Zurcher Kantonalbank Zurich Cantonalbank Lowers Stock Holdings in M&T Bank Co. (NYSE:MTB)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in M&T Bank Co. (NYSE:MTB) by 66.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,998 shares of the financial services provider’s stock after selling 47,865 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in M&T Bank were worth $4,081,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Domani Wealth LLC purchased a new position in M&T Bank in the first quarter valued at $217,000. USS Investment Management Ltd purchased a new position in M&T Bank in the second quarter valued at $10,846,000. Dupont Capital Management Corp boosted its holdings in M&T Bank by 130.2% in the first quarter. Dupont Capital Management Corp now owns 4,080 shares of the financial services provider’s stock valued at $641,000 after purchasing an additional 2,308 shares during the period. FSI Group LLC purchased a new position in M&T Bank in the first quarter valued at $3,947,000. Finally, National Asset Management Inc. boosted its holdings in M&T Bank by 21.9% in the first quarter. National Asset Management Inc. now owns 2,503 shares of the financial services provider’s stock valued at $394,000 after purchasing an additional 450 shares during the period. Hedge funds and other institutional investors own 81.41% of the company’s stock.

MTB has been the subject of a number of recent research reports. Citigroup set a $155.00 target price on M&T Bank and gave the company a “sell” rating in a report on Friday, July 19th. Zacks Investment Research downgraded M&T Bank from a “buy” rating to a “hold” rating and set a $179.00 price target for the company. in a report on Monday, July 1st. Macquarie set a $158.00 price target on M&T Bank and gave the stock a “sell” rating in a report on Friday, July 19th. ValuEngine raised M&T Bank from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Wedbush lifted their price target on M&T Bank from $150.00 to $155.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $176.77.



In related news, EVP William J. Farrell II sold 3,070 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $163.82, for a total value of $502,927.40. Following the transaction, the executive vice president now owns 10,774 shares in the company, valued at approximately $1,764,996.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Doris P. Meister sold 460 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $160.29, for a total value of $73,733.40. Following the completion of the transaction, the insider now owns 1,553 shares in the company, valued at approximately $248,930.37. The disclosure for this sale can be found here. Insiders have sold 5,371 shares of company stock worth $876,652 in the last quarter. Insiders own 0.54% of the company’s stock.

NYSE MTB traded down $3.59 during trading on Wednesday, reaching $147.73. 8,156 shares of the company’s stock were exchanged, compared to its average volume of 786,207. The stock has a 50 day simple moving average of $164.73. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.06. M&T Bank Co. has a 1 year low of $133.78 and a 1 year high of $180.77. The firm has a market cap of $20.23 billion, a PE ratio of 11.57, a P/E/G ratio of 2.14 and a beta of 1.05.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, July 18th. The financial services provider reported $3.34 EPS for the quarter, missing the Zacks’ consensus estimate of $3.70 by ($0.36). M&T Bank had a return on equity of 14.26% and a net margin of 29.81%. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the firm posted $3.26 EPS. As a group, research analysts anticipate that M&T Bank Co. will post 13.89 earnings per share for the current fiscal year.

M&T Bank Profile

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.

Read More: Percentage Gainers

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

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