M&T Bank Corporation $MTB Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its stake in M&T Bank Corporation (NYSE:MTB) by 40.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,112 shares of the financial services provider’s stock after selling 13,046 shares during the period. Handelsbanken Fonder AB’s holdings in M&T Bank were worth $4,549,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bogart Wealth LLC boosted its position in shares of M&T Bank by 233.3% in the 1st quarter. Bogart Wealth LLC now owns 120 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 84 shares during the period. Triumph Capital Management acquired a new position in M&T Bank during the third quarter worth approximately $32,000. Elyxium Wealth LLC acquired a new position in M&T Bank during the fourth quarter worth approximately $33,000. Bank of Jackson Hole Trust lifted its stake in M&T Bank by 38.7% in 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. Finally, FNY Investment Advisers LLC purchased a new stake in M&T Bank in the second quarter valued at approximately $51,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Stock Performance

Shares of MTB opened at $254.16 on Friday. The stock has a market capitalization of $36.71 billion, a P/E ratio of 13.42, a P/E/G ratio of 1.17 and a beta of 0.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.96 and a current ratio of 0.96. M&T Bank Corporation has a 1 year low of $174.76 and a 1 year high of $255.68. The company’s fifty day moving average is $241.26 and its two-hundred day moving average is $224.60.

M&T Bank (NYSE:MTB) last issued its earnings results 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. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. The business had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the previous year, the firm earned $4.28 earnings per share. On average, sell-side analysts predict that M&T Bank Corporation will post 19.42 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MTB shares. Argus raised their target price on shares of M&T Bank from $230.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Wall Street Zen upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. JPMorgan Chase & Co. increased their price target on shares of M&T Bank from $251.50 to $265.50 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Truist Financial lifted their price objective on shares of M&T Bank from $230.00 to $268.00 and gave the company a “hold” rating in a research note on Tuesday, July 21st. Finally, Morgan Stanley upped their target price on shares of M&T Bank from $245.00 to $253.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $252.28.

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.