Gamco Investors INC. ET AL Sells 800 Shares of M&T Bank Co. (NYSE:MTB)

Gamco Investors INC. ET AL trimmed its position in M&T Bank Co. (NYSE:MTB) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,622 shares of the financial services provider’s stock after selling 800 shares during the period. Gamco Investors INC. ET AL’s holdings in M&T Bank were worth $3,877,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of MTB. Hennion & Walsh Asset Management Inc. lifted its position in M&T Bank by 34.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 7,835 shares of the financial services provider’s stock worth $1,473,000 after buying an additional 2,018 shares in the last quarter. Flagship Harbor Advisors LLC raised its holdings in M&T Bank by 89.8% during the fourth quarter. Flagship Harbor Advisors LLC now owns 2,737 shares of the financial services provider’s stock worth $515,000 after acquiring an additional 1,295 shares in the last quarter. US Bancorp DE boosted its position in M&T Bank by 24.3% during the fourth quarter. US Bancorp DE now owns 8,382 shares of the financial services provider’s stock valued at $1,576,000 after purchasing an additional 1,639 shares during the last quarter. Summit Trail Advisors LLC acquired a new position in M&T Bank during the fourth quarter valued at approximately $290,000. Finally, Valeo Financial Advisors LLC bought a new position in M&T Bank in the fourth quarter valued at approximately $297,000. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Activity at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the completion of the transaction, the executive vice president now directly owns 10,751 shares of the company’s stock, valued at $1,852,827.34. The trade was a 13.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is currently owned by corporate insiders.

M&T Bank Stock Performance

Shares of NYSE MTB opened at $160.09 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99. The firm has a market cap of $26.30 billion, a price-to-earnings ratio of 10.94, a P/E/G ratio of 1.38 and a beta of 0.58. The stock’s fifty day moving average price is $178.03 and its two-hundred day moving average price is $191.19. M&T Bank Co. has a one year low of $138.38 and a one year high of $225.70.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing the consensus estimate of $3.41 by ($0.03). M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. The business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the company posted $3.09 earnings per share. On average, equities analysts forecast that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank declared that its board has approved a share buyback plan on Wednesday, January 22nd that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were given a $1.35 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.37%. M&T Bank’s payout ratio is 36.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MTB shares. Evercore ISI dropped their price objective on M&T Bank from $234.00 to $205.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. Citigroup dropped their price target on shares of M&T Bank from $230.00 to $195.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. JPMorgan Chase & Co. decreased their price objective on shares of M&T Bank from $212.50 to $186.50 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Barclays dropped their target price on shares of M&T Bank from $235.00 to $220.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $208.14.

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.