M&T Bank Co. (NYSE:MTB) Shares Sold by MGO One Seven LLC

Posted by on Apr 8th, 2023

MGO One Seven LLC reduced its stake in shares of M&T Bank Co. (NYSE:MTB – Get Rating) by 15.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,006 shares of the financial services provider’s stock after selling 546 shares during the period. MGO One Seven LLC’s holdings in M&T Bank were worth $436,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Hawaiian Bank lifted its position in M&T Bank by 1.1% during the third quarter. First Hawaiian Bank now owns 8,193 shares of the financial services provider’s stock valued at $1,444,000 after purchasing an additional 91 shares during the period. Xponance Inc. lifted its position in M&T Bank by 20.0% during the fourth quarter. Xponance Inc. now owns 20,998 shares of the financial services provider’s stock valued at $3,046,000 after purchasing an additional 3,494 shares during the period. Prudential PLC lifted its position in M&T Bank by 12.8% during the third quarter. Prudential PLC now owns 5,192 shares of the financial services provider’s stock valued at $915,000 after purchasing an additional 590 shares during the period. Raymond James & Associates lifted its position in M&T Bank by 3.9% during the third quarter. Raymond James & Associates now owns 245,119 shares of the financial services provider’s stock valued at $43,221,000 after purchasing an additional 9,266 shares during the period. Finally, CIBC Asset Management Inc lifted its position in M&T Bank by 42.2% during the third quarter. CIBC Asset Management Inc now owns 31,086 shares of the financial services provider’s stock valued at $5,481,000 after purchasing an additional 9,220 shares during the period. 84.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on MTB. Wedbush upgraded shares of M&T Bank from a “neutral” rating to an “outperform” rating and set a $170.00 target price for the company in a research report on Tuesday, January 3rd. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Saturday. Wolfe Research cut shares of M&T Bank from an “outperform” rating to a “peer perform” rating in a report on Thursday, March 23rd. Barclays cut shares of M&T Bank from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $225.00 to $194.00 in a report on Tuesday, January 3rd. Finally, Royal Bank of Canada cut their price objective on shares of M&T Bank from $190.00 to $183.00 and set an “outperform” rating for the company in a report on Friday, March 24th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $172.32.

M&T Bank Stock Up 0.1 %

MTB stock opened at $117.57 on Friday. The stock has a market capitalization of $19.76 billion, a P/E ratio of 10.21, a P/E/G ratio of 0.72 and a beta of 0.78. The firm has a 50-day simple moving average of $140.72 and a 200-day simple moving average of $155.13. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.17. M&T Bank Co. has a 52 week low of $110.00 and a 52 week high of $193.42.

M&T Bank (NYSE:MTB – Get Rating) last released its earnings results on Thursday, January 19th. The financial services provider reported $4.57 EPS for the quarter, topping analysts’ consensus estimates of $4.47 by $0.10. The business had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.37 billion. M&T Bank had a net margin of 23.15% and a return on equity of 11.41%. During the same quarter in the previous year, the company earned $3.37 earnings per share. Equities analysts forecast that M&T Bank Co. will post 17.81 earnings per share for the current fiscal year.

M&T Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Monday, March 6th were given a dividend of $1.30 per share. The ex-dividend date was Friday, March 3rd. This is a positive change from M&T Bank’s previous quarterly dividend of $1.20. This represents a $5.20 dividend on an annualized basis and a yield of 4.42%. M&T Bank’s payout ratio is presently 45.14%.

M&T Bank Company Profile

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M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management and investment services. It operates through the following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.

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Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

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