Rhino Investment Partners Inc Decreases Stake in M&T Bank Corporation $MTB

Rhino Investment Partners Inc decreased its holdings in shares of M&T Bank Corporation (NYSE:MTB) by 57.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,478 shares of the financial services provider’s stock after selling 55,433 shares during the quarter. M&T Bank comprises about 2.6% of Rhino Investment Partners Inc’s portfolio, making the stock its 17th biggest holding. Rhino Investment Partners Inc’s holdings in M&T Bank were worth $8,197,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Gamco Investors INC. ET AL boosted its position in M&T Bank by 0.3% during the second quarter. Gamco Investors INC. ET AL now owns 20,489 shares of the financial services provider’s stock worth $3,975,000 after acquiring an additional 67 shares during the last quarter. Wedbush Securities Inc. raised its holdings in M&T Bank by 3.3% in the 3rd quarter. Wedbush Securities Inc. now owns 2,171 shares of the financial services provider’s stock valued at $429,000 after acquiring an additional 70 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in M&T Bank by 4.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,727 shares of the financial services provider’s stock valued at $335,000 after acquiring an additional 71 shares during the last quarter. Westside Investment Management Inc. lifted its stake in M&T Bank by 61.8% in the 3rd quarter. Westside Investment Management Inc. now owns 199 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 76 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of M&T Bank by 29.6% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 359 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 82 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Trading Down 1.0%

MTB opened at $196.31 on Friday. M&T Bank Corporation has a one year low of $150.75 and a one year high of $239.00. The stock has a market capitalization of $29.25 billion, a PE ratio of 11.51, a P/E/G ratio of 0.87 and a beta of 0.58. The business’s 50 day moving average price is $219.08 and its 200 day moving average price is $202.56. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.96 and a current ratio of 0.96.

M&T Bank (NYSE:MTB) last posted its earnings results on Friday, January 16th. The financial services provider reported $4.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.47 by $0.25. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter last year, the firm earned $3.77 earnings per share. As a group, equities research analysts expect that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 2nd will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, March 2nd. M&T Bank’s dividend payout ratio (DPR) is presently 35.19%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MTB shares. The Goldman Sachs Group upped their price target on M&T Bank from $230.00 to $231.00 and gave the company a “neutral” rating in a research report on Tuesday, January 20th. TD Cowen reissued a “buy” rating on shares of M&T Bank in a research note on Wednesday, January 7th. Citigroup raised their target price on M&T Bank from $215.00 to $225.00 and gave the stock a “neutral” rating in a research note on Friday, January 2nd. Jefferies Financial Group lifted their price target on M&T Bank from $255.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Finally, Truist Financial set a $230.00 price target on shares of M&T Bank in a research report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $232.87.

Insider Activity at M&T Bank

In related news, EVP Michael A. Wisler sold 8,237 shares of the business’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $223.48, for a total value of $1,840,804.76. Following the sale, the executive vice president directly owned 4,643 shares in the company, valued at approximately $1,037,617.64. The trade was a 63.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kirk W. Walters sold 909 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $227.37, for a total transaction of $206,679.33. Following the completion of the transaction, the director directly owned 5,976 shares in the company, valued at $1,358,763.12. The trade was a 13.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 49,092 shares of company stock valued at $11,182,250 in the last quarter. Corporate insiders own 0.53% of the company’s stock.

M&T Bank Profile

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.