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

Yousif Capital Management LLC lowered its stake in M&T Bank Co. (NYSE:MTB) by 4.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,777 shares of the financial services provider’s stock after selling 969 shares during the quarter. Yousif Capital Management LLC’s holdings in M&T Bank were worth $3,906,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MTB. FMR LLC lifted its holdings in shares of M&T Bank by 13.9% in the 3rd quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock worth $2,199,675,000 after acquiring an additional 1,508,846 shares during the last quarter. State Street Corp raised its position in M&T Bank by 6.4% in the third quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock valued at $1,562,725,000 after purchasing an additional 527,854 shares during the period. Zurich Insurance Group Ltd FI acquired a new position in M&T Bank during the third quarter worth $44,422,000. Charles Schwab Investment Management Inc. boosted its position in shares of M&T Bank by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock worth $897,216,000 after buying an additional 190,837 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of M&T Bank by 30.8% in the third quarter. The Manufacturers Life Insurance Company now owns 599,995 shares of the financial services provider’s stock valued at $106,871,000 after buying an additional 141,337 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 opened at $200.59 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.93 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a 52-week low of $129.36 and a 52-week high of $225.70. The stock has a 50 day moving average price of $197.49 and a 200 day moving average price of $187.72. The company has a market capitalization of $33.28 billion, a price-to-earnings ratio of 13.71, a price-to-earnings-growth ratio of 1.41 and a beta of 0.79.

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 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 period in the prior year, the business posted $2.74 EPS. Research analysts predict that M&T Bank Co. will post 16.56 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date was Monday, December 2nd. M&T Bank’s dividend payout ratio (DPR) is currently 36.91%.

M&T Bank declared that its Board of Directors 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 buy up to 12.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MTB shares. Truist Financial reissued a “buy” rating and set a $236.00 target price (up previously from $233.00) on shares of M&T Bank in a research note on Friday, January 17th. Compass Point increased their price target on shares of M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Barclays lifted their price objective on shares of M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Piper Sandler increased their target price on shares of M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $223.50 price target (up previously from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. One equities research 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 data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $221.68.

Insider Activity at M&T Bank

In other M&T Bank news, EVP Michael J. Todaro sold 4,786 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $214.10, for a total value of $1,024,682.60. Following the completion of the sale, the executive vice president now owns 2,787 shares in the company, valued at approximately $596,696.70. The trade was a 63.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Tracy S. Woodrow sold 2,121 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total transaction of $468,210.75. Following the transaction, 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. Insiders sold a total of 29,397 shares of company stock valued at $6,379,459 in the last three months. 0.82% of the stock is currently owned by company insiders.

M&T Bank 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.