Financial Management Network Inc. Sells 134 Shares of M&T Bank Co. (NYSE:MTB)

Financial Management Network Inc. lowered its holdings in shares of M&T Bank Co. (NYSE:MTB) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,117 shares of the financial services provider’s stock after selling 134 shares during the quarter. Financial Management Network Inc.’s holdings in M&T Bank were worth $736,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of MTB. Hexagon Capital Partners LLC raised its stake in shares of M&T Bank by 54.4% in the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 68 shares during the period. Fidelis Capital Partners LLC purchased a new stake in shares of M&T Bank in the first quarter valued at $30,000. Oakworth Capital Inc. purchased a new stake in shares of M&T Bank in the second quarter valued at $35,000. nVerses Capital LLC purchased a new position in M&T Bank in the 3rd quarter worth about $53,000. Finally, Annapolis Financial Services LLC increased its stake in M&T Bank by 150.7% in the 3rd quarter. Annapolis Financial Services LLC now owns 376 shares of the financial services provider’s stock worth $67,000 after buying an additional 226 shares during the period. Institutional investors own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Wells Fargo & Company raised their price target on shares of M&T Bank from $165.00 to $190.00 and gave the stock an “underweight” rating in a research note on Friday, October 18th. Bank of America raised their price target on shares of M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Evercore ISI raised shares of M&T Bank from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $187.00 to $210.00 in a research note on Wednesday, October 2nd. Keefe, Bruyette & Woods raised their price target 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. Finally, DA Davidson raised their price target on shares of M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $197.47.

M&T Bank Stock Up 0.4 %

Shares of NYSE:MTB traded up $0.80 during trading on Friday, reaching $195.30. The stock had a trading volume of 80,885 shares, compared to its average volume of 1,036,650. M&T Bank Co. has a one year low of $108.53 and a one year high of $200.94. The company has a market capitalization of $32.59 billion, a P/E ratio of 13.15, a PEG ratio of 3.27 and a beta of 0.75. 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 firm’s 50-day simple moving average is $174.96 and its 200 day simple moving average is $159.94.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s dividend payout ratio is currently 36.51%.

Insider Activity

In other news, EVP Michael J. Todaro sold 4,791 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $162.57, for a total value of $778,872.87. Following the sale, the executive vice president now directly owns 3,086 shares in the company, valued at approximately $501,691.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director John P. Barnes sold 20,000 shares of M&T Bank stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $193.97, for a total value of $3,879,400.00. Following the completion of the sale, the director now directly owns 49,960 shares in the company, valued at $9,690,741.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael J. Todaro sold 4,791 shares of M&T Bank stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $162.57, for a total transaction of $778,872.87. Following the completion of the sale, the executive vice president now owns 3,086 shares of the company’s stock, valued at $501,691.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,735 shares of company stock worth $7,437,757. Corporate insiders own 0.82% of the company’s stock.

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.