Commerzbank Aktiengesellschaft FI Acquires Shares of 7,616 M&T Bank Corporation $MTB

Commerzbank Aktiengesellschaft FI acquired a new position in M&T Bank Corporation (NYSE:MTB) in the second quarter, HoldingsChannel.com reports. The fund acquired 7,616 shares of the financial services provider’s stock, valued at approximately $1,813,000.

Other hedge funds have also modified their holdings of the company. Trust Co. of Vermont purchased a new position in shares of M&T Bank in the 2nd quarter valued at about $5,258,000. Plato Investment Management Ltd acquired a new position in M&T Bank in the 2nd quarter worth about $1,349,000. Bank of New York Mellon Corp purchased a new position in M&T Bank during the second quarter worth approximately $330,978,000. FNY Investment Advisers LLC purchased a new position in M&T Bank during the second quarter worth approximately $51,000. Finally, First Citizens Financial Corp grew its holdings in M&T Bank by 15.6% in the second quarter. First Citizens Financial Corp now owns 1,233 shares of the financial services provider’s stock valued at $293,000 after purchasing an additional 166 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MTB shares. Deutsche Bank Aktiengesellschaft cut M&T Bank from a “buy” rating to a “hold” rating and set a $250.00 price objective for the company. in a research report on Thursday, July 23rd. Robert W. Baird increased their target price on M&T Bank from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Wells Fargo & Company lifted their price target on shares of M&T Bank from $215.00 to $224.00 and gave the company an “underweight” rating in a research note on Thursday, July 16th. Barclays boosted their price target on shares of M&T Bank from $236.00 to $267.00 and gave the stock an “equal weight” rating in a report on Thursday, July 16th. Finally, Cantor Fitzgerald upped their price objective on shares of M&T Bank from $253.00 to $262.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Seven analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $252.28.

M&T Bank Stock Performance

NYSE MTB opened at $252.68 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.96 and a quick ratio of 0.96. The stock’s 50 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 PE ratio of 13.34, a price-to-earnings-growth ratio of 1.18 and a beta of 0.57. 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 issued its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $5.35 EPS for the quarter, topping the consensus estimate of $4.66 by $0.69. M&T Bank had a return on equity of 11.80% and a net margin of 22.72%.The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same period in the previous year, the business earned $4.28 earnings per share. As a group, equities research analysts anticipate that M&T Bank Corporation will post 19.42 EPS for the current fiscal 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.