Gulf International Bank UK Ltd Sells 571 Shares of M&T Bank Co. (NYSE:MTB)

Gulf International Bank UK Ltd decreased its position in M&T Bank Co. (NYSE:MTB) by 4.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 13,111 shares of the financial services provider’s stock after selling 571 shares during the period. Gulf International Bank UK Ltd’s holdings in M&T Bank were worth $2,335,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in MTB. Massachusetts Financial Services Co. MA grew its holdings in M&T Bank by 4.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock worth $269,696,000 after acquiring an additional 81,004 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of M&T Bank by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock worth $244,129,000 after purchasing an additional 93,113 shares during the period. Bank of New York Mellon Corp grew its stake in shares of M&T Bank by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 1,513,452 shares of the financial services provider’s stock worth $229,076,000 after purchasing an additional 44,442 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in M&T Bank by 3.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,398,199 shares of the financial services provider’s stock valued at $211,631,000 after purchasing an additional 43,795 shares during the period. Finally, Los Angeles Capital Management LLC raised its position in M&T Bank by 77.0% during the 2nd quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock valued at $110,993,000 after purchasing an additional 319,051 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Kirk W. Walters sold 2,471 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.60, for a total transaction of $60,786.60. Following the sale, the director now owns 20,414 shares in the company, valued at $502,184.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Michael J. Todaro sold 4,791 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $162.57, for a total transaction of $778,872.87. Following the transaction, the executive vice president now directly owns 3,086 shares of the company’s stock, valued at $501,691.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kirk W. Walters sold 2,471 shares of M&T Bank stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.60, for a total value of $60,786.60. Following the completion of the sale, the director now owns 20,414 shares of the company’s stock, valued at $502,184.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,734 shares of company stock valued at $14,055,727. Insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MTB shares. JPMorgan Chase & Co. raised M&T Bank from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $183.00 to $215.00 in a research note on Tuesday, September 3rd. Barclays boosted their price objective on shares of M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Citigroup lifted their target price on shares of M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Wedbush increased their price target on shares of M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Finally, Keefe, Bruyette & Woods lifted their price objective on M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, M&T Bank currently has an average rating of “Hold” and an average target price of $198.76.

M&T Bank Trading Up 12.1 %

NYSE MTB opened at $216.56 on Thursday. M&T Bank Co. has a 12 month low of $115.93 and a 12 month high of $216.84. The company has a current ratio of 0.94, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. The stock’s fifty day moving average price is $181.20 and its 200-day moving average price is $163.98. The stock has a market cap of $36.13 billion, a P/E ratio of 16.03, a P/E/G ratio of 2.72 and a beta of 0.74.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 2.49%. M&T Bank’s dividend payout ratio is currently 39.97%.

M&T Bank Company Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.