M&T Bank Co. (NYSE:MTB) Shares Sold by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC trimmed its position in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 95.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163 shares of the financial services provider's stock after selling 3,157 shares during the quarter. Prestige Wealth Management Group LLC's holdings in M&T Bank were worth $29,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. FMR LLC boosted its holdings in M&T Bank by 13.9% in the 3rd quarter. FMR LLC now owns 12,349,398 shares of the financial services provider's stock worth $2,199,675,000 after buying an additional 1,508,846 shares during the last quarter. State Street Corp lifted its holdings in M&T Bank by 6.4% in the third quarter. State Street Corp now owns 8,773,439 shares of the financial services provider's stock valued at $1,562,725,000 after acquiring an additional 527,854 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of M&T Bank by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider's stock worth $897,216,000 after purchasing an additional 190,837 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of M&T Bank by 4.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider's stock valued at $269,696,000 after acquiring an additional 81,004 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of M&T Bank by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider's stock worth $244,129,000 after purchasing an additional 93,113 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Stock Performance

MTB traded down $5.03 on Wednesday, reaching $201.96. The company had a trading volume of 1,967,884 shares, compared to its average volume of 1,037,521. The stock has a 50-day moving average price of $201.51 and a 200-day moving average price of $175.01. The stock has a market capitalization of $33.51 billion, a PE ratio of 14.94, a P/E/G ratio of 2.96 and a beta of 0.76. M&T Bank Co. has a 1 year low of $128.31 and a 1 year high of $225.70. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB - Get Free Report) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $2.30 billion. As a group, research analysts forecast that M&T Bank Co. will post 14.63 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Monday, December 2nd. M&T Bank's dividend payout ratio (DPR) is presently 39.97%.

Analyst Upgrades and Downgrades

A number of research firms have commented on MTB. JPMorgan Chase & Co. restated a "neutral" rating and set a $223.50 price target (up from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. Wolfe Research raised shares of M&T Bank from a "peer perform" rating to an "outperform" rating and set a $210.00 target price on the stock in a research note on Friday, October 4th. Royal Bank of Canada raised their price target on shares of M&T Bank from $190.00 to $208.00 and gave the company an "outperform" rating in a research report on Friday, October 18th. The Goldman Sachs Group upped their price objective on M&T Bank from $216.00 to $243.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th. Finally, Bank of America lifted their target price on M&T Bank from $188.00 to $218.00 and gave the company a "buy" rating in a report on Friday, October 18th. One 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. Based on data from MarketBeat, M&T Bank currently has a consensus rating of "Hold" and an average price target of $211.58.

Insider Buying and Selling

In related news, Vice Chairman Gary N. Geisel sold 2,490 shares of the firm's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total value of $537,566.10. Following the completion of the sale, the insider now owns 16,429 shares in the company, valued at $3,546,856.81. This trade represents a 13.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John R. Taylor sold 1,436 shares of the business's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $195.03, for a total value of $280,063.08. Following the transaction, the executive vice president now owns 5,618 shares in the company, valued at $1,095,678.54. The trade was a 20.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 84,994 shares of company stock valued at $17,211,278 over the last three months. 0.82% of the stock is currently owned by company insiders.

M&T Bank 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.