M&T Bank Corporation $MTB Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its position in shares of M&T Bank Corporation (NYSE:MTB) by 6.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 362,936 shares of the financial services provider’s stock after selling 25,891 shares during the quarter. Russell Investments Group Ltd.’s holdings in M&T Bank were worth $78,974,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MTB. Wedmont Private Capital boosted its position in M&T Bank by 1.0% in the second quarter. Wedmont Private Capital now owns 4,405 shares of the financial services provider’s stock worth $1,067,000 after purchasing an additional 45 shares during the last quarter. Integrity Alliance LLC. boosted its stake in shares of M&T Bank by 2.0% during the 3rd quarter. Integrity Alliance LLC. now owns 2,449 shares of the financial services provider’s stock worth $533,000 after acquiring an additional 48 shares during the last quarter. CX Institutional boosted its stake in shares of M&T Bank by 3.4% during the 2nd quarter. CX Institutional now owns 1,650 shares of the financial services provider’s stock worth $393,000 after acquiring an additional 54 shares during the last quarter. Kestra Advisory Services LLC grew its position in shares of M&T Bank by 0.4% during the 3rd quarter. Kestra Advisory Services LLC now owns 13,603 shares of the financial services provider’s stock valued at $2,960,000 after acquiring an additional 54 shares during the period. Finally, NBH Bank increased its stake in shares of M&T Bank by 26.0% in the 3rd quarter. NBH Bank now owns 271 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 56 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

M&T Bank Price Performance

Shares of MTB stock traded up $1.27 on Friday, hitting $221.05. 439,559 shares of the stock traded hands, compared to its average volume of 911,208. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.96 and a quick ratio of 0.96. M&T Bank Corporation has a 52 week low of $179.75 and a 52 week high of $255.95. The firm has a 50 day simple moving average of $222.86 and a two-hundred day simple moving average of $225.41. The firm has a market cap of $31.71 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 1.27 and a beta of 0.64.

M&T Bank (NYSE:MTB) last issued its earnings results on Friday, October 16th. The financial services provider reported $5.08 earnings per share for the quarter, topping the consensus estimate of $4.93 by $0.15. The company had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.53 billion. M&T Bank had a net margin of 22.63% and a return on equity of 11.86%. During the same quarter in the prior year, the firm posted $4.82 EPS. As a group, equities research analysts predict that M&T Bank Corporation will post 19.48 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st were issued a dividend of $1.50 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $6.00 dividend on an annualized basis and a yield of 2.7%. M&T Bank’s dividend payout ratio (DPR) is currently 31.32%.

Insider Activity

In related news, Director Rudina Seseri sold 623 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $241.04, for a total transaction of $150,167.92. Following the completion of the sale, the director owned 3,649 shares in the company, valued at approximately $879,554.96. This trade represents a 14.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Rene F. Jones sold 19,396 shares of M&T Bank stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $239.35, for a total value of $4,642,432.60. Following the sale, the chief executive officer directly owned 103,831 shares in the company, valued at $24,851,949.85. This trade represents a 15.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.44% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wall Street Zen lowered M&T Bank from a “hold” rating to a “sell” rating in a report on Saturday, November 7th. Royal Bank Of Canada decreased their price objective on M&T Bank from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Monday, October 19th. Raymond James Financial started coverage on M&T Bank in a research report on Tuesday, October 6th. They set an “outperform” rating and a $250.00 price objective on the stock. Cantor Fitzgerald cut their price objective on M&T Bank from $285.00 to $255.00 and set an “overweight” rating for the company in a research note on Wednesday, October 14th. Finally, Evercore set a $230.00 price objective on M&T Bank in a research note on Thursday, October 1st. Eight research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $244.89.

About M&T Bank

M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Founded in 1856 as Manufacturers and Traders Bank, the company operates primarily through M&T Bank and its wealth-management subsidiary, Wilmington Trust. M&T provides retail and commercial banking services, including checking and savings accounts, loans, mortgages, credit cards, and cash-management services. Through Wilmington Trust and other businesses, it also offers wealth management, trust, investment, and related financial services.