M&T Bank Co. (NYSE:MTB) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC trimmed its stake in M&T Bank Co. (NYSE:MTB) by 4.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 23,761 shares of the financial services provider’s stock after selling 1,036 shares during the period. Yousif Capital Management LLC’s holdings in M&T Bank were worth $3,257,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. GSA Capital Partners LLP acquired a new stake in M&T Bank during the 3rd quarter worth about $833,000. Tokio Marine Asset Management Co. Ltd. grew its stake in M&T Bank by 8.3% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,985 shares of the financial services provider’s stock valued at $504,000 after acquiring an additional 305 shares in the last quarter. NBC Securities Inc. acquired a new position in shares of M&T Bank in the 3rd quarter valued at about $299,000. Metis Global Partners LLC lifted its position in shares of M&T Bank by 15.2% in the third quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider’s stock worth $893,000 after purchasing an additional 931 shares in the last quarter. Finally, Matrix Asset Advisors Inc. NY boosted its holdings in shares of M&T Bank by 15.7% during the fourth quarter. Matrix Asset Advisors Inc. NY now owns 92,537 shares of the financial services provider’s stock worth $12,685,000 after purchasing an additional 12,590 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

M&T Bank Stock Performance

MTB opened at $146.38 on Monday. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The stock’s 50 day moving average price is $141.00 and its two-hundred day moving average price is $133.88. The firm has a market capitalization of $24.39 billion, a P/E ratio of 9.90, a price-to-earnings-growth ratio of 1.22 and a beta of 0.80. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $148.93.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11). The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same quarter in the previous year, the business posted $4.09 EPS. On average, equities analysts forecast that M&T Bank Co. will post 13.92 earnings per share for the current year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were issued a dividend of $1.30 per share. The ex-dividend date was Friday, March 1st. This represents a $5.20 annualized dividend and a dividend yield of 3.55%. M&T Bank’s payout ratio is 35.16%.

Insider Activity

In related news, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the sale, the director now directly owns 6,367 shares of the company’s stock, valued at $923,215. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Doris P. Meister sold 1,638 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total transaction of $226,387.98. Following the sale, the executive vice president now directly owns 3,362 shares in the company, valued at $464,662.02. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the sale, the director now owns 6,367 shares in the company, valued at approximately $923,215. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,119 shares of company stock valued at $5,341,012. Insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Evercore ISI increased their price objective on M&T Bank from $146.00 to $157.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. Bank of America raised their price target on M&T Bank from $157.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Jefferies Financial Group lowered their price target on M&T Bank from $154.00 to $151.00 and set a “hold” rating for the company in a research note on Monday, April 8th. Barclays raised their price objective on shares of M&T Bank from $150.00 to $170.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $160.00 target price on shares of M&T Bank in a research report on Tuesday, April 16th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $158.48.

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.