1,862 Shares in M&T Bank Co. (NYSE:MTB) Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd bought a new stake in M&T Bank Co. (NYSE:MTB) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 1,862 shares of the financial services provider’s stock, valued at approximately $332,000.

A number of other hedge funds have also made changes to their positions in MTB. MML Investors Services LLC grew its stake in M&T Bank by 13.4% in the 3rd quarter. MML Investors Services LLC now owns 6,852 shares of the financial services provider’s stock valued at $1,220,000 after acquiring an additional 809 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in shares of M&T Bank in the third quarter valued at approximately $44,422,000. EP Wealth Advisors LLC purchased a new position in shares of M&T Bank during the 3rd quarter worth approximately $1,148,000. State Street Corp raised its position in shares of M&T Bank by 6.4% during the 3rd quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock worth $1,562,725,000 after purchasing an additional 527,854 shares during the last quarter. Finally, Stifel Financial Corp lifted its stake in M&T Bank by 11.2% in the 3rd quarter. Stifel Financial Corp now owns 393,624 shares of the financial services provider’s stock valued at $70,113,000 after buying an additional 39,759 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Performance

Shares of MTB stock opened at $196.17 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44. The company has a market cap of $32.55 billion, a PE ratio of 14.52, a P/E/G ratio of 2.83 and a beta of 0.76. The company’s fifty day simple moving average is $203.86 and its 200-day simple moving average is $176.78. M&T Bank Co. has a 52 week low of $128.31 and a 52 week high of $225.70.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, beating the consensus estimate of $3.60 by $0.48. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.30 billion. As a group, equities research analysts anticipate that M&T Bank Co. will post 14.63 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Monday, December 2nd. M&T Bank’s dividend payout ratio (DPR) is presently 39.97%.

Insider Buying and Selling at M&T Bank

In related news, Director John P. Barnes sold 20,000 shares of M&T Bank stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $193.97, for a total value of $3,879,400.00. Following the completion of the sale, the director now owns 49,960 shares in the company, valued at approximately $9,690,741.20. The trade was a 28.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John R. Taylor sold 1,436 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $195.03, for a total transaction of $280,063.08. Following the transaction, the executive vice president now directly owns 5,618 shares in the company, valued at $1,095,678.54. The trade was a 20.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 84,994 shares of company stock valued at $17,211,278 over the last 90 days. 0.82% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MTB has been the subject of a number of recent research reports. Compass Point lifted their price objective on M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. DA Davidson lifted their target price on shares of M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Citigroup lowered M&T Bank from a “buy” rating to a “neutral” rating and increased their price target for the stock from $220.00 to $230.00 in a research note on Monday, November 25th. Piper Sandler upped their target price on M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Finally, Evercore ISI raised their price target on M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $211.58.

M&T Bank Company Profile

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.