Yousif Capital Management LLC Sells 668 Shares of M&T Bank Corporation $MTB

Yousif Capital Management LLC lowered its position in M&T Bank Corporation (NYSE:MTB) by 3.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,063 shares of the financial services provider’s stock after selling 668 shares during the period. Yousif Capital Management LLC’s holdings in M&T Bank were worth $3,892,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. First Manhattan CO. LLC. increased its position in shares of M&T Bank by 0.6% in the 1st quarter. First Manhattan CO. LLC. now owns 9,693 shares of the financial services provider’s stock valued at $1,733,000 after buying an additional 57 shares in the last quarter. Compound Planning Inc. increased its holdings in M&T Bank by 3.0% during the 1st quarter. Compound Planning Inc. now owns 2,222 shares of the financial services provider’s stock worth $397,000 after purchasing an additional 64 shares in the last quarter. Checchi Capital Advisers LLC increased its holdings in M&T Bank by 4.4% during the 1st quarter. Checchi Capital Advisers LLC now owns 1,579 shares of the financial services provider’s stock worth $282,000 after purchasing an additional 67 shares in the last quarter. Mayflower Financial Advisors LLC increased its holdings in M&T Bank by 3.9% during the 1st quarter. Mayflower Financial Advisors LLC now owns 1,876 shares of the financial services provider’s stock worth $335,000 after purchasing an additional 70 shares in the last quarter. Finally, HBK Sorce Advisory LLC increased its holdings in M&T Bank by 0.3% during the 1st quarter. HBK Sorce Advisory LLC now owns 24,560 shares of the financial services provider’s stock worth $4,390,000 after purchasing an additional 74 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

Insider Activity

In related news, Director Richard H. Jr. Ledgett sold 1,277 shares of the firm’s stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $197.48, for a total value of $252,181.96. Following the completion of the sale, the director directly owned 4,881 shares in the company, valued at approximately $963,899.88. This trade represents a 20.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Peter D’arcy sold 2,461 shares of the firm’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $197.31, for a total transaction of $485,579.91. Following the completion of the sale, the executive vice president owned 9,319 shares of the company’s stock, valued at $1,838,731.89. This trade represents a 20.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,738 shares of company stock worth $3,734,612 in the last quarter. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. UBS Group increased their target price on M&T Bank from $207.00 to $208.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Cantor Fitzgerald assumed coverage on M&T Bank in a report on Wednesday, September 10th. They set an “overweight” rating and a $228.00 target price for the company. Citigroup increased their target price on M&T Bank from $200.00 to $212.00 and gave the stock a “neutral” rating in a report on Wednesday, July 2nd. DA Davidson increased their target price on M&T Bank from $189.00 to $207.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Finally, Jefferies Financial Group increased their target price on M&T Bank from $220.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $216.18.

M&T Bank Price Performance

Shares of NYSE MTB opened at $185.05 on Thursday. The stock has a market capitalization of $28.92 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 0.93 and a beta of 0.62. The business has a 50-day moving average of $195.07 and a 200-day moving average of $186.23. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.97 and a quick ratio of 0.97. M&T Bank Corporation has a fifty-two week low of $150.75 and a fifty-two week high of $225.70.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share for the quarter. The company had revenue of $1.54 billion during the quarter. M&T Bank had a return on equity of 10.35% and a net margin of 20.44%. As a group, sell-side analysts predict that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd were issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Tuesday, September 2nd. This is a positive change from M&T Bank’s previous quarterly dividend of $1.35. M&T Bank’s dividend payout ratio is 38.86%.

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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.