Trust Co. of Vermont Invests $5.26 Million in M&T Bank Corporation $MTB

Trust Co. of Vermont purchased a new stake in shares of M&T Bank Corporation (NYSE:MTB) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 22,092 shares of the financial services provider’s stock, valued at approximately $5,258,000.

Several other hedge funds have also made changes to their positions in the company. LSV Asset Management raised its stake in M&T Bank by 14.5% during the 4th quarter. LSV Asset Management now owns 391,900 shares of the financial services provider’s stock valued at $78,960,000 after purchasing an additional 49,500 shares during the period. Adams Diversified Equity Fund Inc. boosted its position in shares of M&T Bank by 22.8% in the first quarter. Adams Diversified Equity Fund Inc. now owns 119,900 shares of the financial services provider’s stock worth $24,786,000 after buying an additional 22,300 shares during the period. Allstate Corp boosted its position in shares of M&T Bank by 99.4% in the fourth quarter. Allstate Corp now owns 11,242 shares of the financial services provider’s stock worth $2,265,000 after buying an additional 5,604 shares during the period. SG Americas Securities LLC grew its holdings in shares of M&T Bank by 34.8% during the first quarter. SG Americas Securities LLC now owns 85,770 shares of the financial services provider’s stock valued at $17,730,000 after buying an additional 22,132 shares in the last quarter. Finally, Entropy Technologies LP grew its holdings in shares of M&T Bank by 107.6% during the fourth quarter. Entropy Technologies LP now owns 48,018 shares of the financial services provider’s stock valued at $9,675,000 after buying an additional 24,887 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on MTB. Morgan Stanley lifted their target price on M&T Bank from $245.00 to $253.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Wells Fargo & Company increased their price target on shares of M&T Bank from $215.00 to $224.00 and gave the stock an “underweight” rating in a research report on Thursday, July 16th. Wall Street Zen upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Monday, July 20th. UBS Group boosted their price objective on shares of M&T Bank from $252.00 to $255.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Finally, Royal Bank Of Canada increased their target price on shares of M&T Bank from $230.00 to $255.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Seven analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $252.28.

M&T Bank Stock Performance

Shares of MTB stock opened at $252.68 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.96 and a quick ratio of 0.96. M&T Bank Corporation has a fifty-two week low of $174.76 and a fifty-two week high of $255.95. The stock’s 50-day moving average is $241.85 and its two-hundred day moving average is $224.92. The firm has a market cap of $36.49 billion, a P/E ratio of 13.34, a PEG ratio of 1.18 and a beta of 0.57.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.66 by $0.69. The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.46 billion. M&T Bank had a return on equity of 11.80% and a net margin of 22.72%.During the same period in the previous year, the company earned $4.28 EPS. Analysts predict that M&T Bank Corporation will post 19.42 earnings per share for the current fiscal year.

M&T Bank 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.