Pacer Advisors Inc. Sells 7,792 Shares of M&T Bank Corporation $MTB

Pacer Advisors Inc. lowered its stake in shares of M&T Bank Corporation (NYSE:MTB) by 50.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 7,585 shares of the financial services provider’s stock after selling 7,792 shares during the quarter. Pacer Advisors Inc.’s holdings in M&T Bank were worth $1,568,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Commonwealth Retirement Investments LLC increased its position in M&T Bank by 0.4% in the 4th quarter. Commonwealth Retirement Investments LLC now owns 10,991 shares of the financial services provider’s stock valued at $2,214,000 after buying an additional 44 shares in the last quarter. Wedbush Securities Inc. lifted its holdings in shares of M&T Bank by 2.4% in the fourth quarter. Wedbush Securities Inc. now owns 2,223 shares of the financial services provider’s stock valued at $448,000 after purchasing an additional 52 shares in the last quarter. Bank of Jackson Hole Trust boosted its position in shares of M&T Bank by 38.7% during the fourth quarter. Bank of Jackson Hole Trust now owns 215 shares of the financial services provider’s stock valued at $43,000 after buying an additional 60 shares during the last quarter. Thoroughbred Financial Services LLC grew its holdings in M&T Bank by 2.1% during the fourth quarter. Thoroughbred Financial Services LLC now owns 3,465 shares of the financial services provider’s stock worth $698,000 after buying an additional 70 shares in the last quarter. Finally, Plato Investment Management Ltd raised its position in M&T Bank by 0.9% in the 4th quarter. Plato Investment Management Ltd now owns 8,322 shares of the financial services provider’s stock valued at $1,685,000 after buying an additional 71 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on MTB shares. Cantor Fitzgerald lifted their price objective on shares of M&T Bank from $253.00 to $262.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. UBS Group raised their price target on shares of M&T Bank from $252.00 to $255.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Argus boosted their price target on shares of M&T Bank from $230.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Keefe, Bruyette & Woods upped their price objective on shares of M&T Bank from $242.00 to $250.00 and gave the stock a “market perform” rating in a research report on Thursday, July 16th. Finally, JPMorgan Chase & Co. upped their price objective on shares of M&T Bank from $251.50 to $265.50 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $252.28.

M&T Bank Stock Performance

NYSE MTB opened at $250.12 on Friday. M&T Bank Corporation has a 52-week low of $174.76 and a 52-week high of $255.00. The company has a 50-day simple moving average of $237.74 and a 200 day simple moving average of $223.27. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.94 and a current ratio of 0.96. The company has a market capitalization of $36.12 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 1.16 and a beta of 0.57.

M&T Bank (NYSE:MTB) last released its earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share for the quarter, beating analysts’ consensus estimates of $4.66 by $0.69. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same period in the previous year, the company earned $4.28 earnings per share. On average, research analysts predict that M&T Bank Corporation will post 19.42 EPS for the current 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.