Tidal Investments LLC Sells 11,122 Shares of M&T Bank Co. (NYSE:MTB)

Tidal Investments LLC reduced its stake in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 43.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 14,271 shares of the financial services provider's stock after selling 11,122 shares during the period. Tidal Investments LLC's holdings in M&T Bank were worth $2,683,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Banque Transatlantique SA acquired a new stake in M&T Bank during the 4th quarter worth approximately $38,000. Y.D. More Investments Ltd raised its holdings in shares of M&T Bank by 122.6% in the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 114 shares during the last quarter. Human Investing LLC acquired a new stake in shares of M&T Bank in the fourth quarter valued at approximately $44,000. Sierra Ocean LLC acquired a new stake in shares of M&T Bank in the fourth quarter valued at approximately $44,000. Finally, Loomis Sayles & Co. L P acquired a new stake in shares of M&T Bank in the fourth quarter valued at approximately $52,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Robert W. Baird lowered their price objective on shares of M&T Bank from $220.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Wells Fargo & Company lowered their price objective on shares of M&T Bank from $185.00 to $175.00 and set an "underweight" rating on the stock in a report on Tuesday, April 15th. TD Cowen assumed coverage on shares of M&T Bank in a report on Thursday, May 15th. They issued a "buy" rating and a $230.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of M&T Bank from a "hold" rating to a "buy" rating and set a $210.00 price objective on the stock in a report on Thursday, April 24th. Finally, DA Davidson decreased their target price on shares of M&T Bank from $205.00 to $189.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $212.53.

Insider Activity

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 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. The trade was a 13.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.53% of the stock is currently owned by company insiders.

M&T Bank Stock Performance

MTB stock traded up $2.62 during midday trading on Tuesday, reaching $182.06. 177,919 shares of the company were exchanged, compared to its average volume of 1,329,517. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99. The business has a 50-day moving average price of $172.17 and a two-hundred day moving average price of $188.41. M&T Bank Co. has a one year low of $139.78 and a one year high of $225.70. The firm has a market capitalization of $29.22 billion, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58.

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

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 dividend yield of 2.97%. M&T Bank's payout ratio is presently 36.17%.

M&T Bank Company 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.