M&T Bank Co. (MTB) Position Raised by Whittier Trust Co.
Whittier Trust Co. increased its position in shares of M&T Bank Co. (NYSE:MTB) by 5.7% in the 4th quarter, Holdings Channel reports. The firm owned 60,475 shares of the financial services provider’s stock after acquiring an additional 3,267 shares during the quarter. Whittier Trust Co.’s holdings in M&T Bank were worth $10,340,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in MTB. Shelton Capital Management purchased a new position in M&T Bank during the fourth quarter worth about $202,000. ING Groep NV purchased a new position in M&T Bank during the fourth quarter worth about $1,819,000. BT Investment Management Ltd purchased a new position in M&T Bank during the fourth quarter worth about $5,293,000. Crossmark Global Holdings Inc. boosted its stake in M&T Bank by 3.6% during the fourth quarter. Crossmark Global Holdings Inc. now owns 11,891 shares of the financial services provider’s stock worth $2,033,000 after buying an additional 417 shares during the period. Finally, Columbia Asset Management boosted its stake in M&T Bank by 88.2% during the fourth quarter. Columbia Asset Management now owns 2,475 shares of the financial services provider’s stock worth $423,000 after buying an additional 1,160 shares during the period. Hedge funds and other institutional investors own 77.70% of the company’s stock.
Several brokerages have weighed in on MTB. Nomura increased their target price on shares of M&T Bank from $145.00 to $162.00 and gave the stock a “neutral” rating in a research note on Monday, October 23rd. Jefferies Group reaffirmed a “buy” rating and set a $201.00 target price on shares of M&T Bank in a research note on Monday, January 8th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of M&T Bank in a research note on Tuesday, February 6th. Wedbush reaffirmed a “neutral” rating and set a $186.00 target price (up previously from $180.00) on shares of M&T Bank in a research note on Tuesday, February 6th. Finally, Vining Sparks reaffirmed a “buy” rating and set a $200.00 target price on shares of M&T Bank in a research note on Monday, January 8th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $176.12.
M&T Bank Co. (NYSE MTB) opened at $182.62 on Friday. The company has a quick ratio of 1.05, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. M&T Bank Co. has a 12 month low of $141.12 and a 12 month high of $193.85. The company has a market cap of $27,487.05, a P/E ratio of 21.01, a PEG ratio of 1.17 and a beta of 0.91.
M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Thursday, January 18th. The financial services provider reported $2.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.40 by $0.26. M&T Bank had a net margin of 23.40% and a return on equity of 10.12%. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter last year, the firm posted $1.98 earnings per share. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. sell-side analysts expect that M&T Bank Co. will post 12.14 EPS for the current year.
M&T Bank announced that its Board of Directors has authorized a stock buyback plan on Monday, February 5th that permits the company to repurchase $745.00 million in outstanding shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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About M&T Bank
M&T Bank Corporation (M&T) is a bank holding company. As of December 31, 2016, M&T had two bank subsidiaries: Manufacturers and Traders Trust Company (M&T Bank) and Wilmington Trust, National Association (Wilmington Trust, N.A.). The Company, along with its subsidiaries, offers a range of retail and commercial banking, trust and wealth management, and investment services.
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