SG Americas Securities LLC Sells 96,138 Shares of M&T Bank Co. (NYSE:MTB)

SG Americas Securities LLC reduced its holdings in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 95.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,211 shares of the financial services provider's stock after selling 96,138 shares during the quarter. SG Americas Securities LLC's holdings in M&T Bank were worth $792,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. FMR LLC lifted its stake in shares of 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 valued at $2,199,675,000 after acquiring an additional 1,508,846 shares during the last quarter. State Street Corp increased its holdings in M&T Bank by 6.4% in the 3rd quarter. State Street Corp now owns 8,773,439 shares of the financial services provider's stock worth $1,562,725,000 after purchasing an additional 527,854 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in shares of M&T Bank during the third quarter valued at about $44,422,000. Charles Schwab Investment Management Inc. boosted its stake in shares of M&T Bank by 3.9% during 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. Finally, The Manufacturers Life Insurance Company increased its stake in shares of M&T Bank by 30.8% in the third quarter. The Manufacturers Life Insurance Company now owns 599,995 shares of the financial services provider's stock valued at $106,871,000 after buying an additional 141,337 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at M&T Bank

In other news, Vice Chairman Kevin J. Pearson sold 7,500 shares of the company's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $195.88, for a total value of $1,469,100.00. Following the completion of the sale, the insider now owns 40,502 shares in the company, valued at $7,933,531.76. This represents a 15.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 transaction of $537,566.10. Following the transaction, the insider now directly owns 16,429 shares in the company, valued at $3,546,856.81. The trade was a 13.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,487 shares of company stock valued at $8,182,809 over the last three months. Corporate insiders own 0.82% of the company's stock.

Analyst Ratings Changes

MTB has been the topic of a number of research reports. StockNews.com lowered shares of M&T Bank from a "hold" rating to a "sell" rating in a report on Tuesday. JPMorgan Chase & Co. restated a "neutral" rating and issued a $223.50 price objective (up from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. DA Davidson lifted their target price on M&T Bank from $222.00 to $223.00 and gave the stock a "neutral" rating in a report on Friday, January 17th. Truist Financial reissued a "buy" rating and issued a $236.00 price target (up previously from $233.00) on shares of M&T Bank in a research note on Friday, January 17th. Finally, Bank of America lifted their price objective on M&T Bank from $188.00 to $218.00 and gave the stock a "buy" rating in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, M&T Bank has a consensus rating of "Hold" and an average price target of $221.68.

M&T Bank Stock Up 0.9 %

MTB stock traded up $1.82 during trading on Thursday, reaching $202.18. 867,890 shares of the stock were exchanged, compared to its average volume of 1,364,652. The firm's 50 day moving average is $199.97 and its 200 day moving average is $186.38. The firm has a market cap of $33.55 billion, a P/E ratio of 13.82, a price-to-earnings-growth ratio of 1.37 and a beta of 0.79. The company has a current ratio of 0.93, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a twelve month low of $128.31 and a twelve month high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, topping analysts' consensus estimates of $3.70 by $0.22. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same quarter last year, the business earned $2.74 EPS. As a group, research analysts forecast that M&T Bank Co. will post 16.56 EPS for the current year.

M&T Bank declared that its board has approved a stock buyback program on Wednesday, January 22nd that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 12.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend was Monday, December 2nd. M&T Bank's dividend payout ratio is currently 36.91%.

About M&T Bank

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management and investment services. It operates through the following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.