River Road Asset Management LLC Reduces Position in M&T Bank Co. (NYSE:MTB)

River Road Asset Management LLC lessened its holdings in shares of M&T Bank Co. (NYSE:MTB) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,119 shares of the financial services provider’s stock after selling 820 shares during the quarter. River Road Asset Management LLC’s holdings in M&T Bank were worth $4,951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of MTB. Clear Street Markets LLC purchased a new position in shares of M&T Bank during the 4th quarter valued at $25,000. RVW Wealth LLC purchased a new position in shares of M&T Bank during the 3rd quarter valued at $27,000. Quarry LP purchased a new position in shares of M&T Bank during the 1st quarter valued at $27,000. Sunbelt Securities Inc. purchased a new position in shares of M&T Bank during the 1st quarter valued at $27,000. Finally, BKM Wealth Management LLC purchased a new position in shares of M&T Bank during the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

MTB has been the topic of a number of research reports. Piper Sandler reduced their price target on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating on the stock in a report on Friday, January 19th. Bank of America lifted their price target on shares of M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday. Keefe, Bruyette & Woods lifted their price target on shares of M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a report on Tuesday. Jefferies Financial Group reduced their price target on shares of M&T Bank from $154.00 to $151.00 and set a “hold” rating on the stock in a report on Monday, April 8th. Finally, StockNews.com downgraded shares of M&T Bank from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $157.98.

M&T Bank Stock Performance

M&T Bank stock opened at $139.04 on Thursday. The company’s 50-day moving average price is $139.61 and its 200-day moving average price is $132.77. M&T Bank Co. has a twelve month low of $108.53 and a twelve month high of $148.23. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The company has a market cap of $23.17 billion, a PE ratio of 9.40, a price-to-earnings-growth ratio of 1.26 and a beta of 0.80.

M&T Bank (NYSE:MTB) last posted its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter last year, the firm earned $4.09 earnings per share. On average, equities research analysts forecast that M&T Bank Co. will post 13.93 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.74%. M&T Bank’s dividend payout ratio is presently 35.16%.

Insider Buying and Selling

In related news, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the transaction, the director now directly owns 6,367 shares of the company’s stock, valued at approximately $923,215. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Doris P. Meister sold 3,961 shares of M&T Bank stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $143.60, for a total transaction of $568,799.60. Following the completion of the transaction, the executive vice president now directly owns 5,000 shares of the company’s stock, valued at approximately $718,000. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the transaction, the director now directly owns 6,367 shares of the company’s stock, valued at $923,215. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,481 shares of company stock valued at $5,114,624. Company 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.