sandler reduced their target price on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a research report on Friday, January 19th. Keefe, Bruyette & Woods increased their price objective on shares of M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a report on Tuesday. Bank of America raised their target price on shares of M&T Bank from $157.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday. Wedbush restated an “outperform” rating and issued a $170.00 price target on shares of M&T Bank in a research report on Wednesday, April 10th. Finally, Morgan Stanley lifted their price objective on M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $157.98.

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.