Pacer Advisors Inc. Has $1.57 Million Stake in M&T Bank Corporation $MTB

Pacer Advisors Inc. lowered its position in shares of M&T Bank Corporation (NYSE:MTB) by 50.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,585 shares of the financial services provider’s stock after selling 7,792 shares during the period. Pacer Advisors Inc.’s holdings in M&T Bank were worth $1,568,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Bogart Wealth LLC grew its holdings in shares of M&T Bank by 233.3% during the first quarter. Bogart Wealth LLC now owns 120 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 84 shares during the last quarter. Triumph Capital Management bought a new position in M&T Bank in the 3rd quarter valued at approximately $32,000. Elyxium Wealth LLC acquired a new stake in M&T Bank during the 4th quarter worth approximately $33,000. Bank of Jackson Hole Trust grew its holdings in M&T Bank by 38.7% during the 4th quarter. Bank of Jackson Hole Trust now owns 215 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 60 shares during the last quarter. Finally, Rossby Financial LCC increased its position in M&T Bank by 146.0% in the 4th quarter. Rossby Financial LCC now owns 278 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 165 shares during the period. 84.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MTB has been the topic of a number of recent research reports. Argus lifted their price target on shares of M&T Bank from $230.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Wall Street Zen raised M&T Bank from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. Barclays lifted their target price on M&T Bank from $236.00 to $267.00 and gave the stock an “equal weight” rating in a report on Thursday, July 16th. Morgan Stanley increased their price target 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. Finally, Deutsche Bank Aktiengesellschaft downgraded M&T Bank from a “buy” rating to a “hold” rating and set a $250.00 price objective for the company. in a research report on Thursday, July 23rd. Seven analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $252.28.

M&T Bank Stock Performance

MTB stock opened at $250.12 on Friday. The firm has a market cap of $36.12 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 1.16 and a beta of 0.57. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.53. The stock has a 50-day moving average price of $237.74 and a 200-day moving average price of $223.27. M&T Bank Corporation has a 1-year low of $174.76 and a 1-year high of $255.00.

M&T Bank (NYSE:MTB) last announced its earnings results on Wednesday, July 15th. The financial services provider reported $5.35 EPS for the quarter, beating the consensus estimate of $4.66 by $0.69. The company had revenue of $2.53 billion for 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 quarter in the prior year, the company earned $4.28 EPS. As a group, equities research analysts expect that M&T Bank Corporation will post 19.42 earnings per share for the current year.

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.