UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 8,235 Shares of M&T Bank Co. (NYSE:MTB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 933,575 shares of the financial services provider's stock after selling 8,235 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.56% of M&T Bank worth $166,288,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Plato Investment Management Ltd increased its holdings in shares of M&T Bank by 2,300.0% in the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider's stock worth $30,000 after purchasing an additional 161 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of M&T Bank in the 3rd quarter worth $32,000. Hexagon Capital Partners LLC increased its holdings in shares of M&T Bank by 54.4% in the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider's stock worth $34,000 after purchasing an additional 68 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of M&T Bank by 329.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider's stock worth $37,000 after purchasing an additional 158 shares in the last quarter. Finally, Oakworth Capital Inc. bought a new stake in shares of M&T Bank in the 2nd quarter worth $35,000. Institutional investors own 84.68% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on MTB. Citigroup lowered M&T Bank from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $220.00 to $230.00 in a report on Monday, November 25th. Evercore ISI lifted their price objective on M&T Bank from $210.00 to $232.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Piper Sandler lifted their price objective on M&T Bank from $205.00 to $243.00 and gave the stock an "overweight" rating in a report on Wednesday. The Goldman Sachs Group lifted their price objective on M&T Bank from $216.00 to $243.00 and gave the stock a "neutral" rating in a report on Tuesday, November 26th. Finally, Wells Fargo & Company lifted their price objective on M&T Bank from $190.00 to $205.00 and gave the stock an "underweight" rating in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, M&T Bank presently has a consensus rating of "Hold" and an average price target of $206.41.

Insider Transactions at M&T Bank

In other M&T Bank news, Director John P. Barnes sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $193.97, for a total transaction of $3,879,400.00. Following the sale, the director now directly owns 49,960 shares of the company's stock, valued at $9,690,741.20. The trade was a 28.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Denis J. Salamone sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total value of $1,720,300.00. Following the sale, the director now directly owns 44,902 shares in the company, valued at $7,724,491.06. The trade was a 18.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,504 shares of company stock valued at $18,394,012. 0.82% of the stock is currently owned by insiders.

M&T Bank Price Performance

Shares of MTB stock traded down $0.81 during trading hours on Friday, hitting $219.99. The stock had a trading volume of 542,441 shares, compared to its average volume of 983,497. M&T Bank Co. has a one year low of $125.61 and a one year high of $225.70. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99. The stock's 50-day moving average price is $196.45 and its two-hundred day moving average price is $171.98. The stock has a market capitalization of $36.50 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 3.10 and a beta of 0.74.

M&T Bank (NYSE:MTB - Get Free Report) last issued its earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.60 by $0.48. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. The firm had revenue of $2.33 billion for the quarter, compared to analysts' expectations of $2.30 billion. Equities analysts forecast that M&T Bank Co. will post 14.57 EPS for the current year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be issued a $1.35 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.45%. M&T Bank's dividend payout ratio (DPR) is 39.97%.

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.