20,492 Shares in M&T Bank Co. (NYSE:MTB) Acquired by SlateStone Wealth LLC

SlateStone Wealth LLC bought a new position in shares of M&T Bank Co. (NYSE:MTB) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 20,492 shares of the financial services provider’s stock, valued at approximately $3,479,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. USS Investment Management Ltd boosted its position in M&T Bank by 1.8% during the 4th quarter. USS Investment Management Ltd now owns 749,075 shares of the financial services provider’s stock worth $127,140,000 after acquiring an additional 13,023 shares during the last quarter. Pendal Group Ltd acquired a new position in M&T Bank during the 4th quarter worth approximately $100,079,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in M&T Bank by 0.4% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 517,843 shares of the financial services provider’s stock worth $87,904,000 after acquiring an additional 2,049 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in M&T Bank by 2.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 499,971 shares of the financial services provider’s stock worth $78,980,000 after acquiring an additional 11,361 shares during the last quarter. Finally, Fenimore Asset Management Inc. boosted its position in M&T Bank by 0.7% during the 4th quarter. Fenimore Asset Management Inc. now owns 432,528 shares of the financial services provider’s stock worth $73,422,000 after acquiring an additional 2,940 shares during the last quarter. 81.68% of the stock is owned by institutional investors and hedge funds.

MTB has been the subject of several recent analyst reports. ValuEngine raised M&T Bank from a “sell” rating to a “hold” rating in a report on Saturday, January 18th. Goldman Sachs Group downgraded M&T Bank from a “buy” rating to a “neutral” rating and increased their price objective for the company from $169.00 to $184.00 in a report on Monday, January 6th. Barclays cut their price objective on M&T Bank from $206.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Wedbush increased their price objective on M&T Bank from $169.00 to $174.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Finally, Odeon Capital Group raised M&T Bank from a “hold” rating to a “buy” rating in a report on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $172.80.

M&T Bank stock traded down $0.81 during mid-day trading on Friday, hitting $169.78. 387,258 shares of the company’s stock traded hands, compared to its average volume of 643,770. The firm has a 50 day simple moving average of $168.16 and a two-hundred day simple moving average of $160.56. M&T Bank Co. has a fifty-two week low of $141.50 and a fifty-two week high of $176.11. The stock has a market cap of $22.51 billion, a price-to-earnings ratio of 12.34, a P/E/G ratio of 2.04 and a beta of 1.08. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.02 and a quick ratio of 1.06.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.13. M&T Bank had a return on equity of 13.37% and a net margin of 27.79%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the firm posted $3.79 EPS. On average, research analysts anticipate that M&T Bank Co. will post 14 earnings per share for the current fiscal 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 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: How Do You Calculate Return on Equity (ROE)?

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

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