Golub Group LLC Boosts Stock Position in M&T Bank Co. (NYSE:MTB)

Golub Group LLC raised its position in shares of M&T Bank Co. (NYSE:MTB) by 6.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,058 shares of the financial services provider’s stock after purchasing an additional 755 shares during the quarter. Golub Group LLC’s holdings in M&T Bank were worth $1,905,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. First Trust Advisors LP raised its holdings in shares of M&T Bank by 19.3% during the third quarter. First Trust Advisors LP now owns 385,289 shares of the financial services provider’s stock valued at $60,864,000 after acquiring an additional 62,455 shares during the last quarter. Unigestion Holding SA raised its holdings in shares of M&T Bank by 26.4% during the third quarter. Unigestion Holding SA now owns 223,232 shares of the financial services provider’s stock valued at $35,264,000 after acquiring an additional 46,671 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of M&T Bank by 1.9% during the third quarter. Daiwa Securities Group Inc. now owns 5,278 shares of the financial services provider’s stock valued at $834,000 after acquiring an additional 97 shares during the last quarter. Keybank National Association OH raised its holdings in shares of M&T Bank by 7.2% during the third quarter. Keybank National Association OH now owns 6,642 shares of the financial services provider’s stock valued at $1,049,000 after acquiring an additional 445 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings in shares of M&T Bank by 24.0% during the third quarter. Parallel Advisors LLC now owns 547 shares of the financial services provider’s stock valued at $86,000 after acquiring an additional 106 shares during the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

MTB stock traded up $0.76 during midday trading on Friday, hitting $167.59. 545,509 shares of the company’s stock were exchanged, compared to its average volume of 745,258. The business has a 50-day simple moving average of $156.87 and a two-hundred day simple moving average of $160.42. The company has a current ratio of 1.01, a quick ratio of 1.06 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $22.21 billion, a PE ratio of 13.03, a P/E/G ratio of 1.35 and a beta of 1.11. M&T Bank Co. has a 1-year low of $133.78 and a 1-year high of $176.11.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, October 17th. The financial services provider reported $3.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.12). The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.53 billion. M&T Bank had a return on equity of 13.82% and a net margin of 28.58%. During the same period last year, the business earned $3.53 EPS. As a group, research analysts expect that M&T Bank Co. will post 13.7 EPS for the current fiscal year.

MTB has been the subject of several recent research reports. Macquarie set a $158.00 price target on M&T Bank and gave the company a “sell” rating in a report on Friday, July 19th. UBS Group cut their price target on M&T Bank from $164.00 to $161.00 and set a “neutral” rating for the company in a report on Monday, October 21st. Zacks Investment Research cut M&T Bank from a “hold” rating to a “sell” rating and set a $166.00 price target for the company. in a report on Wednesday, September 18th. Keefe, Bruyette & Woods cut M&T Bank from an “outperform” rating to a “market perform” rating and cut their price target for the company from $168.00 to $160.00 in a report on Friday, October 18th. Finally, Morgan Stanley cut their price target on M&T Bank from $175.00 to $172.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $167.62.

In other M&T Bank news, EVP Doris P. Meister sold 1,108 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $150.96, for a total transaction of $167,263.68. Following the completion of the sale, the executive vice president now owns 1,371 shares of the company’s stock, valued at $206,966.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Richard S. Gold sold 4,093 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $169.43, for a total value of $693,476.99. Following the sale, the chief operating officer now directly owns 38,936 shares of the company’s stock, valued at approximately $6,596,926.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,574 shares of company stock valued at $4,245,337. 0.54% of the stock is owned by insiders.

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.

Read More: Return on Investment (ROI)

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Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

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