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

GTS Securities LLC decreased its position in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 53.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Flagship Harbor Advisors LLC grew its stake in shares of M&T Bank by 89.8% in the fourth 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 grew its stake in shares of 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 acquiring an additional 1,639 shares during the last quarter. Summit Trail Advisors LLC acquired a new stake in shares of M&T Bank in the fourth quarter worth $290,000. Valeo Financial Advisors LLC acquired a new stake in shares of M&T Bank in the fourth quarter worth $297,000. Finally, Van ECK Associates Corp grew its stake in shares of M&T Bank by 1,262.9% in the fourth quarter. Van ECK Associates Corp now owns 22,175 shares of the financial services provider's stock worth $4,169,000 after acquiring an additional 20,548 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company's stock.

Analyst Ratings Changes

MTB has been the subject of several research reports. Evercore ISI reduced their target price on M&T Bank from $234.00 to $205.00 and set an "outperform" rating for the company in a research report on Thursday, March 13th. JPMorgan Chase & Co. reduced their target price on 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. Jefferies Financial Group set a $225.00 target price on M&T Bank and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Citigroup reduced their target price 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, Robert W. Baird reduced their target price on M&T Bank from $220.00 to $200.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $212.53.

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 stock was sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the transaction, the executive vice president now directly owns 10,751 shares in the company, valued at approximately $1,852,827.34. The trade was a 13.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.53% of the company's stock.

M&T Bank Trading Up 2.6%

MTB stock traded up $4.70 during midday trading on Tuesday, reaching $184.14. The stock had a trading volume of 1,113,933 shares, compared to its average volume of 1,144,885. The business has a fifty day simple moving average of $172.17 and a two-hundred day simple moving average of $188.41. 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 firm has a market cap of $29.56 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 1.38 and a beta of 0.58. M&T Bank Co. has a twelve month low of $139.78 and a twelve month high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). The firm had revenue of $2.31 billion during 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 business earned $3.09 earnings per share. As a group, research analysts expect that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Dividend Announcement

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 is Monday, June 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.93%. M&T Bank's payout ratio 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.