USS Investment Management Ltd lowered its position in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 10.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,691 shares of the financial services provider's stock after selling 4,136 shares during the quarter. USS Investment Management Ltd's holdings in M&T Bank were worth $6,525,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Banque Transatlantique SA acquired a new stake in M&T Bank in the 4th quarter valued at about $38,000. Y.D. More Investments Ltd grew its stake in M&T Bank by 122.6% in the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 114 shares during the last quarter. Human Investing LLC acquired a new stake in M&T Bank in the 4th quarter valued at about $44,000. Sierra Ocean LLC acquired a new stake in M&T Bank in the 4th quarter valued at about $44,000. Finally, Loomis Sayles & Co. L P acquired a new stake in M&T Bank in the 4th quarter valued at about $52,000. 84.68% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have issued reports on MTB. DA Davidson decreased their price target on shares of M&T Bank from $205.00 to $189.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Jefferies Financial Group set a $225.00 price target on shares of M&T Bank and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Royal Bank of Canada reaffirmed an "outperform" rating and set a $200.00 price target on shares of M&T Bank in a research note on Monday, May 19th. Evercore ISI decreased their price target on shares of M&T Bank from $234.00 to $205.00 and set an "outperform" rating on the stock in a research note on Thursday, March 13th. Finally, Citigroup decreased their price target on shares of M&T Bank from $230.00 to $195.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $212.53.
Check Out Our Latest Analysis on MTB
Insider Transactions at M&T Bank
In other news, EVP Christopher E. Kay sold 1,738 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value of $299,526.92. Following the sale, the executive vice president now owns 10,751 shares in the company, valued at approximately $1,852,827.34. This trade represents a 13.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.53% of the stock is owned by corporate insiders.
M&T Bank Stock Down 0.8%
Shares of MTB traded down $1.54 during trading hours on Wednesday, reaching $182.59. The company's stock had a trading volume of 277,412 shares, compared to its average volume of 1,141,500. The firm has a market cap of $29.31 billion, a price-to-earnings ratio of 12.48, a P/E/G ratio of 1.38 and a beta of 0.58. M&T Bank Co. has a 1-year low of $139.78 and a 1-year high of $225.70. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The company has a 50 day moving average of $172.31 and a two-hundred day moving average of $188.39.
M&T Bank (NYSE:MTB - Get Free Report) last released its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the company posted $3.09 EPS. As a group, research analysts predict that M&T Bank Co. will post 16.57 EPS for the current fiscal year.
M&T Bank Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Monday, June 2nd. M&T Bank's payout ratio is 36.17%.
M&T Bank Company Profile
(
Free Report)
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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.
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