9,964 Shares in M&T Bank Co. (NYSE:MTB) Bought by Woodline Partners LP

Woodline Partners LP acquired a new position in M&T Bank Co. (NYSE:MTB - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 9,964 shares of the financial services provider's stock, valued at approximately $1,873,000.

Other hedge funds also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC grew its position in 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 period. US Bancorp DE grew its position 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 acquiring an additional 1,639 shares during the period. Summit Trail Advisors LLC purchased a new position in M&T Bank in the fourth quarter worth approximately $290,000. Valeo Financial Advisors LLC purchased a new position in M&T Bank in the fourth quarter worth approximately $297,000. Finally, Van ECK Associates Corp boosted its position in shares of M&T Bank by 1,262.9% during the fourth quarter. Van ECK Associates Corp now owns 22,175 shares of the financial services provider's stock worth $4,169,000 after buying an additional 20,548 shares during the period. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MTB shares. TD Cowen assumed coverage on M&T Bank in a research report on Thursday, May 15th. They set a "buy" rating and a $230.00 price target for the company. Robert W. Baird decreased their target price on M&T Bank from $220.00 to $200.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Wells Fargo & Company decreased their target price on M&T Bank from $185.00 to $175.00 and set an "underweight" rating for the company in a report on Tuesday, April 15th. Evercore ISI decreased their target price on M&T Bank from $234.00 to $205.00 and set an "outperform" rating for the company in a report on Thursday, March 13th. Finally, Piper Sandler decreased their price target on M&T Bank from $220.00 to $210.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. 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 stock. According to MarketBeat.com, M&T Bank has a consensus rating of "Moderate Buy" and a consensus price target of $212.53.

Insider Buying and Selling

In related news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction on 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 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 document filed with the SEC, which can be accessed through this link. 0.53% of the stock is currently owned by insiders.

M&T Bank Stock Performance

NYSE MTB traded down $0.86 on Friday, hitting $182.10. 229,017 shares of the company's stock were exchanged, compared to its average volume of 1,145,100. 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 fifty-two week low of $139.78 and a fifty-two week high of $225.70. The firm has a market cap of $29.23 billion, a price-to-earnings ratio of 12.44, a P/E/G ratio of 1.38 and a beta of 0.58. The firm's 50-day moving average price is $172.39 and its two-hundred day moving average price is $188.12.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly 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 analysts' expectations of $2.35 billion. During the same quarter last year, the firm earned $3.09 earnings per share. On average, research analysts expect that M&T Bank Co. will post 16.57 EPS 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 issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $5.40 annualized dividend and a yield of 2.97%. M&T Bank's dividend payout ratio is presently 36.17%.

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.