M&T Bank Co. (MTB) Position Cut by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its position in M&T Bank Co. (NYSE:MTB) by 6.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 172,719 shares of the financial services provider’s stock after selling 12,738 shares during the period. PNC Financial Services Group Inc. owned approximately 0.12% of M&T Bank worth $28,419,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Sageworth Trust Co lifted its holdings in M&T Bank by 220.0% in the third quarter. Sageworth Trust Co now owns 800 shares of the financial services provider’s stock valued at $132,000 after buying an additional 550 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in M&T Bank by 8,330.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 843 shares of the financial services provider’s stock valued at $143,000 after buying an additional 833 shares during the period. NEXT Financial Group Inc acquired a new position in M&T Bank in the third quarter valued at $165,000. Greenleaf Trust acquired a new position in M&T Bank in the third quarter valued at $205,000. Finally, Lincoln National Corp acquired a new position in M&T Bank in the third quarter valued at $205,000. Institutional investors and hedge funds own 82.46% of the company’s stock.

Shares of NYSE MTB opened at $167.25 on Monday. M&T Bank Co. has a 1-year low of $154.33 and a 1-year high of $197.37. The stock has a market cap of $23.47 billion, a PE ratio of 17.89, a P/E/G ratio of 1.06 and a beta of 0.86. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.64.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Wednesday, October 17th. The financial services provider reported $3.53 earnings per share for the quarter, beating the consensus estimate of $3.35 by $0.18. M&T Bank had a net margin of 26.84% and a return on equity of 13.15%. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the business earned $2.21 earnings per share. Equities analysts anticipate that M&T Bank Co. will post 13.04 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Monday, December 3rd will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, November 30th. This represents a $4.00 annualized dividend and a dividend yield of 2.39%. M&T Bank’s dividend payout ratio is currently 42.78%.

In related news, Director Denis J. Salamone sold 25,209 shares of the company’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $179.76, for a total value of $4,531,569.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Doris P. Meister sold 800 shares of the company’s stock in a transaction dated Friday, November 9th. The stock was sold at an average price of $167.24, for a total transaction of $133,792.00. Following the completion of the sale, the insider now owns 342 shares in the company, valued at approximately $57,196.08. The disclosure for this sale can be found here. Insiders have sold 27,873 shares of company stock worth $4,972,269 in the last quarter. Company insiders own 0.48% of the company’s stock.

Several equities analysts recently issued reports on the stock. ValuEngine upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, November 16th. Robert W. Baird upgraded shares of M&T Bank from a “neutral” rating to an “outperform” rating in a report on Tuesday, October 23rd. Zacks Investment Research lowered shares of M&T Bank from a “buy” rating to a “hold” rating in a report on Monday, October 22nd. Piper Jaffray Companies upgraded shares of M&T Bank from a “neutral” rating to an “overweight” rating and set a $194.00 target price on the stock in a report on Monday, October 22nd. Finally, Wedbush set a $188.00 target price on shares of M&T Bank and gave the company a “hold” rating in a report on Thursday, October 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. M&T Bank has a consensus rating of “Buy” and an average target price of $184.36.

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M&T Bank Profile

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide retail and commercial banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals.

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Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

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