Trust Co. of Vermont Makes New Investment in M&T Bank Corporation $MTB

Trust Co. of Vermont bought a new stake in shares of M&T Bank Corporation (NYSE:MTB) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 22,092 shares of the financial services provider’s stock, valued at approximately $5,258,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Bank of New York Mellon Corp bought a new stake in shares of M&T Bank during the 2nd quarter worth about $330,978,000. Miller Howard Investments Inc. NY bought a new position in shares of M&T Bank in the 4th quarter valued at approximately $42,817,000. Danske Bank A S bought a new position in shares of M&T Bank in the 3rd quarter valued at approximately $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 worth $79,954,000 after purchasing an additional 103,692 shares during 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 worth $71,462,000 after purchasing an additional 95,025 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analyst Ratings Changes

MTB has been the topic of several analyst reports. Jefferies Financial Group reiterated a “buy” rating and set a $300.00 price target on shares of M&T Bank in a report on Wednesday, July 15th. Truist Financial boosted their price objective on shares of M&T Bank from $230.00 to $268.00 and gave the stock a “hold” rating in a research note on Tuesday, July 21st. UBS Group upped their price objective on shares of M&T Bank from $252.00 to $255.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft lowered shares of M&T Bank from a “buy” rating to a “hold” rating and set a $250.00 target price on the stock. in a research note on Thursday, July 23rd. Finally, Barclays boosted their target price on shares of M&T Bank from $236.00 to $267.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. Seven 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. Based on data from MarketBeat, M&T Bank has an average rating of “Hold” and an average price target of $252.28.

M&T Bank Trading Down 0.6%

Shares of M&T Bank stock opened at $252.68 on Tuesday. The company’s fifty day simple moving average is $241.85 and its 200-day simple moving average is $224.92. The company has a market cap of $36.49 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 1.18 and a beta of 0.57. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.53. M&T Bank Corporation has a 1 year low of $174.76 and a 1 year high of $255.95.

M&T Bank (NYSE:MTB) last announced its earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 22.72% and a return on equity of 11.80%. During the same quarter in the previous year, the firm posted $4.28 earnings per share. As a group, sell-side analysts expect that M&T Bank Corporation will post 19.42 EPS for the current year.

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.