Commerzbank Aktiengesellschaft FI Acquires New Holdings in M&T Bank Corporation $MTB

Key Points

• Commerzbank Aktiengesellschaft FI acquired 7,616 shares of M&T Bank worth approximately $1.81 million during the second quarter. Institutional investors collectively own 84.68% of MTB.
• M&T Bank reported quarterly earnings of $5.35 per share, beating estimates of $4.66, while revenue of $2.53 billion also exceeded expectations.
• Analysts have a consensus “Hold” rating on the stock, with an average price target of $252.28; shares recently opened at $252.68, near their 52-week high of $255.95.

Commerzbank Aktiengesellschaft FI bought a new stake in M&T Bank Corporation (NYSE:MTB - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 7,616 shares of the financial services provider's stock, valued at approximately $1,813,000.

A number of other large investors have also added to or reduced their stakes in MTB. LSV Asset Management grew its position in shares of M&T Bank by 14.5% in the 4th quarter. LSV Asset Management now owns 391,900 shares of the financial services provider's stock worth $78,960,000 after buying an additional 49,500 shares during the last quarter. Adams Diversified Equity Fund Inc. raised its stake in shares of M&T Bank by 22.8% during the 1st quarter. Adams Diversified Equity Fund Inc. now owns 119,900 shares of the financial services provider's stock worth $24,786,000 after acquiring an additional 22,300 shares in the last quarter. Allstate Corp lifted its position in M&T Bank by 99.4% during the fourth quarter. Allstate Corp now owns 11,242 shares of the financial services provider's stock valued at $2,265,000 after acquiring an additional 5,604 shares during the last quarter. SG Americas Securities LLC lifted its position in M&T Bank by 34.8% during the first quarter. SG Americas Securities LLC now owns 85,770 shares of the financial services provider's stock valued at $17,730,000 after acquiring an additional 22,132 shares during the last quarter. Finally, Entropy Technologies LP boosted its stake in M&T Bank by 107.6% in the fourth quarter. Entropy Technologies LP now owns 48,018 shares of the financial services provider's stock valued at $9,675,000 after acquiring an additional 24,887 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Stock Performance

Shares of MTB stock opened at $252.68 on Tuesday. M&T Bank Corporation has a 52-week low of $174.76 and a 52-week high of $255.95. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.53. The stock has a market cap of $36.49 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 1.18 and a beta of 0.57. The business has a 50-day simple moving average of $241.85 and a 200-day simple moving average of $224.92.

M&T Bank (NYSE:MTB - Get Free Report) last posted its earnings results on Wednesday, July 15th. The financial services provider reported $5.35 EPS for the quarter, topping the consensus estimate of $4.66 by $0.69. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.46 billion. M&T Bank had a return on equity of 11.80% and a net margin of 22.72%.During the same period last year, the company earned $4.28 earnings per share. On average, equities analysts expect that M&T Bank Corporation will post 19.42 EPS for the current year.

Analyst Ratings Changes

MTB has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of M&T Bank from $251.50 to $265.50 and gave the stock a "neutral" rating in a report on Wednesday, July 29th. Evercore set a $260.00 price objective on M&T Bank in a report on Monday, July 6th. Morgan Stanley raised their price objective on M&T Bank from $245.00 to $253.00 and gave the stock an "equal weight" rating in a research report on Monday, June 29th. Wall Street Zen upgraded M&T Bank from a "sell" rating to a "hold" rating in a research note on Monday, July 20th. Finally, Robert W. Baird upped their target price on M&T Bank from $240.00 to $250.00 and gave the company a "neutral" rating in a research report on Thursday, July 16th. Seven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $252.28.

About M&T Bank

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source