M&T Bank Corporation $MTB Shares Sold by Entropy Technologies LP

Entropy Technologies LP reduced its holdings in shares of M&T Bank Corporation (NYSE:MTB) by 58.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 19,779 shares of the financial services provider’s stock after selling 28,239 shares during the period. Entropy Technologies LP’s holdings in M&T Bank were worth $4,089,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MTB. Canoe Financial LP raised its holdings in shares of M&T Bank by 50.5% in the fourth quarter. Canoe Financial LP now owns 652,744 shares of the financial services provider’s stock worth $131,515,000 after acquiring an additional 219,065 shares during the last quarter. Miller Howard Investments Inc. NY acquired a new position in M&T Bank in the 4th quarter valued at about $42,817,000. Danske Bank A S acquired a new position in M&T Bank in the 3rd quarter valued at about $29,612,000. Russell Investments Group Ltd. lifted its holdings in M&T Bank by 35.4% in the 4th quarter. Russell Investments Group Ltd. now owns 396,531 shares of the financial services provider’s stock valued at $79,954,000 after purchasing an additional 103,692 shares in the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich lifted its holdings in M&T Bank by 37.1% in the 4th quarter. Munich Reinsurance Co Stock Corp in Munich now owns 351,076 shares of the financial services provider’s stock valued at $71,462,000 after purchasing an additional 95,025 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Stock Performance

M&T Bank stock opened at $249.36 on Friday. The stock’s 50-day moving average is $230.22 and its 200-day moving average is $220.56. The company has a market cap of $36.52 billion, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 1.16 and a beta of 0.57. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.89 and a quick ratio of 0.94. M&T Bank Corporation has a 12 month low of $174.76 and a 12 month high of $255.00.

M&T Bank (NYSE:MTB) last released its quarterly earnings data 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. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.46 billion. M&T Bank had a return on equity of 11.80% and a net margin of 22.72%.During the same period in the previous year, the company posted $4.28 EPS. Equities analysts anticipate that M&T Bank Corporation will post 19.42 earnings per share for the current year.

M&T Bank declared that its board has authorized a stock buyback plan on Tuesday, March 31st that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 16.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

MTB has been the topic of several analyst reports. Robert W. Baird raised 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. Deutsche Bank Aktiengesellschaft lowered M&T Bank from a “buy” rating to a “hold” rating and set a $250.00 target price for the company. in a research note on Thursday. Royal Bank Of Canada increased their target price on M&T Bank from $230.00 to $255.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. The Goldman Sachs Group lifted their price target on M&T Bank from $231.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, April 6th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of M&T Bank in a research note on Thursday, June 4th. Seven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, M&T Bank presently has an average rating of “Hold” and an average price target of $251.43.

Insiders Place Their Bets

In other M&T Bank news, EVP Christopher E. Kay sold 3,105 shares of M&T Bank stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $216.50, for a total transaction of $672,232.50. Following the transaction, the executive vice president directly owned 6,753 shares of the company’s stock, valued at $1,462,024.50. The trade was a 31.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.44% of the stock is currently owned by company insiders.

About M&T Bank

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.