Xact Kapitalforvaltning AB Sells 2,108 Shares of M&T Bank Co. (NYSE:MTB)

Xact Kapitalforvaltning AB trimmed its position in M&T Bank Co. (NYSE:MTB) by 8.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,013 shares of the financial services provider’s stock after selling 2,108 shares during the period. Xact Kapitalforvaltning AB’s holdings in M&T Bank were worth $3,456,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. First Hawaiian Bank boosted its position in M&T Bank by 111.7% during the first quarter. First Hawaiian Bank now owns 4,265 shares of the financial services provider’s stock worth $669,000 after purchasing an additional 2,250 shares during the period. Domani Wealth LLC bought a new position in M&T Bank during the first quarter worth $217,000. Dupont Capital Management Corp boosted its position in M&T Bank by 130.2% during the first quarter. Dupont Capital Management Corp now owns 4,080 shares of the financial services provider’s stock worth $641,000 after purchasing an additional 2,308 shares during the period. National Asset Management Inc. boosted its position in M&T Bank by 21.9% during the first quarter. National Asset Management Inc. now owns 2,503 shares of the financial services provider’s stock worth $394,000 after purchasing an additional 450 shares during the period. Finally, Wakefield Asset Management LLLP bought a new position in M&T Bank during the first quarter worth $3,301,000. Institutional investors and hedge funds own 81.55% of the company’s stock.

In other M&T Bank news, insider Doris P. Meister sold 460 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $160.29, for a total value of $73,733.40. Following the transaction, the insider now directly owns 1,553 shares of the company’s stock, valued at $248,930.37. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider William J. Farrell II sold 1,476 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $169.43, for a total value of $250,078.68. Following the completion of the transaction, the insider now directly owns 13,844 shares in the company, valued at $2,345,588.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,521 shares of company stock worth $1,594,509. Company insiders own 0.54% of the company’s stock.

NYSE MTB traded up $1.35 during trading on Friday, hitting $170.07. 1,296,500 shares of the company’s stock were exchanged, compared to its average volume of 790,507. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market capitalization of $22.68 billion, a P/E ratio of 13.22, a PEG ratio of 1.51 and a beta of 1.07. M&T Bank Co. has a fifty-two week low of $133.78 and a fifty-two week high of $180.77. The firm’s 50 day moving average price is $165.36.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.30 by $0.05. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.51 billion. M&T Bank had a return on equity of 14.46% and a net margin of 30.84%. During the same period in the previous year, the business posted $2.23 earnings per share. On average, equities analysts predict that M&T Bank Co. will post 14.66 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 3rd will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Friday, May 31st. M&T Bank’s dividend payout ratio (DPR) is currently 31.10%.

A number of research firms have recently weighed in on MTB. ValuEngine raised M&T Bank from a “sell” rating to a “hold” rating in a report on Monday, May 20th. Wedbush lifted their target price on M&T Bank from $150.00 to $155.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. UBS Group set a $169.00 price target on M&T Bank and gave the company a “hold” rating in a research note on Tuesday, April 2nd. Barclays reaffirmed a “buy” rating and issued a $217.00 price target on shares of M&T Bank in a research note on Wednesday, April 17th. Finally, Zacks Investment Research downgraded M&T Bank from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $179.25.

About M&T Bank

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.

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

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