GAMMA Investing LLC Takes Position in M&T Bank Co. (NYSE:MTB)

GAMMA Investing LLC purchased a new stake in M&T Bank Co. (NYSE:MTB) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,227 shares of the financial services provider’s stock, valued at approximately $169,000.

A number of other institutional investors have also modified their holdings of the company. Headinvest LLC acquired a new stake in M&T Bank in the 3rd quarter worth approximately $29,000. BKM Wealth Management LLC acquired a new stake in M&T Bank in the 4th quarter worth approximately $32,000. Creative Financial Designs Inc. ADV acquired a new stake in M&T Bank in the 4th quarter worth approximately $33,000. CVA Family Office LLC acquired a new stake in M&T Bank in the 4th quarter worth approximately $33,000. Finally, Planned Solutions Inc. acquired a new stake in M&T Bank in the 4th quarter worth approximately $33,000. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Price Performance

NYSE:MTB opened at $146.38 on Friday. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $148.93. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $24.39 billion, a PE ratio of 9.90, a price-to-earnings-growth ratio of 1.23 and a beta of 0.80. The stock’s 50-day moving average price is $141.00 and its 200-day moving average price is $133.77.

M&T Bank (NYSE:MTB) last posted its earnings results on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the business earned $4.09 earnings per share. As a group, equities analysts expect that M&T Bank Co. will post 13.92 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank’s payout ratio is 35.16%.

Insider Buying and Selling

In related news, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the sale, the director now directly owns 6,367 shares in the company, valued at approximately $923,215. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $132.30, for a total value of $132,300.00. Following the transaction, the executive vice president now directly owns 7,274 shares of the company’s stock, valued at approximately $962,350.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kirk W. Walters sold 28,845 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the transaction, the director now directly owns 6,367 shares in the company, valued at $923,215. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,119 shares of company stock worth $5,341,012. Insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

MTB has been the subject of a number of recent analyst reports. Morgan Stanley lifted their target price on shares of M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Jefferies Financial Group dropped their price objective on shares of M&T Bank from $154.00 to $151.00 and set a “hold” rating on the stock in a report on Monday, April 8th. Wells Fargo & Company raised their target price on shares of M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 16th. Keefe, Bruyette & Woods upped their price target on shares of M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a report on Tuesday, April 16th. Finally, Bank of America increased their price target on M&T Bank from $157.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $158.48.

M&T Bank Profile

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.