SVB Wealth LLC Buys Shares of 3,110 M&T Bank Co. (NYSE:MTB)

SVB Wealth LLC bought a new stake in M&T Bank Co. (NYSE:MTB – Get Rating) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,110 shares of the financial services provider’s stock, valued at approximately $548,000.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of M&T Bank by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 14,607,431 shares of the financial services provider’s stock valued at $2,475,959,000 after purchasing an additional 316,266 shares during the period. State Street Corp raised its stake in shares of M&T Bank by 20.4% during the 2nd quarter. State Street Corp now owns 8,629,986 shares of the financial services provider’s stock valued at $1,375,533,000 after purchasing an additional 1,460,870 shares during the period. FMR LLC raised its stake in shares of M&T Bank by 0.9% during the 2nd quarter. FMR LLC now owns 8,101,997 shares of the financial services provider’s stock valued at $1,291,378,000 after purchasing an additional 70,753 shares during the period. JPMorgan Chase & Co. raised its stake in shares of M&T Bank by 15.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,364,209 shares of the financial services provider’s stock valued at $855,000,000 after purchasing an additional 705,857 shares during the period. Finally, Wells Fargo & Company MN raised its stake in shares of M&T Bank by 90.1% during the 2nd quarter. Wells Fargo & Company MN now owns 3,012,996 shares of the financial services provider’s stock valued at $480,241,000 after purchasing an additional 1,428,141 shares during the period. 84.10% of the stock is currently owned by institutional investors.

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M&T Bank Price Performance

Shares of M&T Bank stock opened at $160.62 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.96 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $27.73 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 0.80 and a beta of 0.81. The business’s 50-day moving average price is $150.23 and its 200-day moving average price is $167.74. M&T Bank Co. has a 12 month low of $138.43 and a 12 month high of $193.42.

M&T Bank (NYSE:MTB – Get Rating) last announced its quarterly earnings data on Thursday, January 19th. The financial services provider reported $4.29 EPS for the quarter, missing the consensus estimate of $4.50 by ($0.21). M&T Bank had a net margin of 23.15% and a return on equity of 11.41%. During the same period in the prior year, the business earned $3.37 EPS. Sell-side analysts forecast that M&T Bank Co. will post 18.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MTB shares. Keefe, Bruyette & Woods lowered M&T Bank from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $215.00 to $180.00 in a research note on Tuesday, December 6th. Deutsche Bank Aktiengesellschaft decreased their price objective on M&T Bank from $255.00 to $175.00 in a research note on Friday, January 6th. DA Davidson began coverage on M&T Bank in a research note on Wednesday, December 21st. They set a “neutral” rating and a $160.00 price objective on the stock. JPMorgan Chase & Co. upped their target price on M&T Bank from $153.00 to $160.00 and gave the stock a “neutral” rating in a research note on Monday, January 23rd. Finally, Morgan Stanley decreased their target price on M&T Bank from $225.00 to $212.00 and set an “overweight” rating on the stock in a research note on Monday, January 23rd. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, M&T Bank has a consensus rating of “Hold” and a consensus target price of $182.32.

About M&T Bank

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M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management and investment services. It operates through the following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.

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