M&T Bank Co. (NYSE:MTB) Shares Sold by ING Groep NV

ING Groep NV lowered its stake in M&T Bank Co. (NYSE:MTB) by 59.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,417 shares of the financial services provider’s stock after selling 12,220 shares during the period. ING Groep NV’s holdings in M&T Bank were worth $1,499,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MTB. Plato Investment Management Ltd raised its stake in M&T Bank by 2,300.0% in the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 161 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of M&T Bank in the third quarter valued at about $32,000. Hexagon Capital Partners LLC raised its stake in shares of M&T Bank by 54.4% in the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 68 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of M&T Bank by 329.2% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 158 shares during the period. Finally, Oakworth Capital Inc. acquired a new stake in shares of M&T Bank during the second quarter worth about $35,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Denis J. Salamone sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the sale, the director now directly owns 44,902 shares in the company, valued at $7,724,491.06. This represents a 18.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John P. Barnes sold 20,000 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $193.97, for a total transaction of $3,879,400.00. Following the transaction, the director now owns 49,960 shares in the company, valued at $9,690,741.20. The trade was a 28.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,383 shares of company stock worth $13,576,801. 0.82% of the stock is owned by corporate insiders.

M&T Bank Price Performance

M&T Bank stock opened at $214.74 on Monday. The stock has a market capitalization of $35.63 billion, a P/E ratio of 15.89, a P/E/G ratio of 3.02 and a beta of 0.74. The company’s fifty day moving average price is $187.11 and its 200 day moving average price is $167.36. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99. M&T Bank Co. has a 1 year low of $123.37 and a 1 year high of $216.84.

M&T Bank (NYSE:MTB) last released its earnings results on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.30 billion. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. As a group, equities research analysts anticipate that M&T Bank Co. will post 14.56 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend was Tuesday, September 3rd. M&T Bank’s dividend payout ratio is presently 39.97%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MTB shares. DA Davidson increased their price target on shares of M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Royal Bank of Canada boosted their target price on shares of M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. raised M&T Bank from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $183.00 to $215.00 in a research report on Tuesday, September 3rd. Finally, Barclays boosted their price objective on M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $199.65.

M&T Bank Company Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.