Gulf International Bank UK Ltd Sells 129 Shares of M&T Bank Co. (NYSE:MTB)

Gulf International Bank UK Ltd trimmed its position in M&T Bank Co. (NYSE:MTB) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,982 shares of the financial services provider’s stock after selling 129 shares during the period. Gulf International Bank UK Ltd’s holdings in M&T Bank were worth $2,440,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Plato Investment Management Ltd lifted its holdings in shares of M&T Bank by 2,300.0% in the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 161 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of M&T Bank in the third quarter valued at about $32,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of M&T Bank by 329.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 158 shares in the last quarter. Y.D. More Investments Ltd lifted its holdings in shares of M&T Bank by 122.6% in the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 114 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of M&T Bank in the third quarter valued at about $44,000. 84.68% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Vice Chairman Gary N. Geisel sold 2,490 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total value of $537,566.10. Following the transaction, the insider now owns 16,429 shares of the company’s stock, valued at approximately $3,546,856.81. This represents a 13.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.82% of the stock is owned by company insiders.

M&T Bank Price Performance

Shares of NYSE MTB opened at $191.68 on Friday. The business’s 50 day moving average price is $195.03 and its two-hundred day moving average price is $190.91. The company has a market cap of $31.50 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 1.38 and a beta of 0.79. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a twelve month low of $133.03 and a twelve month high of $225.70.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, beating the consensus estimate of $3.70 by $0.22. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same period in the prior year, the business earned $2.74 EPS. On average, analysts predict that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank declared that its board has approved a stock repurchase plan on Wednesday, January 22nd that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Monday, March 3rd. M&T Bank’s payout ratio is 36.91%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Piper Sandler boosted their price target on M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Keefe, Bruyette & Woods upped their target price on M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Wells Fargo & Company upped their target price on M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a report on Friday, November 15th. The Goldman Sachs Group upped their target price on M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Finally, StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. 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 stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $221.68.

About M&T Bank

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.