4,218 Shares in M&T Bank Co. (NYSE:MTB) Purchased by GSA Capital Partners LLP

GSA Capital Partners LLP purchased a new position in shares of M&T Bank Co. (NYSE:MTB) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,218 shares of the financial services provider’s stock, valued at approximately $613,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Burns J W & Co. Inc. NY boosted its holdings in M&T Bank by 1.3% during the fourth quarter. Burns J W & Co. Inc. NY now owns 6,034 shares of the financial services provider’s stock worth $827,000 after purchasing an additional 80 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in M&T Bank by 3.2% during the fourth quarter. First Horizon Advisors Inc. now owns 2,548 shares of the financial services provider’s stock worth $349,000 after purchasing an additional 80 shares during the last quarter. Fulton Bank N.A. boosted its holdings in M&T Bank by 2.3% during the first quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider’s stock worth $526,000 after purchasing an additional 81 shares during the last quarter. Tritonpoint Wealth LLC boosted its holdings in M&T Bank by 2.3% during the first quarter. Tritonpoint Wealth LLC now owns 3,833 shares of the financial services provider’s stock worth $510,000 after purchasing an additional 87 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its stake in M&T Bank by 0.3% in the first quarter. Retirement Systems of Alabama now owns 36,672 shares of the financial services provider’s stock valued at $5,334,000 after acquiring an additional 95 shares during the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on MTB shares. DA Davidson reiterated a “neutral” rating and issued a $159.00 target price on shares of M&T Bank in a research note on Tuesday, April 16th. Bank of America boosted their target price on shares of M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Jefferies Financial Group boosted their target price on shares of M&T Bank from $160.00 to $161.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Wells Fargo & Company boosted their target price on shares of M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $170.00 price target on shares of M&T Bank in a research note on Thursday, June 27th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $161.58.

Insider Activity

In other news, Director John P. Barnes sold 43,426 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $154.50, for a total transaction of $6,709,317.00. Following the sale, the director now owns 35,480 shares in the company, valued at approximately $5,481,660. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director John P. Barnes sold 43,426 shares of M&T Bank stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $154.50, for a total value of $6,709,317.00. Following the transaction, the director now owns 35,480 shares in the company, valued at approximately $5,481,660. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Doris P. Meister sold 1,638 shares of M&T Bank stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total transaction of $226,387.98. Following the completion of the transaction, the executive vice president now owns 3,362 shares in the company, valued at approximately $464,662.02. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,553 shares of company stock worth $14,724,147. 0.82% of the stock is currently owned by corporate insiders.

M&T Bank Stock Performance

NYSE MTB opened at $155.21 on Friday. M&T Bank Co. has a 1 year low of $108.53 and a 1 year high of $156.66. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $25.90 billion, a PE ratio of 10.49, a P/E/G ratio of 3.62 and a beta of 0.77. The company’s 50 day simple moving average is $149.21 and its two-hundred day simple moving average is $142.85.

M&T Bank (NYSE:MTB) last posted its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11). The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same quarter in the prior year, the company earned $4.09 earnings per share. Analysts predict that M&T Bank Co. will post 13.9 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 Friday, June 28th. Stockholders of record on Monday, June 3rd were given a dividend of $1.35 per share. The ex-dividend date was Monday, June 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.48%. This is a boost from M&T Bank’s previous quarterly dividend of $1.30. M&T Bank’s dividend payout ratio (DPR) is 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.