M&T Bank Co. (MTB) Shares Sold by Westpac Banking Corp

Westpac Banking Corp trimmed its stake in M&T Bank Co. (NYSE:MTB) by 11.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,458 shares of the financial services provider’s stock after selling 4,390 shares during the quarter. Westpac Banking Corp’s holdings in M&T Bank were worth $5,505,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its stake in M&T Bank by 0.8% in the third quarter. JPMorgan Chase & Co. now owns 5,761,927 shares of the financial services provider’s stock valued at $948,067,000 after acquiring an additional 43,529 shares during the last quarter. FMR LLC boosted its stake in M&T Bank by 7.5% in the second quarter. FMR LLC now owns 4,251,775 shares of the financial services provider’s stock valued at $723,439,000 after acquiring an additional 297,143 shares during the last quarter. Wells Fargo & Company MN boosted its stake in M&T Bank by 2.1% in the third quarter. Wells Fargo & Company MN now owns 1,613,092 shares of the financial services provider’s stock valued at $265,419,000 after acquiring an additional 33,767 shares during the last quarter. Millennium Management LLC boosted its stake in M&T Bank by 64.8% in the second quarter. Millennium Management LLC now owns 1,341,236 shares of the financial services provider’s stock valued at $228,211,000 after acquiring an additional 527,556 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in M&T Bank by 104.2% in the third quarter. Janus Henderson Group PLC now owns 727,518 shares of the financial services provider’s stock valued at $119,706,000 after acquiring an additional 371,263 shares during the last quarter. Hedge funds and other institutional investors own 82.46% of the company’s stock.

NYSE MTB opened at $169.01 on Friday. M&T Bank Co. has a 12-month low of $154.33 and a 12-month high of $197.37. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $23.68 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 1.07 and a beta of 0.86.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Wednesday, October 17th. The financial services provider reported $3.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.35 by $0.18. M&T Bank had a net margin of 26.84% and a return on equity of 13.15%. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the firm posted $2.21 earnings per share. Research analysts predict that M&T Bank Co. will post 13.04 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Monday, December 3rd will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Friday, November 30th. M&T Bank’s dividend payout ratio (DPR) is currently 42.78%.

MTB has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods upgraded shares of M&T Bank from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research note on Monday, September 3rd. Morgan Stanley dropped their target price on shares of M&T Bank from $195.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 18th. Zacks Investment Research lowered shares of M&T Bank from a “buy” rating to a “hold” rating in a research report on Friday, September 21st. Goldman Sachs Group raised shares of M&T Bank from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 26th. Finally, ValuEngine lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $184.36.

In related news, Director Denis J. Salamone sold 25,209 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $179.76, for a total transaction of $4,531,569.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Sabeth Siddique sold 930 shares of the company’s stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $164.80, for a total transaction of $153,264.00. The disclosure for this sale can be found here. In the last three months, insiders sold 27,873 shares of company stock worth $4,972,269. Insiders own 0.48% of the company’s stock.

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About M&T Bank

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide retail and commercial banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals.

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Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

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