Barings LLC boosted its position in shares of M&T Bank Co. (NYSE:MTB) by 117.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,681 shares of the financial services provider’s stock after buying an additional 4,690 shares during the period. Barings LLC’s holdings in M&T Bank were worth $1,428,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. grew its stake in M&T Bank by 8,330.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 843 shares of the financial services provider’s stock worth $143,000 after buying an additional 833 shares in the last quarter. NEXT Financial Group Inc acquired a new stake in M&T Bank during the third quarter worth about $165,000. Cerebellum GP LLC acquired a new stake in M&T Bank during the second quarter worth about $171,000. Lcnb Corp acquired a new stake in M&T Bank during the second quarter worth about $214,000. Finally, NuWave Investment Management LLC grew its stake in M&T Bank by 113.0% during the second quarter. NuWave Investment Management LLC now owns 1,299 shares of the financial services provider’s stock worth $221,000 after buying an additional 689 shares in the last quarter. Hedge funds and other institutional investors own 80.67% of the company’s stock.
A number of brokerages have issued reports on MTB. Robert W. Baird upgraded shares of M&T Bank from a “neutral” rating to an “outperform” rating in a research note on Tuesday, October 23rd. Zacks Investment Research cut shares of M&T Bank from a “buy” rating to a “hold” rating in a report on Monday, October 22nd. Piper Jaffray Companies raised shares of M&T Bank from a “neutral” rating to an “overweight” rating and set a $194.00 target price for the company in a report on Monday, October 22nd. Wedbush set a $188.00 target price on shares of M&T Bank and gave the stock a “hold” rating in a report on Thursday, October 18th. Finally, Nomura dropped their target price on shares of M&T Bank from $195.00 to $178.00 and set a “neutral” rating for the company in a report on Thursday, October 18th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. M&T Bank currently has a consensus rating of “Hold” and a consensus target price of $184.36.
In related news, Director Denis J. Salamone sold 25,209 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $179.76, for a total value of $4,531,569.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.48% of the stock is owned by company insiders.
MTB stock opened at $164.00 on Friday. The stock has a market capitalization of $23.47 billion, a PE ratio of 17.54, a P/E/G ratio of 1.03 and a beta of 0.94. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 1.06. M&T Bank Co. has a 12 month low of $154.33 and a 12 month high of $197.37.
M&T Bank (NYSE:MTB) last posted its earnings results on Wednesday, October 17th. The financial services provider reported $3.53 EPS for the quarter, topping analysts’ consensus estimates of $3.35 by $0.18. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.50 billion. M&T Bank had a net margin of 26.84% and a return on equity of 13.15%. During the same quarter in the prior year, the business earned $2.21 earnings per share. As a group, analysts anticipate that M&T Bank Co. will post 13.04 EPS for the current year.
M&T Bank Profile
M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide retail and commercial banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals.
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