M&T Bank Corporation $MTB Shares Sold by Robinson Value Management Ltd.

Robinson Value Management Ltd. lessened its holdings in shares of M&T Bank Corporation (NYSE:MTB) by 10.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,187 shares of the financial services provider’s stock after selling 2,720 shares during the quarter. M&T Bank makes up about 2.8% of Robinson Value Management Ltd.’s investment portfolio, making the stock its 7th biggest position. Robinson Value Management Ltd.’s holdings in M&T Bank were worth $5,045,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Bank of New York Mellon Corp purchased a new stake in shares of M&T Bank in the second quarter valued at $330,978,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in M&T Bank by 2.6% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,517 shares of the financial services provider’s stock valued at $252,414,000 after purchasing an additional 26,486 shares during the last quarter. Davis Asset Management L.P. acquired a new position in M&T Bank in the second quarter valued at $97,584,000. Hsbc Holdings PLC increased its stake in M&T Bank by 18.9% in the second quarter. Hsbc Holdings PLC now owns 396,157 shares of the financial services provider’s stock valued at $94,364,000 after purchasing an additional 62,877 shares during the last quarter. Finally, Amundi increased its stake in M&T Bank by 7.7% in the second 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 and hedge funds own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MTB. UBS Group reduced their target price on M&T Bank from $255.00 to $238.00 and set a “neutral” rating on the stock in a research report on Monday, October 5th. Weiss Ratings restated a “buy (b)” rating on shares of M&T Bank in a report on Tuesday, September 1st. Jefferies Financial Group lowered their price target on M&T Bank from $300.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, September 24th. Wall Street Zen raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Monday, July 20th. Finally, Raymond James Financial initiated coverage on shares of M&T Bank in a report on Tuesday, October 6th. They set an “outperform” rating and a $250.00 price objective on the stock. Eight analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, M&T Bank presently has a consensus rating of “Hold” and a consensus target price of $246.88.

Insiders Place Their Bets

In other M&T Bank news, Director Rudina Seseri sold 623 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $241.04, for a total transaction of $150,167.92. Following the completion of the sale, the director directly owned 3,649 shares in the company, valued at $879,554.96. This represents a 14.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Rene F. Jones sold 19,396 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer owned 103,831 shares of the company’s stock, valued at $24,851,949.85. This represents a 15.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 20,028 shares of company stock worth $4,794,884 in the last quarter. 0.44% of the stock is owned by insiders.

M&T Bank Stock Up 2.1%

Shares of MTB opened at $218.22 on Wednesday. The firm has a market cap of $31.51 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 1.20 and a beta of 0.61. The company’s fifty day moving average is $230.55 and its two-hundred day moving average is $228.83. M&T Bank Corporation has a fifty-two week low of $179.32 and a fifty-two week high of $255.95. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.54.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Friday, October 16th. The financial services provider reported $5.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.93 by $0.15. The company had revenue of $2.54 billion during the quarter, compared to analysts’ expectations 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 period in the previous year, the company earned $4.82 EPS. Analysts forecast that M&T Bank Corporation will post 19.43 earnings per share for the current year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st were issued a $1.50 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $6.00 dividend on an annualized basis and a yield of 2.7%. M&T Bank’s dividend payout ratio (DPR) is presently 31.32%.

M&T Bank Profile

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.