Plato Investment Management Ltd acquired a new position in M&T Bank Corporation (NYSE:MTB – Free Report) in the second quarter, Holdings Channel reports. The firm acquired 5,703 shares of the financial services provider’s stock, valued at approximately $1,349,000.
Several other large investors also recently added to or reduced their stakes in the company. Bogart Wealth LLC boosted its position in shares of M&T Bank by 233.3% in the first quarter. Bogart Wealth LLC now owns 120 shares of the financial services provider’s stock worth $25,000 after buying an additional 84 shares during the period. Triumph Capital Management purchased a new stake in M&T Bank in the 3rd quarter worth about $32,000. Elyxium Wealth LLC purchased a new stake in M&T Bank in the 4th quarter worth about $33,000. Bank of Jackson Hole Trust boosted its position in M&T Bank by 38.7% during the 4th quarter. Bank of Jackson Hole Trust now owns 215 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 60 shares during the period. Finally, FNY Investment Advisers LLC acquired a new stake in M&T Bank during the 2nd quarter worth about $51,000. 84.68% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on MTB shares. UBS Group upped their target price on M&T Bank from $252.00 to $255.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Evercore set a $260.00 price objective on shares of M&T Bank in a research report on Monday, July 6th. Deutsche Bank Aktiengesellschaft downgraded shares of M&T Bank from a “buy” rating to a “hold” rating and set a $250.00 target price for the company. in a research report on Thursday, July 23rd. Royal Bank Of Canada boosted their price target on shares of M&T Bank from $230.00 to $255.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. Finally, Robert W. Baird increased their price objective on M&T Bank from $240.00 to $250.00 and gave the stock a “neutral” rating in a 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 company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $252.28.
M&T Bank Price Performance
NYSE MTB opened at $252.68 on Tuesday. 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 capitalization 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. M&T Bank Corporation has a 12-month low of $174.76 and a 12-month high of $255.95. The company has a 50 day moving average price of $241.85 and a two-hundred day moving average price 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 earnings per share for the quarter, beating the consensus estimate of $4.66 by $0.69. M&T Bank had a return on equity of 11.80% and a net margin of 22.72%.The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period last year, the company earned $4.28 earnings per share. As a group, equities analysts predict that M&T Bank Corporation will post 19.42 earnings per share for the current fiscal year.
M&T Bank Company Profile
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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