GTS Securities LLC Has $2.20 Million Position in M&T Bank Co. (NYSE:MTB)

GTS Securities LLC lessened its holdings in M&T Bank Co. (NYSE:MTB - Free Report) by 53.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,713 shares of the financial services provider's stock after selling 13,620 shares during the quarter. GTS Securities LLC's holdings in M&T Bank were worth $2,202,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vise Technologies Inc. increased its holdings in M&T Bank by 58.8% in the fourth quarter. Vise Technologies Inc. now owns 2,638 shares of the financial services provider's stock valued at $496,000 after purchasing an additional 977 shares during the last quarter. Connecticut Wealth Management LLC grew its position in shares of M&T Bank by 2.4% during the 4th quarter. Connecticut Wealth Management LLC now owns 7,872 shares of the financial services provider's stock worth $1,480,000 after buying an additional 185 shares during the period. Gordian Capital Singapore Pte Ltd bought a new stake in shares of M&T Bank in the 4th quarter valued at about $840,000. Pinkerton Retirement Specialists LLC acquired a new stake in shares of M&T Bank in the 4th quarter valued at approximately $783,000. Finally, Focus Partners Advisor Solutions LLC raised its position in shares of M&T Bank by 81.3% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 6,774 shares of the financial services provider's stock valued at $1,274,000 after acquiring an additional 3,037 shares during the period. Institutional investors and hedge funds own 84.68% of the company's stock.

Insider Buying and Selling

In other news, EVP Christopher E. Kay sold 1,738 shares of the business's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the transaction, the executive vice president now directly owns 10,751 shares in the company, valued at $1,852,827.34. The trade was a 13.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is currently owned by corporate insiders.

M&T Bank Stock Up 0.5%

Shares of MTB traded up $0.89 during mid-day trading on Thursday, hitting $182.33. 429,672 shares of the company's stock were exchanged, compared to its average volume of 1,143,796. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99. M&T Bank Co. has a 52 week low of $139.78 and a 52 week high of $225.70. The company has a market cap of $29.27 billion, a PE ratio of 12.46, a P/E/G ratio of 1.38 and a beta of 0.58. The company has a 50-day simple moving average of $172.38 and a 200 day simple moving average of $188.34.

M&T Bank (NYSE:MTB - Get Free Report) last released its earnings results 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). M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the business posted $3.09 EPS. On average, research analysts forecast 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 2.96%. The ex-dividend date of this dividend is Monday, June 2nd. M&T Bank's dividend payout ratio is currently 36.17%.

Analysts Set New Price Targets

MTB has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of M&T Bank from $212.50 to $186.50 and set a "neutral" rating for the company in a report on Thursday, April 3rd. DA Davidson decreased their price target on shares of M&T Bank from $205.00 to $189.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. 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. Piper Sandler reduced their target price on M&T Bank from $220.00 to $210.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Finally, Jefferies Financial Group set a $225.00 price target on M&T Bank and gave the stock a "buy" rating in a report on Wednesday, May 21st. One equities 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 stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price 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.