Northcape Wealth Management LLC Lowers Holdings in M&T Bank Co. (NYSE:MTB)

Northcape Wealth Management LLC decreased its position in M&T Bank Co. (NYSE:MTB) by 8.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,935 shares of the financial services provider’s stock after selling 1,100 shares during the period. Northcape Wealth Management LLC’s holdings in M&T Bank were worth $1,636,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MTB. HHM Wealth Advisors LLC bought a new stake in shares of M&T Bank in the 4th quarter worth $25,000. BKM Wealth Management LLC bought a new position in shares of M&T Bank during the fourth quarter worth $32,000. Headinvest LLC purchased a new position in M&T Bank during the third quarter valued at $29,000. CVA Family Office LLC bought a new stake in M&T Bank in the 4th quarter valued at $33,000. Finally, Planned Solutions Inc. purchased a new stake in M&T Bank in the 4th quarter worth $33,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Stock Performance

M&T Bank stock traded down $1.13 during midday trading on Tuesday, hitting $144.39. 545,059 shares of the company were exchanged, compared to its average volume of 1,175,593. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $148.93. The firm has a market capitalization of $24.06 billion, a PE ratio of 9.84, a price-to-earnings-growth ratio of 1.22 and a beta of 0.80. The business has a fifty day simple moving average of $141.15 and a two-hundred day simple moving average of $134.03. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.94.

M&T Bank (NYSE:MTB) last posted its earnings results on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same quarter last year, the business earned $4.09 earnings per share. On average, sell-side analysts forecast that M&T Bank Co. will post 13.92 earnings per share for the current year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.60%. The ex-dividend date was Friday, March 1st. M&T Bank’s payout ratio is 35.16%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. DA Davidson restated a “neutral” rating and set a $159.00 price target on shares of M&T Bank in a report on Tuesday, April 16th. Wedbush reissued an “outperform” rating and issued a $170.00 target price on shares of M&T Bank in a report on Wednesday, April 10th. Evercore ISI raised their price objective on M&T Bank from $146.00 to $157.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. UBS Group lifted their target price on M&T Bank from $139.00 to $154.00 in a research report on Wednesday, January 17th. Finally, Wells Fargo & Company upped their price target on shares of M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 16th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $158.48.

Insider Transactions at M&T Bank

In other news, Director John P. Barnes sold 10,000 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $147.11, for a total value of $1,471,100.00. Following the completion of the sale, the director now directly owns 34,545 shares in the company, valued at $5,081,914.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director John P. Barnes sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $147.11, for a total transaction of $1,471,100.00. Following the completion of the sale, the director now owns 34,545 shares in the company, valued at approximately $5,081,914.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Doris P. Meister sold 1,638 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $138.21, for a total value of $226,387.98. Following the completion of the transaction, the executive vice president now owns 3,362 shares in the company, valued at $464,662.02. The disclosure for this sale can be found here. Insiders sold 47,119 shares of company stock valued at $6,812,112 over the last 90 days. Corporate insiders own 0.82% of the company’s stock.

About M&T Bank

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.