CIBC Asset Management Inc grew its position in shares of M&T Bank Co. (NYSE:MTB) by 3.9% during the first quarter, HoldingsChannel.com reports. The firm owned 31,003 shares of the financial services provider’s stock after buying an additional 1,177 shares during the period. CIBC Asset Management Inc’s holdings in M&T Bank were worth $4,868,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Doyle Wealth Management purchased a new stake in shares of M&T Bank during the fourth quarter valued at approximately $29,000. Financial Gravity Companies Inc. purchased a new stake in shares of M&T Bank during the fourth quarter valued at approximately $30,000. JOYN Advisors Inc. raised its stake in shares of M&T Bank by 141.4% during the fourth quarter. JOYN Advisors Inc. now owns 239 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 140 shares during the period. Liberty Wealth Management LLC raised its stake in shares of M&T Bank by 972.7% during the first quarter. Liberty Wealth Management LLC now owns 236 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 214 shares during the period. Finally, Pearl River Capital LLC purchased a new stake in shares of M&T Bank during the first quarter valued at approximately $42,000. Institutional investors own 82.10% of the company’s stock.
Shares of NYSE:MTB opened at $161.31 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market capitalization of $22.01 billion, a P/E ratio of 12.54, a P/E/G ratio of 1.47 and a beta of 1.08. M&T Bank Co. has a 12-month low of $133.78 and a 12-month high of $185.61.
M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.30 by $0.05. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.51 billion. M&T Bank had a net margin of 30.84% and a return on equity of 14.46%. During the same quarter in the previous year, the firm earned $2.23 earnings per share. Equities research analysts predict that M&T Bank Co. will post 14.61 earnings per share for the current year.
In other M&T Bank news, Director Gary N. Geisel sold 1,001 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.00, for a total transaction of $173,173.00. Following the completion of the sale, the director now owns 17,512 shares in the company, valued at $3,029,576. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Robert J. Bojdak sold 1,638 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $170.03, for a total transaction of $278,509.14. Following the sale, the insider now owns 20,199 shares of the company’s stock, valued at approximately $3,434,435.97. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,221 shares of company stock valued at $2,259,658. 0.54% of the stock is owned by insiders.
MTB has been the topic of a number of analyst reports. Citigroup lifted their price objective on shares of M&T Bank from $162.00 to $172.00 and gave the company a “neutral” rating in a research note on Tuesday, March 19th. Robert W. Baird lowered shares of M&T Bank from an “outperform” rating to a “neutral” rating and set a $175.00 price target for the company. in a research note on Thursday, February 21st. ValuEngine upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Zacks Investment Research lowered shares of M&T Bank from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. Finally, UBS Group set a $169.00 price target on shares of M&T Bank and gave the stock a “hold” rating in a research note on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $179.25.
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M&T Bank Company Profile
M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.
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