Sanibel Captiva Trust Company Inc. Sells 2,072 Shares of M&T Bank Co. (NYSE:MTB)

Sanibel Captiva Trust Company Inc. trimmed its stake in M&T Bank Co. (NYSE:MTB - Free Report) by 5.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,957 shares of the financial services provider's stock after selling 2,072 shares during the quarter. Sanibel Captiva Trust Company Inc.'s holdings in M&T Bank were worth $6,572,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC raised its position in shares of M&T Bank by 13.9% in the third quarter. FMR LLC now owns 12,349,398 shares of the financial services provider's stock valued at $2,199,675,000 after purchasing an additional 1,508,846 shares during the period. State Street Corp raised its holdings in M&T Bank by 6.4% during the 3rd 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 period. Marshall Wace LLP lifted its position in shares of M&T Bank by 232.1% during the second quarter. Marshall Wace LLP now owns 676,745 shares of the financial services provider's stock worth $102,432,000 after acquiring an additional 472,997 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of M&T Bank in the third quarter worth $44,422,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of M&T Bank by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider's stock valued at $897,216,000 after purchasing an additional 190,837 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

Insider Activity at M&T Bank

In related news, CEO Rene F. Jones sold 23,071 shares of the business's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $193.88, for a total transaction of $4,473,005.48. Following the transaction, the chief executive officer now owns 77,226 shares in the company, valued at $14,972,576.88. The trade was a 23.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John P. Barnes sold 20,000 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was 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 owns 49,960 shares of the company's stock, valued at approximately $9,690,741.20. This trade represents a 28.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 84,994 shares of company stock worth $17,211,278 in the last ninety days. 0.82% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on MTB. StockNews.com upgraded M&T Bank from a "sell" rating to a "hold" rating in a research note on Friday, October 18th. Wells Fargo & Company raised their price objective on shares of M&T Bank from $190.00 to $205.00 and gave the company an "underweight" rating in a research report on Friday, November 15th. The Goldman Sachs Group upped their target price on shares of M&T Bank from $216.00 to $243.00 and gave the stock a "neutral" rating in a report on Tuesday, November 26th. Truist Financial reissued a "buy" rating and issued a $236.00 price target (up from $233.00) on shares of M&T Bank in a report on Friday. Finally, DA Davidson increased their price objective on M&T Bank from $222.00 to $223.00 and gave the stock a "neutral" rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $221.68.

M&T Bank Price Performance

MTB traded up $0.78 during midday trading on Friday, hitting $196.88. The stock had a trading volume of 2,029,408 shares, compared to its average volume of 1,013,933. M&T Bank Co. has a 1 year low of $128.31 and a 1 year high of $225.70. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99. The business has a fifty day moving average of $202.41 and a 200 day moving average of $183.71. The company has a market cap of $32.67 billion, a P/E ratio of 14.57, a price-to-earnings-growth ratio of 2.16 and a beta of 0.79.

M&T Bank (NYSE:MTB - Get Free Report) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, beating the consensus estimate of $3.70 by $0.22. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. During the same quarter last year, the company posted $2.74 EPS. As a group, equities analysts forecast that M&T Bank Co. will post 14.58 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date was Monday, December 2nd. M&T Bank's dividend payout ratio (DPR) is presently 39.97%.

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.