Mascoma Wealth Management LLC Sells 190 Shares of M&T Bank Co. (NYSE:MTB)

Mascoma Wealth Management LLC reduced its holdings in shares of M&T Bank Co. (NYSE:MTB) by 47.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 210 shares of the financial services provider’s stock after selling 190 shares during the quarter. Mascoma Wealth Management LLC’s holdings in M&T Bank were worth $32,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MTB. Benjamin F. Edwards & Company Inc. grew its stake in M&T Bank by 26.2% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 5,439 shares of the financial services provider’s stock worth $745,000 after buying an additional 1,128 shares in the last quarter. Merit Financial Group LLC bought a new stake in M&T Bank during the 4th quarter valued at about $200,000. National Bank of Canada FI boosted its holdings in shares of M&T Bank by 3.4% during the 4th quarter. National Bank of Canada FI now owns 42,959 shares of the financial services provider’s stock valued at $5,973,000 after acquiring an additional 1,425 shares during the last quarter. Lincoln National Corp boosted its holdings in shares of M&T Bank by 18.8% during the 4th quarter. Lincoln National Corp now owns 5,802 shares of the financial services provider’s stock valued at $795,000 after acquiring an additional 917 shares during the last quarter. Finally, Apollon Wealth Management LLC boosted its holdings in shares of M&T Bank by 46.4% in the fourth quarter. Apollon Wealth Management LLC now owns 2,365 shares of the financial services provider’s stock worth $324,000 after buying an additional 750 shares during the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Vice Chairman Gary N. Geisel sold 500 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total transaction of $86,250.00. Following the completion of the transaction, 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 can be accessed through this link. In other M&T Bank news, Director Kirk W. Walters sold 2,471 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.60, for a total value of $60,786.60. Following the completion of the sale, the director now directly owns 20,414 shares in the company, valued at $502,184.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Gary N. Geisel sold 500 shares of M&T Bank 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 transaction, the insider now owns 16,429 shares of the company’s stock, valued at approximately $2,834,002.50. The disclosure for this sale can be found here. Insiders sold a total of 22,699 shares of company stock valued at $3,395,049 over the last three months. Company insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Jefferies Financial Group raised their target price on shares of M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, July 19th. Keefe, Bruyette & Woods lifted their price objective on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. Royal Bank of Canada boosted their target price on shares of M&T Bank from $160.00 to $174.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Finally, Piper Sandler upped their price objective on shares of M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven 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 $175.85.

M&T Bank Trading Down 1.4 %

Shares of NYSE MTB opened at $168.96 on Thursday. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $176.44. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. The company has a market cap of $28.19 billion, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 3.45 and a beta of 0.77. The stock’s 50 day simple moving average is $162.54 and its 200 day simple moving average is $150.77.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, topping 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 last year, the business posted $5.12 EPS. Equities research analysts expect that M&T Bank Co. will post 14.24 EPS for the current year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be given a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 3.20%. M&T Bank’s payout ratio is 36.51%.

M&T Bank Company 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.