M&T Bank Co. (NYSE:MTB) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC grew its position in M&T Bank Co. (NYSE:MTB - Free Report) by 18,471.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 705,705 shares of the financial services provider's stock after buying an additional 701,905 shares during the period. GAMMA Investing LLC owned 0.43% of M&T Bank worth $126,145,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AdvisorNet Financial Inc grew its position in M&T Bank by 1,033.3% in the first quarter. AdvisorNet Financial Inc now owns 374 shares of the financial services provider's stock worth $67,000 after acquiring an additional 341 shares during the period. Versant Capital Management Inc grew its holdings in shares of M&T Bank by 94.7% during the 1st quarter. Versant Capital Management Inc now owns 1,067 shares of the financial services provider's stock worth $191,000 after purchasing an additional 519 shares during the period. Marcum Wealth LLC increased its position in shares of M&T Bank by 4.9% during the 1st quarter. Marcum Wealth LLC now owns 1,231 shares of the financial services provider's stock worth $220,000 after purchasing an additional 57 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in M&T Bank by 4.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 4,585 shares of the financial services provider's stock valued at $820,000 after buying an additional 185 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its position in M&T Bank by 100.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 32,686 shares of the financial services provider's stock valued at $6,145,000 after buying an additional 16,380 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on MTB. JPMorgan Chase & Co. dropped their price target on shares of M&T Bank from $212.50 to $186.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Citigroup dropped their target price on shares of M&T Bank from $230.00 to $195.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Truist Financial decreased their price target on M&T Bank from $225.00 to $200.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $200.00 price objective on shares of M&T Bank in a research note on Monday, May 19th. Finally, DA Davidson decreased their target price on M&T Bank from $205.00 to $189.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $212.53.

Insider Buying and Selling

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value of $299,526.92. Following the completion of the transaction, the executive vice president now owns 10,751 shares in the company, valued at $1,852,827.34. This represents a 13.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.53% of the stock is owned by company insiders.

M&T Bank Stock Up 1.5%

M&T Bank stock traded up $2.71 during midday trading on Tuesday, reaching $182.75. The company's stock had a trading volume of 1,060,709 shares, compared to its average volume of 1,155,105. The company has a market cap of $29.33 billion, a P/E ratio of 12.49, a P/E/G ratio of 1.38 and a beta of 0.58. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The business has a 50-day simple moving average of $172.34 and a 200-day simple moving average of $187.32. M&T Bank Co. has a fifty-two week low of $139.78 and a fifty-two week high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last issued its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share for the quarter, missing the consensus estimate of $3.41 by ($0.03). M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the business posted $3.09 EPS. On average, research analysts expect that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

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 given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend is Monday, June 2nd. M&T Bank's dividend payout ratio (DPR) is 36.17%.

M&T Bank Profile

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.