M&T Bank Corporation $MTB Shares Sold by Sound Income Strategies LLC

Sound Income Strategies LLC trimmed its position in shares of M&T Bank Corporation (NYSE:MTB) by 5.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,685 shares of the financial services provider’s stock after selling 5,882 shares during the quarter. M&T Bank makes up about 1.0% of Sound Income Strategies LLC’s portfolio, making the stock its 29th biggest holding. Sound Income Strategies LLC owned 0.06% of M&T Bank worth $18,745,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Canoe Financial LP boosted its stake in shares of M&T Bank by 24,443.7% during the 2nd quarter. Canoe Financial LP now owns 295,506 shares of the financial services provider’s stock worth $57,325,000 after acquiring an additional 294,302 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of M&T Bank by 20.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,097,864 shares of the financial services provider’s stock valued at $196,243,000 after buying an additional 187,780 shares in the last quarter. Strs Ohio acquired a new position in shares of M&T Bank during the 1st quarter worth approximately $29,566,000. SG Americas Securities LLC lifted its position in shares of M&T Bank by 932.4% during the 2nd quarter. SG Americas Securities LLC now owns 100,169 shares of the financial services provider’s stock valued at $19,432,000 after buying an additional 90,466 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in M&T Bank by 231.7% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 128,653 shares of the financial services provider’s stock valued at $22,997,000 after acquiring an additional 89,868 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MTB has been the subject of a number of research analyst reports. 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. Keefe, Bruyette & Woods upped their price target on shares of M&T Bank from $220.00 to $230.00 and gave the stock a “market perform” rating in a research report on Wednesday. TD Cowen raised their price target on shares of M&T Bank from $235.00 to $245.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Cowen reissued a “buy” rating on shares of M&T Bank in a report on Monday, October 20th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of M&T Bank in a report on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $214.62.

Insiders Place Their Bets

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

M&T Bank Stock Performance

Shares of M&T Bank stock opened at $205.96 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.97 and a current ratio of 0.97. The business’s 50 day moving average price is $189.14 and its 200 day moving average price is $192.03. The company has a market cap of $31.65 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 0.98 and a beta of 0.61. M&T Bank Corporation has a one year low of $150.75 and a one year high of $208.09.

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

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st will be paid a $1.50 dividend. This represents a $6.00 annualized dividend 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 36.95%.

M&T Bank Company Profile

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.