Robinson Value Management Ltd. Sells 2,720 Shares of M&T Bank Corporation $MTB

Robinson Value Management Ltd. cut its stake 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 comprises about 2.8% of Robinson Value Management Ltd.’s investment portfolio, making the stock its 7th largest position. Robinson Value Management Ltd.’s holdings in M&T Bank were worth $5,045,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in MTB. Eastern Bank boosted its holdings in M&T Bank by 259.2% during the third quarter. Eastern Bank now owns 24,456 shares of the financial services provider’s stock worth $5,322,000 after buying an additional 17,647 shares in the last quarter. Danske Bank A S acquired a new position in M&T Bank during the second quarter worth about $34,683,000. Adams Diversified Equity Fund Inc. grew its position in M&T Bank by 22.8% during the first quarter. Adams Diversified Equity Fund Inc. now owns 119,900 shares of the financial services provider’s stock worth $24,786,000 after buying an additional 22,300 shares during the period. Susquehanna Fundamental Investments LLC increased its holdings in M&T Bank by 205.4% in the second quarter. Susquehanna Fundamental Investments LLC now owns 110,553 shares of the financial services provider’s stock valued at $26,313,000 after buying an additional 74,353 shares in the last quarter. Finally, Amundi increased its holdings 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 buying an additional 27,795 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Performance

NYSE MTB opened at $218.22 on Wednesday. M&T Bank Corporation has a fifty-two week low of $179.32 and a fifty-two week high of $255.95. The stock has a market cap of $31.51 billion, a price-to-earnings ratio of 11.39, a price-to-earnings-growth ratio of 1.20 and a beta of 0.61. The business has a fifty day moving average of $230.55 and a 200-day moving average of $228.83. 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 issued 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 business had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.53 billion. M&T Bank had a return on equity of 11.86% and a net margin of 22.63%. During the same period in the prior year, the business earned $4.82 earnings per share. As a group, analysts predict that M&T Bank Corporation will post 19.43 earnings per share for the current fiscal 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 paid a $1.50 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $6.00 annualized dividend and a yield of 2.7%. M&T Bank’s payout ratio is presently 31.32%.

Analyst Ratings Changes

MTB has been the topic of several research analyst reports. Wall Street Zen raised M&T Bank from a “sell” rating to a “hold” rating in a research note on Monday, July 20th. JPMorgan Chase & Co. dropped their price objective on M&T Bank from $265.50 to $248.50 and set a “neutral” rating for the company in a research note on Friday, October 2nd. Morgan Stanley reduced their price objective on M&T Bank from $301.00 to $294.00 and set an “overweight” rating for the company in a report on Monday. Robert W. Baird boosted their target price on M&T Bank from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Finally, Raymond James Financial started coverage on M&T Bank in a research report on Tuesday, October 6th. They set an “outperform” rating and a $250.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and an average target price of $246.88.

Insider Activity

In other M&T Bank news, Director Rudina Seseri sold 623 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $241.04, for a total transaction of $150,167.92. Following the sale, the director directly owned 3,649 shares of the company’s stock, valued at $879,554.96. This trade represents a 14.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rene F. Jones sold 19,396 shares of M&T Bank stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $239.35, for a total transaction of $4,642,432.60. Following the sale, the chief executive officer owned 103,831 shares of the company’s stock, valued at approximately $24,851,949.85. This trade represents a 15.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 20,028 shares of company stock valued at $4,794,884 in the last three months. 0.44% of the stock is currently owned by corporate insiders.

About M&T Bank

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.