M&T Bank Corporation $MTB Shares Sold by Entropy Technologies LP

Entropy Technologies LP lowered its position in shares of M&T Bank Corporation (NYSE:MTB) by 58.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,779 shares of the financial services provider’s stock after selling 28,239 shares during the period. Entropy Technologies LP’s holdings in M&T Bank were worth $4,089,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Canoe Financial LP grew its stake in M&T Bank by 50.5% during the 4th quarter. Canoe Financial LP now owns 652,744 shares of the financial services provider’s stock worth $131,515,000 after buying an additional 219,065 shares during the last quarter. Miller Howard Investments Inc. NY acquired a new stake in shares of M&T Bank in the fourth quarter valued at approximately $42,817,000. Danske Bank A S acquired a new stake in shares of M&T Bank in the third quarter valued at approximately $29,612,000. Russell Investments Group Ltd. grew its position in shares of M&T Bank by 35.4% during the fourth quarter. Russell Investments Group Ltd. now owns 396,531 shares of the financial services provider’s stock worth $79,954,000 after acquiring an additional 103,692 shares during the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich grew its position in shares of M&T Bank by 37.1% during the fourth quarter. Munich Reinsurance Co Stock Corp in Munich now owns 351,076 shares of the financial services provider’s stock worth $71,462,000 after acquiring an additional 95,025 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Christopher E. Kay sold 3,105 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $216.50, for a total transaction of $672,232.50. Following the sale, the executive vice president owned 6,753 shares of the company’s stock, valued at $1,462,024.50. The trade was a 31.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MTB shares. Robert W. Baird upped their target price on shares of M&T Bank from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Argus boosted their target price on M&T Bank from $230.00 to $245.00 and gave the company a “buy” rating in a report on Friday, April 17th. The Goldman Sachs Group upped their price target on M&T Bank from $231.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, April 6th. Keefe, Bruyette & Woods increased their price target on M&T Bank from $242.00 to $250.00 and gave the stock a “market perform” rating in a report on Thursday, July 16th. Finally, Piper Sandler lifted their price objective on shares of M&T Bank from $235.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Seven research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, M&T Bank presently has a consensus rating of “Hold” and an average price target of $251.43.

M&T Bank Stock Performance

Shares of MTB opened at $249.36 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.89 and a debt-to-equity ratio of 0.53. M&T Bank Corporation has a 52-week low of $174.76 and a 52-week high of $255.00. The company has a 50-day simple moving average of $230.22 and a 200-day simple moving average of $220.56. The company has a market capitalization of $36.52 billion, a PE ratio of 13.17, a P/E/G ratio of 1.16 and a beta of 0.57.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $5.35 EPS for the quarter, topping analysts’ consensus estimates 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 firm 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. Equities research analysts predict that M&T Bank Corporation will post 19.42 earnings per share for the current fiscal year.

M&T Bank announced that its board has authorized a stock buyback plan on Tuesday, March 31st that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 16.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

M&T Bank Company Profile

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.