Plimoth Trust Co. LLC Cuts Stake in M&T Bank Co. (MTB)

Plimoth Trust Co. LLC trimmed its position in shares of M&T Bank Co. (NYSE:MTB) by 52.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,800 shares of the financial services provider’s stock after selling 5,200 shares during the period. Plimoth Trust Co. LLC’s holdings in M&T Bank were worth $754,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Strs Ohio grew its stake in shares of M&T Bank by 4.3% in the 1st quarter. Strs Ohio now owns 25,623 shares of the financial services provider’s stock worth $4,023,000 after buying an additional 1,054 shares in the last quarter. Bowling Portfolio Management LLC bought a new stake in M&T Bank during the 1st quarter valued at about $360,000. Sky Investment Group LLC raised its holdings in shares of M&T Bank by 0.7% in the 1st quarter. Sky Investment Group LLC now owns 26,613 shares of the financial services provider’s stock valued at $4,179,000 after purchasing an additional 175 shares in the last quarter. Liberty Wealth Management LLC raised its holdings in shares of M&T Bank by 972.7% in the 1st quarter. Liberty Wealth Management LLC now owns 236 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 214 shares in the last quarter. Finally, Baltimore Washington Financial Advisors Inc. bought a new stake in shares of M&T Bank in the 1st quarter valued at about $313,000. Institutional investors own 80.97% of the company’s stock.

Shares of MTB opened at $167.39 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market cap of $22.69 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 1.51 and a beta of 1.08. M&T Bank Co. has a 12-month low of $133.78 and a 12-month high of $187.07.

M&T Bank (NYSE:MTB) last issued its earnings results on Monday, April 15th. The financial services provider reported $3.35 EPS for the quarter, topping the consensus estimate of $3.30 by $0.05. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.51 billion. M&T Bank had a net margin of 30.84% and a return on equity of 14.46%. During the same period in the previous year, the firm earned $2.23 EPS. Analysts anticipate that M&T Bank Co. will post 14.61 earnings per share for the current year.

In related news, insider Robert J. Bojdak sold 1,638 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $170.03, for a total value of $278,509.14. Following the completion of the transaction, the insider now owns 20,199 shares of the company’s stock, valued at approximately $3,434,435.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian E. Hickey sold 4,000 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $168.53, for a total transaction of $674,120.00. Following the transaction, the insider now directly owns 17,819 shares of the company’s stock, valued at approximately $3,003,036.07. The disclosure for this sale can be found here. Insiders have sold a total of 13,246 shares of company stock valued at $2,263,806 in the last ninety days. Corporate insiders own 0.54% of the company’s stock.

Several research analysts recently commented on the stock. Zacks Investment Research lowered shares of M&T Bank from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. Barclays boosted their target price on shares of M&T Bank from $207.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. UBS Group set a $169.00 target price on shares of M&T Bank and gave the company a “hold” rating in a research note on Tuesday, April 2nd. ValuEngine upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Finally, Wedbush set a $165.00 price objective on shares of M&T Bank and gave the stock a “hold” rating in a research report on Friday, January 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $179.25.

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M&T Bank Profile

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.

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

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