M&T Bank Co. (NYSE:MTB) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC boosted its holdings in shares of M&T Bank Co. (NYSE:MTB) by 12.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,800 shares of the financial services provider’s stock after acquiring an additional 422 shares during the period. GAMMA Investing LLC’s holdings in M&T Bank were worth $714,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in shares of M&T Bank in the third quarter valued at approximately $44,000. Principal Financial Group Inc. grew its holdings in M&T Bank by 1.4% in the 3rd quarter. Principal Financial Group Inc. now owns 199,111 shares of the financial services provider’s stock valued at $35,466,000 after buying an additional 2,797 shares in the last quarter. Smead Capital Management Inc. increased its stake in shares of M&T Bank by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 493,817 shares of the financial services provider’s stock worth $87,959,000 after acquiring an additional 16,657 shares during the last quarter. National Pension Service increased its stake in shares of M&T Bank by 5.2% in the 3rd quarter. National Pension Service now owns 268,138 shares of the financial services provider’s stock worth $47,761,000 after acquiring an additional 13,302 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of M&T Bank by 6.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 50,275 shares of the financial services provider’s stock worth $8,955,000 after acquiring an additional 2,883 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Trading Up 1.5 %

Shares of MTB stock opened at $191.54 on Friday. M&T Bank Co. has a fifty-two week low of $128.31 and a fifty-two week high of $225.70. The company has a 50 day moving average price of $203.61 and a 200 day moving average price of $180.34. The stock has a market capitalization of $31.78 billion, a P/E ratio of 14.18, a price-to-earnings-growth ratio of 2.83 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, topping the consensus estimate of $3.60 by $0.48. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.30 billion. Equities research analysts predict that M&T Bank Co. will post 14.63 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend was Monday, December 2nd. M&T Bank’s dividend payout ratio is currently 39.97%.

Analysts Set New Price Targets

MTB has been the topic of several recent research reports. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Wells Fargo & Company increased their price target on shares of M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a research note on Friday, November 15th. Citigroup lowered shares of M&T Bank from a “buy” rating to a “neutral” rating and lifted their price target for the company from $220.00 to $230.00 in a research report on Monday, November 25th. Bank of America upped their price objective on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Wolfe Research raised M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 target price for the company in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, M&T Bank presently has an average rating of “Hold” and a consensus price target of $215.50.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 2,490 shares of M&T Bank stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total transaction of $537,566.10. Following the completion of the sale, the insider now directly owns 16,429 shares of the company’s stock, valued at $3,546,856.81. The trade was a 13.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Tracy S. Woodrow sold 2,121 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total value of $468,210.75. Following the completion of the transaction, the executive vice president now owns 5,141 shares in the company, valued at approximately $1,134,875.75. The trade was a 29.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 84,994 shares of company stock valued at $17,211,278 in the last quarter. Corporate insiders own 0.82% of the company’s stock.

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.