Gulf International Bank UK Ltd Sells 129 Shares of M&T Bank Co. (NYSE:MTB)

Gulf International Bank UK Ltd lowered its position in M&T Bank Co. (NYSE:MTB) by 1.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,982 shares of the financial services provider’s stock after selling 129 shares during the quarter. Gulf International Bank UK Ltd’s holdings in M&T Bank were worth $2,440,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MTB. DekaBank Deutsche Girozentrale lifted its position in shares of M&T Bank by 1.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 30,240 shares of the financial services provider’s stock worth $5,272,000 after buying an additional 361 shares during the period. First Trust Direct Indexing L.P. lifted its position in shares of M&T Bank by 28.5% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,205 shares of the financial services provider’s stock worth $927,000 after buying an additional 1,153 shares during the period. Meitav Investment House Ltd. lifted its position in shares of M&T Bank by 3.1% during the 3rd quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider’s stock worth $386,000 after buying an additional 69 shares during the period. US Bancorp DE lifted its position in shares of M&T Bank by 3.0% during the 3rd quarter. US Bancorp DE now owns 6,743 shares of the financial services provider’s stock worth $1,201,000 after buying an additional 195 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in shares of M&T Bank by 23.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,653 shares of the financial services provider’s stock worth $473,000 after buying an additional 509 shares during the period. Institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Up 1.2 %

Shares of M&T Bank stock opened at $191.68 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a 12 month low of $133.03 and a 12 month high of $225.70. The business has a fifty day simple moving average of $195.03 and a 200 day simple moving average of $190.91. The stock has a market cap of $31.50 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 1.38 and a beta of 0.79.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 EPS 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 in the previous year, the firm earned $2.74 earnings per share. Research analysts predict that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.82%. M&T Bank’s dividend payout ratio (DPR) is presently 36.91%.

M&T Bank declared that its board has authorized a stock buyback program on Wednesday, January 22nd that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

MTB has been the subject of several research analyst reports. Piper Sandler lifted their price objective on M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. The Goldman Sachs Group lifted their price objective on M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $223.50 price objective (up previously from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. Citigroup downgraded M&T Bank from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $220.00 to $230.00 in a research report on Monday, November 25th. Finally, Wells Fargo & Company lifted their price objective on M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $221.68.

Insider Buying and Selling

In related news, Vice Chairman Gary N. Geisel sold 2,490 shares of M&T Bank stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total transaction of $537,566.10. Following the completion of the sale, the insider now directly owns 16,429 shares of the company’s stock, valued at $3,546,856.81. The trade was a 13.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.82% of the stock is owned by insiders.

M&T Bank Profile

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.