Russell Investments Group Ltd. Increases Stake in M&T Bank Co. (MTB)

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Russell Investments Group Ltd. boosted its holdings in M&T Bank Co. (NYSE:MTB) by 24.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 219,540 shares of the financial services provider’s stock after buying an additional 42,833 shares during the period. Russell Investments Group Ltd. owned approximately 0.15% of M&T Bank worth $36,163,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Robeco Institutional Asset Management B.V. lifted its holdings in M&T Bank by 120.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 56,013 shares of the financial services provider’s stock valued at $9,216,000 after buying an additional 30,548 shares during the period. Creative Planning lifted its holdings in M&T Bank by 24.4% in the third quarter. Creative Planning now owns 5,282 shares of the financial services provider’s stock valued at $869,000 after buying an additional 1,036 shares during the period. First Trust Advisors LP lifted its holdings in M&T Bank by 136.7% in the third quarter. First Trust Advisors LP now owns 354,494 shares of the financial services provider’s stock valued at $58,328,000 after buying an additional 204,745 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in M&T Bank by 5.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 468,781 shares of the financial services provider’s stock valued at $77,134,000 after buying an additional 25,796 shares during the period. Finally, Confluence Investment Management LLC lifted its holdings in M&T Bank by 4.1% in the third quarter. Confluence Investment Management LLC now owns 106,411 shares of the financial services provider’s stock valued at $17,509,000 after buying an additional 4,145 shares during the period. Institutional investors and hedge funds own 80.67% of the company’s stock.

MTB opened at $165.41 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $23.47 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 1.03 and a beta of 0.94. M&T Bank Co. has a twelve month low of $154.33 and a twelve month high of $197.37.

M&T Bank (NYSE:MTB) last posted its earnings results on Wednesday, October 17th. The financial services provider reported $3.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.35 by $0.18. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. M&T Bank had a net margin of 26.84% and a return on equity of 13.15%. During the same period last year, the business posted $2.21 earnings per share. Research analysts predict that M&T Bank Co. will post 13.04 earnings per share for the current year.

Several equities analysts recently weighed in on MTB shares. Keefe, Bruyette & Woods upgraded shares of M&T Bank from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a report on Monday, September 3rd. Goldman Sachs Group upgraded shares of M&T Bank from a “neutral” rating to a “buy” rating in a report on Wednesday, September 26th. Zacks Investment Research lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a report on Thursday, October 4th. Evercore ISI upgraded shares of M&T Bank from an “in-line” rating to an “outperform” rating in a report on Monday, October 1st. They noted that the move was a valuation call. Finally, ValuEngine lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. M&T Bank has a consensus rating of “Hold” and a consensus target price of $184.36.

In other M&T Bank news, Director Denis J. Salamone sold 25,209 shares of the stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $179.76, for a total value of $4,531,569.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.48% of the company’s stock.

About M&T Bank

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide retail and commercial banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals.

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Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

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