GAMMA Investing LLC Has $706,000 Stock Holdings in M&T Bank Corporation (NYSE:MTB)

GAMMA Investing LLC lifted its position in shares of M&T Bank Corporation (NYSE:MTB) by 3.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,948 shares of the financial services provider’s stock after purchasing an additional 148 shares during the quarter. GAMMA Investing LLC’s holdings in M&T Bank were worth $706,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its holdings in M&T Bank by 3.8% during the first quarter. Farther Finance Advisors LLC now owns 2,726 shares of the financial services provider’s stock worth $481,000 after acquiring an additional 99 shares in the last quarter. Courier Capital LLC raised its position in shares of M&T Bank by 5.0% during the first quarter. Courier Capital LLC now owns 33,704 shares of the financial services provider’s stock worth $6,025,000 after purchasing an additional 1,620 shares during the period. Park Avenue Securities LLC lifted its holdings in shares of M&T Bank by 74.3% during the 1st quarter. Park Avenue Securities LLC now owns 11,409 shares of the financial services provider’s stock valued at $2,039,000 after purchasing an additional 4,862 shares in the last quarter. UMB Bank n.a. grew its position in shares of M&T Bank by 17.6% in the 1st quarter. UMB Bank n.a. now owns 688 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 103 shares during the period. Finally, Breakwater Capital Group increased its stake in M&T Bank by 28.8% during the 1st quarter. Breakwater Capital Group now owns 2,061 shares of the financial services provider’s stock worth $368,000 after purchasing an additional 461 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Buying and Selling at M&T Bank

In other news, Director Robert E. Sadler, Jr. sold 6,700 shares of the company’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $183.52, for a total value of $1,229,584.00. Following the sale, the director directly owned 23,070 shares of the company’s stock, valued at approximately $4,233,806.40. This represents a 22.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is owned by corporate insiders.

M&T Bank Stock Up 0.1%

NYSE:MTB opened at $194.06 on Tuesday. M&T Bank Corporation has a twelve month low of $145.82 and a twelve month high of $225.70. The firm has a market capitalization of $31.15 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 1.40 and a beta of 0.62. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.39. The stock’s 50 day moving average price is $180.66 and its two-hundred day moving average price is $183.38.

M&T Bank (NYSE:MTB) last released its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share for the quarter, missing the consensus estimate of $3.41 by ($0.03). M&T Bank had a net margin of 19.86% and a return on equity of 10.18%. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the prior year, the business posted $3.09 earnings per share. Equities research analysts expect that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend was Monday, June 2nd. M&T Bank’s dividend payout ratio (DPR) is presently 36.17%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Piper Sandler cut their price target on shares of M&T Bank from $220.00 to $210.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. Wells Fargo & Company cut 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 research report on Tuesday, April 15th. Jefferies Financial Group set a $225.00 target price on shares of M&T Bank and gave the stock a “buy” rating in a research note on Wednesday, May 21st. JPMorgan Chase & Co. dropped their price target on M&T Bank from $212.50 to $186.50 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Finally, TD Cowen began coverage on M&T Bank in a research report on Thursday, May 15th. They set a “buy” rating and a $230.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $210.88.

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.