M&T Bank Corporation (NYSE:MTB) Stock Holdings Decreased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd trimmed its position in shares of M&T Bank Corporation (NYSE:MTB - Free Report) by 48.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,212 shares of the financial services provider's stock after selling 16,195 shares during the period. Y Intercept Hong Kong Ltd's holdings in M&T Bank were worth $3,077,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. FMR LLC grew its holdings in M&T Bank by 14.3% during the 4th quarter. FMR LLC now owns 14,110,412 shares of the financial services provider's stock worth $2,652,899,000 after acquiring an additional 1,761,014 shares in the last quarter. Geode Capital Management LLC grew its holdings in M&T Bank by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 4,370,762 shares of the financial services provider's stock worth $819,768,000 after acquiring an additional 40,948 shares in the last quarter. Norges Bank acquired a new position in M&T Bank during the 4th quarter worth $317,690,000. Northern Trust Corp grew its holdings in M&T Bank by 14.7% during the 4th quarter. Northern Trust Corp now owns 1,683,329 shares of the financial services provider's stock worth $316,483,000 after acquiring an additional 215,100 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in M&T Bank by 2.1% during the 4th quarter. First Trust Advisors LP now owns 1,605,724 shares of the financial services provider's stock worth $301,892,000 after acquiring an additional 33,017 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MTB. Piper Sandler decreased their price objective on shares of M&T Bank from $220.00 to $210.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. DA Davidson raised their price objective on shares of M&T Bank from $189.00 to $207.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Wall Street Zen upgraded shares of M&T Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Wells Fargo & Company raised their price target on shares of M&T Bank from $175.00 to $185.00 and gave the stock an "underweight" rating in a research report on Thursday, July 17th. Finally, 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 report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, M&T Bank presently has a consensus rating of "Moderate Buy" and an average price target of $212.88.

M&T Bank Stock Performance

NYSE:MTB traded down $0.52 during mid-day trading on Friday, hitting $193.16. The stock had a trading volume of 325,755 shares, compared to its average volume of 1,303,504. The stock has a market capitalization of $31.00 billion, a price-to-earnings ratio of 12.51, a P/E/G ratio of 0.96 and a beta of 0.63. The company has a 50 day simple moving average of $189.40 and a 200-day simple moving average of $184.51. M&T Bank Corporation has a 52 week low of $150.75 and a 52 week high of $225.70. The company has a current ratio of 0.91, a quick ratio of 0.97 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $4.28 EPS for the quarter, topping analysts' consensus estimates of $4.04 by $0.24. M&T Bank had a net margin of 20.44% and a return on equity of 10.35%. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same period in the previous year, the firm earned $3.73 EPS. On average, research analysts expect that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were paid a $1.35 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.80%. M&T Bank's dividend payout ratio is currently 34.97%.

Insider Transactions at M&T Bank

In other news, EVP Peter D'arcy sold 2,461 shares of M&T Bank stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $197.31, for a total value of $485,579.91. Following the transaction, the executive vice president owned 9,319 shares of the company's stock, valued at $1,838,731.89. The trade was a 20.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard H. Jr. Ledgett sold 1,277 shares of M&T Bank stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $197.48, for a total transaction of $252,181.96. Following the completion of the transaction, the director directly owned 4,881 shares in the company, valued at $963,899.88. This represents a 20.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,438 shares of company stock valued at $1,967,346 in the last quarter. Insiders own 0.53% of the company's stock.

M&T Bank Company 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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.