Inscription Capital LLC Takes Position in M&T Bank Co. (NYSE:MTB)

Inscription Capital LLC acquired a new stake in M&T Bank Co. (NYSE:MTB) in the 2nd quarter, HoldingsChannel reports. The fund acquired 2,998 shares of the financial services provider’s stock, valued at approximately $436,000.

Other hedge funds also recently modified their holdings of the company. Select Equity Group L.P. acquired a new position in M&T Bank in the 1st quarter worth about $154,892,000. Amundi Asset Management US Inc. raised its holdings in M&T Bank by 131.8% in the 1st quarter. Amundi Asset Management US Inc. now owns 1,189,344 shares of the financial services provider’s stock worth $180,318,000 after purchasing an additional 676,212 shares during the period. JPMorgan Chase & Co. raised its holdings in M&T Bank by 11.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,709,328 shares of the financial services provider’s stock worth $684,313,000 after purchasing an additional 472,226 shares during the period. Marathon Asset Management LLP raised its holdings in M&T Bank by 58.9% in the 2nd quarter. Marathon Asset Management LLP now owns 517,897 shares of the financial services provider’s stock worth $75,256,000 after purchasing an additional 191,962 shares during the period. Finally, BlackRock Inc. raised its holdings in M&T Bank by 1.7% in the 2nd quarter. BlackRock Inc. now owns 10,331,915 shares of the financial services provider’s stock worth $1,501,332,000 after purchasing an additional 176,927 shares during the period. 85.09% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently weighed in on MTB. Keefe, Bruyette & Woods raised M&T Bank from a “market perform” rating to an “outperform” rating in a report on Wednesday, July 7th. Jefferies Financial Group boosted their price objective on M&T Bank from $145.00 to $172.00 and gave the stock a “hold” rating in a research note on Monday. Zacks Investment Research lowered M&T Bank from a “buy” rating to a “hold” rating and set a $162.00 price objective for the company. in a research note on Thursday, September 30th. Wells Fargo & Company cut their price objective on M&T Bank from $168.00 to $155.00 and set an “equal weight” rating for the company in a research note on Thursday, July 22nd. Finally, Wedbush cut their price objective on M&T Bank from $171.00 to $158.00 and set a “neutral” rating for the company in a research note on Thursday, July 22nd. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, M&T Bank presently has an average rating of “Hold” and an average target price of $159.99.

Shares of M&T Bank stock opened at $149.23 on Thursday. The firm has a market capitalization of $19.20 billion, a price-to-earnings ratio of 11.47 and a beta of 1.20. M&T Bank Co. has a fifty-two week low of $94.67 and a fifty-two week high of $168.27. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a 50 day moving average of $141.84 and a 200 day moving average of $147.81.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Tuesday, July 20th. The financial services provider reported $3.41 earnings per share for the quarter, missing the consensus estimate of $3.70 by ($0.29). The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.49 billion. M&T Bank had a return on equity of 11.70% and a net margin of 28.58%. During the same quarter in the previous year, the company posted $1.76 earnings per share. Analysts forecast that M&T Bank Co. will post 13.5 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 30th. Investors of record on Wednesday, September 1st were given a $1.10 dividend. The ex-dividend date was Tuesday, August 31st. This represents a $4.40 annualized dividend and a yield of 2.95%. M&T Bank’s payout ratio is 43.91%.

About M&T Bank

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 following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.

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

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