M&T Bank Co. (NYSE:MTB) Shares Sold by Tompkins Financial Corp

Tompkins Financial Corp reduced its stake in M&T Bank Co. (NYSE:MTB) by 28.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 320 shares of the financial services provider’s stock after selling 130 shares during the quarter. Tompkins Financial Corp’s holdings in M&T Bank were worth $54,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. USS Investment Management Ltd boosted its stake in shares of M&T Bank by 1,053.7% during the 3rd quarter. USS Investment Management Ltd now owns 736,052 shares of the financial services provider’s stock worth $116,278,000 after acquiring an additional 672,252 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in M&T Bank by 2.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 499,971 shares of the financial services provider’s stock worth $78,980,000 after purchasing an additional 11,361 shares in the last quarter. Fenimore Asset Management Inc. boosted its position in M&T Bank by 0.7% during the fourth quarter. Fenimore Asset Management Inc. now owns 432,528 shares of the financial services provider’s stock worth $73,422,000 after purchasing an additional 2,940 shares in the last quarter. First Trust Advisors LP grew its holdings in M&T Bank by 19.3% in the third quarter. First Trust Advisors LP now owns 385,289 shares of the financial services provider’s stock valued at $60,864,000 after purchasing an additional 62,455 shares during the period. Finally, California Public Employees Retirement System grew its holdings in M&T Bank by 25.6% in the third quarter. California Public Employees Retirement System now owns 343,818 shares of the financial services provider’s stock valued at $54,313,000 after purchasing an additional 70,002 shares during the period. 81.55% of the stock is owned by hedge funds and other institutional investors.

In other news, COO Richard S. Gold sold 4,093 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $169.43, for a total value of $693,476.99. Following the completion of the sale, the chief operating officer now owns 38,936 shares of the company’s stock, valued at approximately $6,596,926.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Denis J. Salamone sold 15,755 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $167.50, for a total transaction of $2,638,962.50. Following the sale, the director now owns 90,293 shares of the company’s stock, valued at approximately $15,124,077.50. The disclosure for this sale can be found here. Insiders have sold 23,816 shares of company stock worth $3,977,597 in the last three months. 0.54% of the stock is currently owned by corporate insiders.

Several brokerages have recently weighed in on MTB. UBS Group reduced their target price on M&T Bank from $164.00 to $161.00 and set a “neutral” rating for the company in a research note on Monday, October 21st. Jefferies Financial Group lowered shares of M&T Bank from a “buy” rating to a “hold” rating and cut their price target for the stock from $185.00 to $167.00 in a report on Tuesday, October 8th. Citigroup boosted their price target on shares of M&T Bank from $150.00 to $170.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Odeon Capital Group upgraded shares of M&T Bank from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Deutsche Bank raised shares of M&T Bank from a “hold” rating to a “buy” rating in a report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $171.50.

MTB opened at $172.83 on Friday. The firm has a market capitalization of $21.36 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 2.00 and a beta of 1.11. The company’s 50 day simple moving average is $167.53 and its two-hundred day simple moving average is $160.40. M&T Bank Co. has a 1-year low of $141.50 and a 1-year high of $176.11. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.06 and a quick ratio of 1.06.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $3.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.13. M&T Bank had a return on equity of 13.82% and a net margin of 28.58%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the business earned $3.79 earnings per share. On average, equities analysts anticipate that M&T Bank Co. will post 13.64 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were paid a dividend of $1.10 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $4.40 dividend on an annualized basis and a yield of 2.55%. This is a positive change from M&T Bank’s previous quarterly dividend of $1.00. M&T Bank’s payout ratio is 34.21%.

M&T Bank Company Profile

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.

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

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