Stieven Capital Advisors L.P. Lowers Position in M&T Bank Co. (NYSE:MTB)

Stieven Capital Advisors L.P. trimmed its stake in M&T Bank Co. (NYSE:MTB) by 23.6% in the second quarter, Holdings Channel.com reports. The firm owned 17,165 shares of the financial services provider’s stock after selling 5,300 shares during the quarter. Stieven Capital Advisors L.P.’s holdings in M&T Bank were worth $2,598,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of MTB. Norges Bank purchased a new stake in M&T Bank in the fourth quarter valued at approximately $232,322,000. Bank of Nova Scotia grew its stake in M&T Bank by 1,155.9% during the fourth quarter. Bank of Nova Scotia now owns 205,392 shares of the financial services provider’s stock worth $28,154,000 after buying an additional 189,038 shares during the period. Los Angeles Capital Management LLC grew its stake in M&T Bank by 63.9% during the first quarter. Los Angeles Capital Management LLC now owns 414,253 shares of the financial services provider’s stock worth $60,249,000 after buying an additional 161,520 shares during the period. BNP Paribas Financial Markets grew its stake in M&T Bank by 127.6% during the fourth quarter. BNP Paribas Financial Markets now owns 277,330 shares of the financial services provider’s stock worth $38,016,000 after buying an additional 155,487 shares during the period. Finally, BNP Paribas Asset Management Holding S.A. grew its stake in M&T Bank by 643.3% during the fourth quarter. BNP Paribas Asset Management Holding S.A. now owns 165,883 shares of the financial services provider’s stock worth $22,739,000 after buying an additional 143,565 shares during the period. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

M&T Bank Price Performance

MTB traded up $2.12 on Friday, reaching $172.11. The company had a trading volume of 753,895 shares, compared to its average volume of 820,523. The company has a fifty day moving average of $161.18 and a 200-day moving average of $150.07. The company has a market capitalization of $28.72 billion, a P/E ratio of 11.64, a PEG ratio of 3.45 and a beta of 0.77. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a one year low of $108.53 and a one year high of $176.44.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. The firm had revenue of $3.37 billion during the quarter, compared to analyst estimates of $2.27 billion. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. During the same quarter in the prior year, the firm posted $5.12 EPS. As a group, equities research analysts anticipate that M&T Bank Co. will post 14.24 earnings per share for the current year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Tuesday, September 3rd. M&T Bank’s payout ratio is 36.51%.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 500 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total value of $86,250.00. Following the completion of the sale, the insider now directly owns 16,429 shares of the company’s stock, valued at approximately $2,834,002.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other M&T Bank news, Vice Chairman Gary N. Geisel sold 500 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total transaction of $86,250.00. Following the completion of the sale, the insider now directly owns 16,429 shares of the company’s stock, valued at $2,834,002.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Kevin J. Pearson sold 6,095 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $162.28, for a total transaction of $989,096.60. Following the sale, the insider now directly owns 47,944 shares of the company’s stock, valued at $7,780,352.32. The disclosure for this sale can be found here. In the last three months, insiders sold 22,699 shares of company stock valued at $3,395,049. 0.82% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Citigroup boosted their price objective on shares of M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Royal Bank of Canada boosted their price objective on shares of M&T Bank from $160.00 to $174.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Bank of America boosted their target price on shares of M&T Bank from $160.00 to $188.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Wells Fargo & Company cut shares of M&T Bank from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $170.00 to $165.00 in a research report on Thursday, August 15th. Finally, Evercore ISI boosted their target price on shares of M&T Bank from $157.00 to $168.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $173.85.

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.