GAMMA Investing LLC Purchases 768 Shares of M&T Bank Co. (NYSE:MTB)

GAMMA Investing LLC raised its position in shares of M&T Bank Co. (NYSE:MTB) by 29.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,378 shares of the financial services provider’s stock after purchasing an additional 768 shares during the quarter. GAMMA Investing LLC’s holdings in M&T Bank were worth $602,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. General Partner Inc. bought a new stake in shares of M&T Bank during the first quarter valued at approximately $27,000. Fidelis Capital Partners LLC purchased a new stake in M&T Bank during the 1st quarter valued at $30,000. Oakworth Capital Inc. bought a new stake in shares of M&T Bank in the 2nd quarter worth $35,000. Quent Capital LLC raised its stake in shares of M&T Bank by 75.7% in the third quarter. Quent Capital LLC now owns 397 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 171 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of M&T Bank by 82.7% during the second quarter. Versant Capital Management Inc now owns 444 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 201 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at M&T Bank

In related news, Director Robert E. Sadler, Jr. sold 1,000 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total transaction of $172,230.00. Following the completion of the sale, the director now owns 31,796 shares in the company, valued at approximately $5,476,225.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other M&T Bank news, Director Kirk W. Walters sold 7,464 shares of M&T Bank stock in a transaction on Friday, July 26th. The shares were sold at an average price of $173.97, for a total value of $1,298,512.08. Following the sale, the director now directly owns 15,045 shares in the company, valued at approximately $2,617,378.65. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total transaction of $172,230.00. Following the completion of the sale, the director now owns 31,796 shares in the company, valued at approximately $5,476,225.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,699 shares of company stock valued at $5,115,349 over the last ninety days. 0.82% of the stock is currently owned by company insiders.

M&T Bank Trading Down 0.2 %

Shares of NYSE:MTB opened at $177.52 on Wednesday. The stock has a 50 day moving average of $168.96 and a 200 day moving average of $156.14. The company has a market cap of $29.62 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 3.55 and a beta of 0.75. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $180.63. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. The business had revenue of $3.37 billion during the quarter, compared to analyst estimates of $2.27 billion. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. During the same period in the prior year, the business posted $5.12 earnings per share. As a group, equities research analysts expect that M&T Bank Co. will post 14.23 EPS for the current year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were paid a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 3.04%. M&T Bank’s payout ratio is presently 36.51%.

Wall Street Analyst Weigh In

MTB has been the subject of several research analyst reports. Evercore ISI upgraded M&T Bank from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $187.00 to $210.00 in a report on Wednesday, October 2nd. Wedbush boosted their price objective on shares of M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. upgraded shares of M&T Bank from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $183.00 to $215.00 in a report on Tuesday, September 3rd. Wells Fargo & Company lowered shares of M&T Bank from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $170.00 to $165.00 in a research note on Thursday, August 15th. Finally, Piper Sandler raised their price target on M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $185.75.

About M&T Bank

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.