M&T Bank Corporation $MTB Shares Sold by DNB Asset Management AS

DNB Asset Management AS lessened its position in shares of M&T Bank Corporation (NYSE:MTB) by 9.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 100,683 shares of the financial services provider’s stock after selling 10,659 shares during the quarter. DNB Asset Management AS owned about 0.07% of M&T Bank worth $19,897,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Crestwood Advisors Group LLC boosted its holdings in shares of M&T Bank by 1.7% in the second quarter. Crestwood Advisors Group LLC now owns 3,237 shares of the financial services provider’s stock valued at $628,000 after acquiring an additional 54 shares during the period. Arkadios Wealth Advisors raised its position in M&T Bank by 5.1% in the 2nd quarter. Arkadios Wealth Advisors now owns 1,312 shares of the financial services provider’s stock valued at $254,000 after purchasing an additional 64 shares during the last quarter. Gamco Investors INC. ET AL boosted its stake in M&T Bank by 0.3% during the 2nd quarter. Gamco Investors INC. ET AL now owns 20,489 shares of the financial services provider’s stock worth $3,975,000 after purchasing an additional 67 shares during the period. Wedbush Securities Inc. boosted its stake in M&T Bank by 3.3% during the 3rd quarter. Wedbush Securities Inc. now owns 2,171 shares of the financial services provider’s stock worth $429,000 after purchasing an additional 70 shares during the period. Finally, Geneos Wealth Management Inc. grew its position in M&T Bank by 4.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,727 shares of the financial services provider’s stock worth $335,000 after purchasing an additional 71 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Activity

In related news, Vice Chairman Gary N. Geisel sold 887 shares of the firm’s stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $215.79, for a total value of $191,405.73. Following the completion of the sale, the insider owned 16,446 shares in the company, valued at $3,548,882.34. This trade represents a 5.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kirk W. Walters sold 909 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $227.37, for a total transaction of $206,679.33. Following the sale, the director directly owned 5,976 shares in the company, valued at approximately $1,358,763.12. This represents a 13.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 40,855 shares of company stock worth $9,341,446 in the last 90 days. 0.53% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on MTB. Truist Financial set a $230.00 target price on shares of M&T Bank in a report on Tuesday, January 20th. Wolfe Research downgraded M&T Bank from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. UBS Group increased their price objective on M&T Bank from $217.00 to $230.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Robert W. Baird boosted their target price on M&T Bank from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, December 18th. Finally, TD Cowen restated a “buy” rating on shares of M&T Bank in a research note on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, M&T Bank presently has an average rating of “Hold” and an average price target of $228.50.

M&T Bank Stock Performance

Shares of MTB stock opened at $216.56 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.41. The stock has a 50 day simple moving average of $218.15 and a 200-day simple moving average of $201.43. The company has a market cap of $32.27 billion, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 0.99 and a beta of 0.60. M&T Bank Corporation has a 12-month low of $150.75 and a 12-month high of $239.00.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.72 earnings per share for the quarter, beating analysts’ consensus estimates of $4.47 by $0.25. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $2.47 billion. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.During the same period in the previous year, the business earned $3.77 earnings per share. On average, equities analysts forecast that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 2nd will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.8%. M&T Bank’s dividend payout ratio is 35.19%.

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.