Gordian Capital Singapore Pte Ltd Buys Shares of 4,470 M&T Bank Co. (NYSE:MTB)

Gordian Capital Singapore Pte Ltd acquired a new stake in M&T Bank Co. (NYSE:MTB - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,470 shares of the financial services provider's stock, valued at approximately $840,000.

A number of other hedge funds have also recently modified their holdings of the company. Pinkerton Retirement Specialists LLC purchased a new stake in shares of M&T Bank in the fourth quarter valued at about $783,000. Focus Partners Advisor Solutions LLC grew its holdings in shares of M&T Bank by 81.3% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 6,774 shares of the financial services provider's stock valued at $1,274,000 after purchasing an additional 3,037 shares during the period. Note Advisors LLC purchased a new position in M&T Bank during the fourth quarter worth about $339,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in M&T Bank by 16.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,088,949 shares of the financial services provider's stock worth $204,733,000 after buying an additional 155,374 shares during the period. Finally, Waverly Advisors LLC purchased a new position in M&T Bank during the fourth quarter worth about $312,000. Hedge funds and other institutional investors own 84.68% of the company's stock.

Insider Activity at M&T Bank

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

M&T Bank Stock Up 2.0%

MTB stock traded up $3.53 during midday trading on Tuesday, reaching $182.97. 312,946 shares of the company were exchanged, compared to its average volume of 1,141,750. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. M&T Bank Co. has a 1-year low of $139.78 and a 1-year high of $225.70. The stock's 50-day simple moving average is $172.17 and its 200 day simple moving average is $188.41. The company has a market cap of $29.37 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58.

M&T Bank (NYSE:MTB - Get Free Report) last released its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 earnings per share for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.35 billion. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same period in the previous year, the business posted $3.09 EPS. On average, equities analysts forecast that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of M&T Bank from $212.50 to $186.50 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Barclays lowered their target price on shares of M&T Bank from $235.00 to $220.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 15th. Citigroup lowered 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 research note on Monday, March 24th. Royal Bank of Canada reissued an "outperform" rating and set a $200.00 price target on shares of M&T Bank in a research report on Monday, May 19th. Finally, Piper Sandler reduced their price target on shares of M&T Bank from $220.00 to $210.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $212.53.

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.