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

Y Intercept Hong Kong Ltd raised its stake in M&T Bank Co. (NYSE:MTB) by 1,694.1% in the 4th quarter, Holdings Channel.com reports. 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 0.4% of Y Intercept Hong Kong Ltd’s holdings, making the stock its 27th biggest holding. Y Intercept Hong Kong Ltd’s holdings in M&T Bank were worth $6,281,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MTB. Evercore ISI increased their target price on shares of M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. The Goldman Sachs Group increased their price objective on shares of M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. DA Davidson increased their price target on M&T Bank from $222.00 to $223.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Finally, Citigroup cut 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 report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $221.68.

Insider Transactions at M&T Bank

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

M&T Bank Stock Down 2.0 %

M&T Bank stock opened at $193.48 on Monday. The stock has a market cap 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 current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average price is $195.09 and its two-hundred day moving average price is $190.29. M&T Bank Co. has a 52 week low of $133.03 and a 52 week high of $225.70.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data 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 quarter last year, the firm earned $2.74 EPS. On average, analysts expect that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

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

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

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.