GAMMA Investing LLC Raises Position in M&T Bank Co. (NYSE:MTB)

GAMMA Investing LLC increased its stake in M&T Bank Co. (NYSE:MTB) by 25.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,534 shares of the financial services provider’s stock after purchasing an additional 307 shares during the quarter. GAMMA Investing LLC’s holdings in M&T Bank were worth $223,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. HHM Wealth Advisors LLC bought a new stake in shares of M&T Bank in the fourth quarter valued at $25,000. General Partner Inc. bought a new stake in M&T Bank in the 1st quarter valued at about $27,000. Headinvest LLC purchased a new stake in M&T Bank during the third quarter valued at about $29,000. BKM Wealth Management LLC bought a new position in M&T Bank during the fourth quarter worth about $32,000. Finally, Creative Financial Designs Inc. ADV purchased a new position in shares of M&T Bank in the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Buying and Selling at M&T Bank

In other news, Director John P. Barnes sold 10,000 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $147.11, for a total value of $1,471,100.00. Following the completion of the sale, the director now directly owns 34,545 shares of the company’s stock, valued at approximately $5,081,914.95. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other M&T Bank news, Director John P. Barnes sold 43,426 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $154.50, for a total value of $6,709,317.00. Following the completion of the transaction, the director now owns 35,480 shares in the company, valued at $5,481,660. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John P. Barnes sold 10,000 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $147.11, for a total transaction of $1,471,100.00. Following the sale, the director now owns 34,545 shares in the company, valued at approximately $5,081,914.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 97,553 shares of company stock valued at $14,724,147. 0.82% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently commented on MTB shares. Jefferies Financial Group upped their price target on shares of M&T Bank from $151.00 to $160.00 and gave the company a “hold” rating in a research note on Tuesday, June 4th. StockNews.com cut M&T Bank from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $160.00 target price on shares of M&T Bank in a report on Tuesday, April 16th. Keefe, Bruyette & Woods increased their price target on shares of M&T Bank from $162.00 to $170.00 and gave the stock a “market perform” rating in a report on Tuesday, April 16th. Finally, Piper Sandler raised their price target on shares of M&T Bank from $152.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $159.79.

M&T Bank Stock Up 0.7 %

Shares of NYSE MTB opened at $147.82 on Friday. The company has a market cap of $24.66 billion, a price-to-earnings ratio of 9.99, a PEG ratio of 2.88 and a beta of 0.78. The firm’s fifty day moving average is $147.19 and its 200 day moving average is $141.27. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.46. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $156.65.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The business had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter in the prior year, the firm earned $4.09 EPS. On average, equities research analysts expect that M&T Bank Co. will post 14.02 earnings per share for the current year.

M&T Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be paid a $1.35 dividend. This is a positive change from M&T Bank’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 3.65%. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

M&T Bank 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.