2,592 M&T Bank Corporation $MTB Shares Sold by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY lowered its stake in shares of M&T Bank Corporation (NYSE:MTB) by 1.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 263,177 shares of the financial services provider’s stock after selling 2,592 shares during the period. M&T Bank accounts for about 1.5% of Miller Howard Investments Inc. NY’s investment portfolio, making the stock its 25th biggest holding. Miller Howard Investments Inc. NY’s holdings in M&T Bank were worth $57,267,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of MTB. Eastern Bank boosted its stake in M&T Bank by 259.2% in the third quarter. Eastern Bank now owns 24,456 shares of the financial services provider’s stock valued at $5,322,000 after acquiring an additional 17,647 shares in the last quarter. Danske Bank A S acquired a new position in shares of M&T Bank during the second quarter worth $34,683,000. Envestnet Asset Management Inc. increased its position in shares of M&T Bank by 3.6% during the second quarter. Envestnet Asset Management Inc. now owns 318,844 shares of the financial services provider’s stock worth $75,888,000 after purchasing an additional 11,169 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its position in shares of M&T Bank by 205.4% during the second quarter. Susquehanna Fundamental Investments LLC now owns 110,553 shares of the financial services provider’s stock worth $26,313,000 after purchasing an additional 74,353 shares in the last quarter. Finally, Amundi lifted its holdings in shares of M&T Bank by 7.7% during the 2nd quarter. Amundi now owns 388,916 shares of the financial services provider’s stock valued at $92,566,000 after purchasing an additional 27,795 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Up 0.1%

NYSE:MTB opened at $221.99 on Tuesday. The company has a market cap of $32.06 billion, a PE ratio of 11.59, a P/E/G ratio of 1.28 and a beta of 0.61. M&T Bank Corporation has a twelve month low of $179.32 and a twelve month high of $255.95. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.54. The company’s 50 day moving average is $228.90 and its two-hundred day moving average is $224.77.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Friday, October 16th. The financial services provider reported $5.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.93 by $0.15. The business had revenue of $2.54 billion for the quarter, compared to analyst estimates 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 business posted $4.82 EPS. Analysts anticipate that M&T Bank Corporation will post 19.48 EPS for the current year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st were paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Tuesday, September 1st. M&T Bank’s payout ratio is presently 31.32%.

Analyst Ratings Changes

Several analysts have recently commented on MTB shares. Royal Bank Of Canada decreased their price objective on M&T Bank from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Monday, October 19th. Wall Street Zen upgraded M&T Bank from a “sell” rating to a “hold” rating in a research note on Monday, July 20th. Morgan Stanley dropped their target price on M&T Bank from $301.00 to $294.00 and set an “overweight” rating on the stock in a research note on Monday, October 19th. Citigroup upped their target price on M&T Bank from $225.00 to $230.00 and gave the company a “neutral” rating in a research report on Wednesday, October 21st. Finally, UBS Group decreased their price target on M&T Bank from $255.00 to $238.00 and set a “neutral” rating for the company in a research note on Monday, October 5th. Eight investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $247.12.

Insiders Place Their Bets

In related news, CEO Rene F. Jones sold 19,396 shares of the company’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $239.35, for a total value of $4,642,432.60. Following the transaction, the chief executive officer directly owned 103,831 shares of the company’s stock, valued at $24,851,949.85. This represents a 15.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rudina Seseri sold 623 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $241.04, for a total value of $150,167.92. Following the completion of the transaction, the director owned 3,649 shares of the company’s stock, valued at $879,554.96. This trade represents a 14.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 20,028 shares of company stock worth $4,794,884 over the last three months. Corporate insiders own 0.44% of the company’s stock.

About M&T Bank

M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Its principal banking subsidiary, M&T Bank, was founded in 1856 and provides financial products and services to individuals, businesses and institutions.

The company’s offerings include consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, credit cards, treasury management and other banking services. Through its wealth management and institutional businesses, including Wilmington Trust, M&T also provides investment management, fiduciary, trust, estate planning and related corporate services.

M&T Bank serves customers through branch locations and digital banking channels in several states, primarily across the Mid-Atlantic and Northeast, including New York, Pennsylvania, Maryland, New Jersey, Delaware, Virginia, West Virginia and the District of Columbia.