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Northern Trust Corp reduces its stake in M&T Bank Co. (NYSE:MTB) by selling 45,085 shares


M&T Bank Co. (NYSE:MTB) Stake Reduced by Northern Trust Corp

M&T Bank (NYSE: MTB) has been making headlines recently as Northern Trust Corp reduced its stake in the company by 2.7% in the 4th quarter. This move saw the firm selling 45,085 shares of the financial services provider’s stock, bringing their total ownership to 1,626,752 shares valued at $222,995,000. Other institutional investors have also been making changes to their positions in M&T Bank, with Cibc World Markets Corp, Public Employees Retirement Association of Colorado, 1832 Asset Management L.P., Morningstar Investment Management LLC, and Tower Research Capital LLC TRC all adjusting their holdings.

In terms of analyst ratings, several analysts have issued reports on MTB shares, with a consensus rating of “Hold” and a consensus price target of $159.04. Director John P. Barnes recently sold 43,426 shares of the company’s stock, while EVP Doris P. Meister sold 3,961 shares, with insiders collectively selling 130,359 shares in the last 90 days.

M&T Bank’s stock performance has been solid, with shares opening at $146.82 on Friday. The company recently announced a quarterly dividend increase, with shareholders set to receive $1.35 per share on June 28th. This represents a $5.40 dividend on an annualized basis and a yield of 3.68%.

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association, providing retail and commercial banking products and services in the United States. With a market cap of $24.50 billion, M&T Bank has a strong presence in the financial services sector.

Overall, M&T Bank’s recent developments and performance indicate a company that is making strategic moves to enhance shareholder value and strengthen its position in the market. Investors and analysts will be keeping a close eye on the company’s future growth and profitability.

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