M&T Bank Co. (NYSE:MTB) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd lessened its stake in M&T Bank Co. (NYSE:MTB) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,878 shares of the financial services provider’s stock after selling 431 shares during the period. Gulf International Bank UK Ltd’s holdings in M&T Bank were worth $3,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gemmer Asset Management LLC boosted its stake in M&T Bank by 53.2% in the third quarter. Gemmer Asset Management LLC now owns 193 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 67 shares in the last quarter. Moors & Cabot Inc. boosted its stake in M&T Bank by 696.6% in the third quarter. Moors & Cabot Inc. now owns 30,000 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 26,234 shares in the last quarter. Harvest Fund Management Co. Ltd raised its holdings in shares of M&T Bank by 185.4% in the second quarter. Harvest Fund Management Co. Ltd now owns 294 shares of the financial services provider’s stock valued at $43,000 after buying an additional 191 shares during the last quarter. Liberty Wealth Management LLC raised its holdings in shares of M&T Bank by 13,963.6% in the second quarter. Liberty Wealth Management LLC now owns 7,735 shares of the financial services provider’s stock valued at $53,000 after buying an additional 7,680 shares during the last quarter. Finally, Koshinski Asset Management Inc. purchased a new stake in shares of M&T Bank in the third quarter valued at about $62,000. Institutional investors own 85.30% of the company’s stock.

In other news, EVP Robert J. Bojdak sold 770 shares of the firm’s stock in a transaction on Monday, October 25th. The shares were sold at an average price of $158.76, for a total value of $122,245.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP D Scott N. Warman sold 3,964 shares of the firm’s stock in a transaction on Friday, November 12th. The shares were sold at an average price of $159.88, for a total transaction of $633,764.32. The disclosure for this sale can be found here. Company insiders own 0.64% of the company’s stock.

Several research firms recently issued reports on MTB. UBS Group began coverage on shares of M&T Bank in a report on Wednesday. They set a “buy” rating and a $212.00 price target for the company. Barclays increased their price target on shares of M&T Bank from $167.00 to $195.00 in a report on Monday, January 3rd. Royal Bank of Canada increased their target price on shares of M&T Bank from $166.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, October 21st. Morgan Stanley began coverage on shares of M&T Bank in a report on Tuesday. They issued an “equal weight” rating and a $195.00 target price for the company. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of M&T Bank in a report on Thursday, November 11th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $173.97.

Shares of NYSE MTB opened at $185.34 on Friday. M&T Bank Co. has a 1 year low of $128.46 and a 1 year high of $185.38. The firm’s 50 day moving average price is $157.79 and its 200 day moving average price is $148.09. The firm has a market cap of $23.85 billion, a P/E ratio of 13.29, a price-to-earnings-growth ratio of 0.89 and a beta of 1.08. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.07 and a current ratio of 1.07.

M&T Bank (NYSE:MTB) last announced its earnings results on Tuesday, October 19th. The financial services provider reported $3.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.50 by $0.19. M&T Bank had a net margin of 30.39% and a return on equity of 12.37%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter last year, the business earned $2.77 earnings per share. As a group, equities analysts predict that M&T Bank Co. will post 13.86 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 31st. Shareholders of record on Tuesday, November 30th were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, November 29th. This represents a $4.80 dividend on an annualized basis and a yield of 2.59%. This is an increase from M&T Bank’s previous quarterly dividend of $1.10. M&T Bank’s dividend payout ratio (DPR) is currently 34.41%.

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

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Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

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