M&T Bank Co. (NYSE:MTB) Shares Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd increased its position in M&T Bank Co. (NYSE:MTB) by 1,694.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,407 shares of the financial services provider’s stock after acquiring an additional 31,545 shares during the period. M&T Bank makes up about 0.4% of Y Intercept Hong Kong Ltd’s investment portfolio, making the stock its 27th biggest position. Y Intercept Hong Kong Ltd’s holdings in M&T Bank were worth $6,281,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Raymond James & Associates increased its position in shares of M&T Bank by 11.0% in the third quarter. Raymond James & Associates now owns 66,209 shares of the financial services provider’s stock valued at $11,793,000 after buying an additional 6,552 shares in the last quarter. Signaturefd LLC increased its holdings in M&T Bank by 7.5% during the 3rd quarter. Signaturefd LLC now owns 1,895 shares of the financial services provider’s stock valued at $338,000 after acquiring an additional 133 shares in the last quarter. Private Advisor Group LLC raised its position in M&T Bank by 1.6% during the third quarter. Private Advisor Group LLC now owns 27,255 shares of the financial services provider’s stock worth $4,855,000 after acquiring an additional 435 shares during the last quarter. International Assets Investment Management LLC raised its position in M&T Bank by 17,784.1% during the third quarter. International Assets Investment Management LLC now owns 110,166 shares of the financial services provider’s stock worth $19,623,000 after acquiring an additional 109,550 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in shares of M&T Bank by 59.5% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 5,817 shares of the financial services provider’s stock valued at $1,036,000 after purchasing an additional 2,169 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Trading Down 2.0 %

NYSE MTB opened at $193.48 on Monday. The firm has a market capitalization of $31.80 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 1.38 and a beta of 0.79. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. M&T Bank Co. has a one year low of $133.03 and a one year high of $225.70. The company’s 50 day moving average price is $195.09 and its 200 day moving average price is $190.29.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, beating analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same period in the prior year, the firm posted $2.74 EPS. On average, sell-side analysts predict that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank announced that its Board of Directors has initiated a share 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 shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date is Monday, March 3rd. M&T Bank’s dividend payout ratio is presently 36.91%.

Insider Transactions at M&T Bank

In other news, Vice Chairman Gary N. Geisel sold 2,490 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total value of $537,566.10. Following the completion of the transaction, the insider now directly owns 16,429 shares in the company, valued at approximately $3,546,856.81. This represents a 13.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Tracy S. Woodrow sold 2,121 shares of M&T Bank stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total transaction of $468,210.75. Following the sale, the executive vice president now directly owns 5,141 shares in the company, valued at $1,134,875.75. This trade represents a 29.21 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Keefe, Bruyette & Woods lifted their price objective on M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Compass Point upped their price objective on M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Truist Financial reiterated a “buy” rating and set a $236.00 price objective (up previously from $233.00) on shares of M&T Bank in a research report on Friday, January 17th. Barclays boosted their target price on shares of M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Finally, DA Davidson lifted their price target on shares of M&T Bank from $222.00 to $223.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $221.68.

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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.