Tidal Investments LLC Sells 410 Shares of M&T Bank Co. (NYSE:MTB)

Tidal Investments LLC reduced its position in M&T Bank Co. (NYSE:MTB) by 1.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,393 shares of the financial services provider’s stock after selling 410 shares during the period. Tidal Investments LLC’s holdings in M&T Bank were worth $4,523,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Capital Performance Advisors LLP acquired a new position in shares of M&T Bank during the third quarter valued at about $44,000. Principal Financial Group Inc. boosted its stake in M&T Bank by 1.4% during the 3rd quarter. Principal Financial Group Inc. now owns 199,111 shares of the financial services provider’s stock valued at $35,466,000 after purchasing an additional 2,797 shares during the last quarter. Smead Capital Management Inc. increased its holdings in M&T Bank by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 493,817 shares of the financial services provider’s stock worth $87,959,000 after purchasing an additional 16,657 shares in the last quarter. National Pension Service raised its stake in shares of M&T Bank by 5.2% in the third quarter. National Pension Service now owns 268,138 shares of the financial services provider’s stock worth $47,761,000 after purchasing an additional 13,302 shares during the last quarter. Finally, Senvest Management LLC lifted its holdings in shares of M&T Bank by 12.3% in the third quarter. Senvest Management LLC now owns 882,841 shares of the financial services provider’s stock valued at $157,252,000 after purchasing an additional 96,500 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Down 0.3 %

M&T Bank stock opened at $199.29 on Friday. The firm has a market capitalization of $33.07 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 2.83 and a beta of 0.76. The firm has a 50 day simple moving average of $203.04 and a 200 day simple moving average of $175.70. M&T Bank Co. has a 1-year low of $128.31 and a 1-year high of $225.70. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.60 by $0.48. The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.30 billion. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. On average, analysts predict that M&T Bank Co. will post 14.63 earnings per share for the current year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.71%. The ex-dividend date is Monday, December 2nd. M&T Bank’s payout ratio is 39.97%.

Analyst Upgrades and Downgrades

MTB has been the subject of several recent research reports. Wells Fargo & Company upped their price target on M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a report on Friday, November 15th. Compass Point boosted their price target on shares of M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Royal Bank of Canada lifted their target price on M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Finally, Wolfe Research upgraded shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price target for the company in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $211.58.

Insiders Place Their Bets

In other news, CEO Rene F. Jones sold 23,071 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $193.88, for a total value of $4,473,005.48. Following the transaction, the chief executive officer now owns 77,226 shares of the company’s stock, valued at $14,972,576.88. This represents a 23.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Kevin J. Pearson sold 7,500 shares of M&T Bank stock in a transaction on Friday, November 1st. The stock was sold at an average price of $195.88, for a total transaction of $1,469,100.00. Following the sale, the insider now directly owns 40,502 shares of the company’s stock, valued at $7,933,531.76. This represents a 15.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 84,994 shares of company stock worth $17,211,278 in the last ninety days. 0.82% of the stock is currently owned by insiders.

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.