Gotham Asset Management LLC Purchases 1,023 Shares of M&T Bank Co. (NYSE:MTB)

Gotham Asset Management LLC lifted its position in shares of M&T Bank Co. (NYSE:MTB) by 43.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,403 shares of the financial services provider’s stock after purchasing an additional 1,023 shares during the period. Gotham Asset Management LLC’s holdings in M&T Bank were worth $640,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Sanctuary Advisors LLC grew its holdings in M&T Bank by 0.3% during the 4th quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider’s stock worth $3,195,000 after acquiring an additional 52 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of M&T Bank by 5.8% in the fourth quarter. Quadrant Capital Group LLC now owns 971 shares of the financial services provider’s stock worth $183,000 after purchasing an additional 53 shares during the last quarter. Catalina Capital Group LLC increased its holdings in M&T Bank by 2.0% in the fourth quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider’s stock valued at $531,000 after purchasing an additional 56 shares during the period. Parallel Advisors LLC raised its position in M&T Bank by 1.7% during the 4th quarter. Parallel Advisors LLC now owns 3,512 shares of the financial services provider’s stock worth $660,000 after purchasing an additional 60 shares during the last quarter. Finally, Forum Financial Management LP raised its position in M&T Bank by 2.2% during the 4th quarter. Forum Financial Management LP now owns 2,873 shares of the financial services provider’s stock worth $540,000 after purchasing an additional 62 shares during 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 M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value of $299,526.92. Following the transaction, the executive vice president now directly owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. This trade represents a 13.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.53% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MTB shares. Wells Fargo & Company decreased their price target on M&T Bank from $185.00 to $175.00 and set an “underweight” rating for the company in a research note on Tuesday, April 15th. Piper Sandler reduced their target price on M&T Bank from $220.00 to $210.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft upgraded shares of M&T Bank from a “hold” rating to a “buy” rating and set a $210.00 price target for the company in a report on Thursday, April 24th. Truist Financial reduced their price objective on shares of M&T Bank from $225.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Finally, DA Davidson decreased their price objective on shares of M&T Bank from $205.00 to $189.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, M&T Bank presently has a consensus rating of “Hold” and an average price target of $209.33.

M&T Bank Stock Performance

Shares of MTB opened at $187.78 on Monday. M&T Bank Co. has a one year low of $139.78 and a one year high of $225.70. The company has a market cap of $30.14 billion, a PE ratio of 12.83, a P/E/G ratio of 1.38 and a beta of 0.58. The stock has a 50-day moving average of $171.22 and a 200-day moving average of $189.23. 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 (NYSE:MTB) last announced its quarterly earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.41 by ($0.03). The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.35 billion. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same quarter in the previous year, the company posted $3.09 EPS. On average, equities research analysts predict that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank announced that its board has authorized a share buyback program on Wednesday, January 22nd that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 12.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend was Monday, March 3rd. M&T Bank’s payout ratio is currently 36.17%.

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.