Cantor Fitzgerald Investment Advisors L.P. Sells 9,452 Shares of M&T Bank Corporation (NYSE:MTB)

Cantor Fitzgerald Investment Advisors L.P. lowered its position in shares of M&T Bank Corporation (NYSE:MTB - Free Report) by 51.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,800 shares of the financial services provider's stock after selling 9,452 shares during the quarter. Cantor Fitzgerald Investment Advisors L.P.'s holdings in M&T Bank were worth $1,573,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. FMR LLC grew its position in M&T Bank by 14.3% during the 4th quarter. FMR LLC now owns 14,110,412 shares of the financial services provider's stock worth $2,652,899,000 after acquiring an additional 1,761,014 shares during the last quarter. Norges Bank acquired a new position in M&T Bank in the fourth quarter worth $317,690,000. GAMMA Investing LLC grew its holdings in shares of M&T Bank by 18,471.2% during the first quarter. GAMMA Investing LLC now owns 705,705 shares of the financial services provider's stock worth $126,145,000 after purchasing an additional 701,905 shares during the last quarter. Nuveen Asset Management LLC increased its stake in shares of M&T Bank by 22.3% in the fourth quarter. Nuveen Asset Management LLC now owns 1,567,270 shares of the financial services provider's stock valued at $294,662,000 after buying an additional 286,049 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. bought a new position in shares of M&T Bank in the fourth quarter valued at about $48,939,000. Institutional investors and hedge funds own 84.68% of the company's stock.

M&T Bank Stock Performance

MTB stock opened at $181.39 on Friday. M&T Bank Corporation has a 1-year low of $145.25 and a 1-year high of $225.70. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.39. The firm has a market cap of $29.12 billion, a PE ratio of 12.15, a P/E/G ratio of 1.32 and a beta of 0.62. The business's 50-day moving average price is $176.15 and its two-hundred day moving average price is $184.49.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.41 by ($0.03). The business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.35 billion. M&T Bank had a net margin of 19.86% and a return on equity of 10.18%. During the same quarter in the prior year, the firm posted $3.09 earnings per share. As a group, research analysts forecast that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Monday, June 2nd. M&T Bank's payout ratio is presently 36.17%.

Insiders Place Their Bets

In related news, Director Robert E. Sadler, Jr. sold 6,700 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $183.52, for a total transaction of $1,229,584.00. Following the completion of the transaction, the director now owns 23,070 shares in the company, valued at approximately $4,233,806.40. This represents a 22.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.53% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Morgan Stanley decreased their price objective on shares of M&T Bank from $269.00 to $253.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Wells Fargo & Company lowered their target price on M&T Bank from $185.00 to $175.00 and set an "underweight" rating for the company in a research note on Tuesday, April 15th. TD Cowen started coverage on M&T Bank in a research note on Thursday, May 15th. They set a "buy" rating and a $230.00 price target on the stock. Citigroup lowered 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. Finally, Wall Street Zen upgraded shares of M&T Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $212.53.

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.

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