M&T Bank Co. (NYSE:MTB) Shares Sold by USS Investment Management Ltd

USS Investment Management Ltd lessened its position in shares of M&T Bank Co. (NYSE:MTB) by 10.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,691 shares of the financial services provider’s stock after selling 4,136 shares during the quarter. USS Investment Management Ltd’s holdings in M&T Bank were worth $6,525,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Banque Transatlantique SA purchased a new stake in M&T Bank during the 4th quarter worth about $38,000. Y.D. More Investments Ltd increased its position in M&T Bank by 122.6% during the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 114 shares in the last quarter. Human Investing LLC purchased a new stake in M&T Bank during the 4th quarter worth about $44,000. Sierra Ocean LLC purchased a new stake in M&T Bank during the 4th quarter worth about $44,000. Finally, Loomis Sayles & Co. L P purchased a new stake in M&T Bank during the 4th quarter worth about $52,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

MTB has been the subject of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of M&T Bank in a research report on Monday. Barclays dropped their price objective on M&T Bank from $235.00 to $220.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 15th. Citigroup dropped their price objective on M&T Bank from $230.00 to $195.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. DA Davidson lowered their price target on M&T Bank from $205.00 to $189.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Finally, Evercore ISI lowered their price target on M&T Bank from $234.00 to $205.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $212.53.

M&T Bank Stock Up 0.3%

Shares of NYSE:MTB opened at $180.52 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. M&T Bank Co. has a 1 year low of $139.78 and a 1 year high of $225.70. The stock has a market capitalization of $28.98 billion, a P/E ratio of 12.34, a PEG ratio of 1.38 and a beta of 0.58. The stock has a 50-day simple moving average of $172.02 and a 200-day simple moving average of $189.04.

M&T Bank (NYSE:MTB) last issued its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.03). The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.35 billion. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same quarter in the previous year, the firm posted $3.09 EPS. Equities analysts forecast that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Monday, June 2nd. M&T Bank’s dividend payout ratio (DPR) is presently 36.17%.

Insider Buying and Selling

In related news, EVP Christopher E. Kay sold 1,738 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total transaction of $299,526.92. Following the transaction, the executive vice president now directly owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. The trade was a 13.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.53% of the stock is currently owned by corporate 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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.