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

GTS Securities LLC lowered its stake in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 53.8% during the fourth quarter, according to the company in its most recent disclosure 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 period. GTS Securities LLC's holdings in M&T Bank were worth $2,202,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of MTB. Flagship Harbor Advisors LLC boosted its stake in M&T Bank by 89.8% during the 4th quarter. Flagship Harbor Advisors LLC now owns 2,737 shares of the financial services provider's stock worth $515,000 after acquiring an additional 1,295 shares during the last quarter. US Bancorp DE raised its holdings in M&T Bank by 24.3% in the fourth quarter. US Bancorp DE now owns 8,382 shares of the financial services provider's stock worth $1,576,000 after purchasing an additional 1,639 shares during the period. Summit Trail Advisors LLC bought a new position in shares of M&T Bank during the fourth quarter worth $290,000. Valeo Financial Advisors LLC acquired a new position in shares of M&T Bank in the 4th quarter valued at $297,000. Finally, Van ECK Associates Corp increased its position in shares of M&T Bank by 1,262.9% in the 4th quarter. Van ECK Associates Corp now owns 22,175 shares of the financial services provider's stock valued at $4,169,000 after buying an additional 20,548 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Christopher E. Kay sold 1,738 shares of the firm's stock in a transaction that occurred 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 directly owns 10,751 shares of the company's stock, valued at $1,852,827.34. This trade represents a 13.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.53% of the stock is owned by insiders.

M&T Bank Stock Down 1.4%

Shares of NYSE:MTB traded down $2.53 during trading on Wednesday, hitting $181.60. 1,009,696 shares of the company were exchanged, compared to its average volume of 1,144,346. M&T Bank Co. has a fifty-two week low of $139.78 and a fifty-two week high of $225.70. The stock has a market cap of $29.15 billion, a price-to-earnings ratio of 12.41, a P/E/G ratio of 1.38 and a beta of 0.58. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The firm has a fifty day moving average price of $172.31 and a two-hundred day moving average price of $188.39.

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 analysts' consensus estimates of $3.41 by ($0.03). The firm 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 quarter in the previous year, the firm posted $3.09 earnings per share. As a group, research analysts anticipate that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be issued a $1.35 dividend. The ex-dividend date is Monday, June 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.97%. M&T Bank's payout ratio is 36.17%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. DA Davidson lowered their price target on 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 raised M&T Bank from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. JPMorgan Chase & Co. cut their price target on shares of M&T Bank from $212.50 to $186.50 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Deutsche Bank Aktiengesellschaft upgraded shares of M&T Bank from a "hold" rating to a "buy" rating and set a $210.00 price target for the company in a report on Thursday, April 24th. Finally, Evercore ISI dropped their price objective on shares of M&T Bank from $234.00 to $205.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price 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.