Gulf International Bank UK Ltd lowered its position in M&T Bank Co. (NYSE:MTB – Free Report) by 11.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 13,614 shares of the financial services provider’s stock after selling 1,677 shares during the period. Gulf International Bank UK Ltd’s holdings in M&T Bank were worth $1,866,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Clear Street Markets LLC acquired a new stake in shares of M&T Bank in the 4th quarter worth $25,000. Stonebridge Capital Advisors LLC increased its position in shares of M&T Bank by 1,980.0% during the 2nd quarter. Stonebridge Capital Advisors LLC now owns 208 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 198 shares during the last quarter. RVW Wealth LLC acquired a new stake in shares of M&T Bank during the 3rd quarter worth about $27,000. Quarry LP acquired a new stake in shares of M&T Bank during the 1st quarter worth about $27,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of M&T Bank during the 1st quarter worth about $27,000. Hedge funds and other institutional investors own 82.86% of the company’s stock.
M&T Bank Price Performance
Shares of NYSE MTB opened at $142.14 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. M&T Bank Co. has a twelve month low of $108.53 and a twelve month high of $148.23. The stock has a 50 day moving average of $138.25 and a two-hundred day moving average of $130.77. The stock has a market cap of $23.68 billion, a P/E ratio of 9.01, a P/E/G ratio of 1.27 and a beta of 0.79.
M&T Bank (NYSE:MTB – Get Free Report) last released its earnings results on Thursday, January 18th. The financial services provider reported $2.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.36). M&T Bank had a net margin of 21.49% and a return on equity of 11.59%. The company had revenue of $3.32 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same period in the previous year, the firm posted $4.57 EPS. On average, research analysts forecast that M&T Bank Co. will post 13.88 earnings per share for the current year.
M&T Bank Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Monday, March 4th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date is Friday, March 1st. M&T Bank’s dividend payout ratio is presently 32.95%.
Insider Buying and Selling
In related news, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the transaction, the director now owns 6,367 shares of the company’s stock, valued at $923,215. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other M&T Bank news, EVP Doris P. Meister sold 1,675 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $137.91, for a total transaction of $230,999.25. Following the sale, the executive vice president now directly owns 8,961 shares in the company, valued at $1,235,811.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the sale, the director now owns 6,367 shares in the company, valued at $923,215. The disclosure for this sale can be found here. Insiders have sold 35,481 shares of company stock valued at $5,114,624 over the last quarter. Company insiders own 0.82% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on MTB shares. Morgan Stanley lifted their target price on M&T Bank from $160.00 to $179.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Piper Sandler dropped their target price on M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a research report on Friday, January 19th. Deutsche Bank Aktiengesellschaft downgraded M&T Bank from a “buy” rating to a “hold” rating and set a $145.00 target price for the company. in a research report on Monday, December 18th. StockNews.com downgraded M&T Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. Finally, Barclays lifted their target price on M&T Bank from $150.00 to $170.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $149.71.
View Our Latest Report on M&T Bank
About M&T Bank
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.
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