What Do Hedge Funds Think of M&T Bank Corporation (MTB)?

Interestingly, Ken Gray and Steve Walsh’s Bryn Mawr Capital dumped the biggest stake of the “upper crust” of funds monitored by Insider Monkey, totaling an estimated $5.2 million in stock. Peter Muller’s fund, PDT Partners, also cut its stock, about $2.9 million worth. These transactions are important to note, as total hedge fund interest stayed the same (this is a bearish signal in our experience).

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as M&T Bank Corporation (NYSE:MTB) but similarly valued. We will take a look at Micron Technology, Inc. (NASDAQ:MU), Interactive Brokers Group, Inc. (NASDAQ:IBKR), Skyworks Solutions Inc (NASDAQ:SWKS), and EnergySolutions, Inc. (NYSE:ES). All of these stocks’ market caps match MTB’s market cap.

As you can see these stocks had an average of 39.25 hedge funds with bullish positions and the average amount invested in these stocks was $904 million. That figure was $834 million in MTB’s case. Micron Technology, Inc. (NASDAQ:MU) is the most popular stock in this table. On the other hand EnergySolutions, Inc. (NYSE:ES) is the least popular one with only 13 bullish hedge fund positions. M&T Bank Corporation (NYSE:MTB) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard MU might be a better candidate to consider a long position.