Plato Investment Management Ltd purchased a new position in M&T Bank Corporation (NYSE:MTB - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 5,703 shares of the financial services provider's stock, valued at approximately $1,349,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MTB. Bank of New York Mellon Corp acquired a new stake in M&T Bank in the second quarter worth $330,978,000. Miller Howard Investments Inc. NY acquired a new stake in shares of M&T Bank in the 4th quarter worth about $42,817,000. Danske Bank A S bought a new stake in M&T Bank in the 3rd quarter valued at about $29,612,000. Russell Investments Group Ltd. lifted its position in M&T Bank by 35.4% in the 4th quarter. Russell Investments Group Ltd. now owns 396,531 shares of the financial services provider's stock valued at $79,954,000 after purchasing an additional 103,692 shares during the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich boosted its stake in M&T Bank by 37.1% during the 4th quarter. Munich Reinsurance Co Stock Corp in Munich now owns 351,076 shares of the financial services provider's stock valued at $71,462,000 after purchasing an additional 95,025 shares during the period. Institutional investors and hedge funds own 84.68% of the company's stock.
M&T Bank Stock Down 0.6%
NYSE MTB opened at $252.68 on Tuesday. M&T Bank Corporation has a 12 month low of $174.76 and a 12 month high of $255.95. The company has a market capitalization of $36.49 billion, a P/E ratio of 13.34, a PEG ratio of 1.18 and a beta of 0.57. The company's 50 day simple moving average is $241.85 and its 200 day simple moving average is $224.92. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.96 and a quick ratio of 0.96.
M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $0.69. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the previous year, the business posted $4.28 earnings per share. Equities research analysts expect that M&T Bank Corporation will post 19.42 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on MTB shares. Morgan Stanley raised their price target on shares of M&T Bank from $245.00 to $253.00 and gave the company an "equal weight" rating in a research note on Monday, June 29th. Barclays increased their price objective on M&T Bank from $236.00 to $267.00 and gave the stock an "equal weight" rating in a report on Thursday, July 16th. Truist Financial lifted their target price on M&T Bank from $230.00 to $268.00 and gave the company a "hold" rating in a research note on Tuesday, July 21st. Wells Fargo & Company boosted their price target on M&T Bank from $215.00 to $224.00 and gave the stock an "underweight" rating in a research report on Thursday, July 16th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $300.00 price target on shares of M&T Bank in a research note on Wednesday, July 15th. Seven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, M&T Bank currently has a consensus rating of "Hold" and an average price target of $252.28.
Read Our Latest Research Report on MTB
About M&T Bank
(
Free Report)
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.
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