Mountain Pacific Investment Advisers Inc. ID Has $1.12 Million Stock Holdings in M&T Bank Co. (NYSE:MTB)

Mountain Pacific Investment Advisers Inc. ID cut its position in M&T Bank Co. (NYSE:MTB) by 2.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,137 shares of the financial services provider’s stock after selling 200 shares during the quarter. Mountain Pacific Investment Advisers Inc. ID’s holdings in M&T Bank were worth $1,115,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. GSA Capital Partners LLP acquired a new stake in shares of M&T Bank in the 3rd quarter valued at about $833,000. Tokio Marine Asset Management Co. Ltd. boosted its stake in M&T Bank by 8.3% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,985 shares of the financial services provider’s stock valued at $504,000 after purchasing an additional 305 shares during the last quarter. NBC Securities Inc. acquired a new position in M&T Bank during the 3rd quarter valued at about $299,000. Stevens Capital Management LP acquired a new position in M&T Bank during the 4th quarter valued at about $320,000. Finally, Metis Global Partners LLC boosted its stake in M&T Bank by 15.2% during the 3rd quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider’s stock valued at $893,000 after purchasing an additional 931 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Price Performance

Shares of NYSE MTB opened at $146.38 on Friday. M&T Bank Co. has a twelve month low of $108.53 and a twelve month high of $148.93. The stock’s 50 day moving average price is $141.00 and its 200-day moving average price is $133.82. The company has a market capitalization of $24.39 billion, a PE ratio of 9.90, a PEG ratio of 1.22 and a beta of 0.80. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46.

M&T Bank (NYSE:MTB) last posted its quarterly 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 company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same period last year, the firm posted $4.09 EPS. On average, equities analysts anticipate that M&T Bank Co. will post 13.92 EPS for the current year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were issued a $1.30 dividend. 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 3.55%. M&T Bank’s dividend payout ratio (DPR) 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 that occurred on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the sale, the director now owns 6,367 shares of the company’s stock, valued at approximately $923,215. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Doris P. Meister sold 1,638 shares of M&T Bank 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 sale, the executive vice president now owns 3,362 shares of the company’s stock, valued at approximately $464,662.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 6,367 shares in the company, valued at approximately $923,215. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,119 shares of company stock valued at $5,341,012. 0.82% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on MTB shares. UBS Group lifted their price target on M&T Bank from $139.00 to $154.00 in a research note on Wednesday, January 17th. Piper Sandler cut their price target on M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a research note on Friday, January 19th. DA Davidson reiterated a “neutral” rating and set a $159.00 price target on shares of M&T Bank in a research note on Tuesday, April 16th. Wedbush reiterated an “outperform” rating and set a $170.00 price target on shares of M&T Bank in a research note on Wednesday, April 10th. Finally, Wells Fargo & Company lifted their price target on M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 16th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, M&T Bank currently has an average rating of “Hold” and an average target price of $158.48.

M&T Bank Profile

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.