Reinhart Partners LLC. Sells 7,131 Shares of M&T Bank Corporation $MTB

Reinhart Partners LLC. lowered its stake in M&T Bank Corporation (NYSE:MTB) by 29.7% during the second quarter, Holdings Channel.com reports. The fund owned 16,908 shares of the financial services provider’s stock after selling 7,131 shares during the period. Reinhart Partners LLC.’s holdings in M&T Bank were worth $4,024,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of MTB. Bogart Wealth LLC boosted its position in M&T Bank by 233.3% during the first quarter. Bogart Wealth LLC now owns 120 shares of the financial services provider’s stock valued at $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 third quarter valued at approximately $32,000. Elyxium Wealth LLC acquired a new position in shares of M&T Bank during the 4th quarter worth approximately $33,000. Bank of Jackson Hole Trust raised its stake in shares of 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 purchasing an additional 60 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in shares of M&T Bank in the 2nd quarter valued at approximately $51,000. Institutional investors own 84.68% of the company’s stock.

M&T Bank Trading Down 0.0%

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

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share 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 net margin of 22.72% and a return on equity of 11.80%. During the same period in the prior year, the firm earned $4.28 earnings per share. Equities analysts anticipate that M&T Bank Corporation will post 19.42 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MTB shares. Truist Financial upped their price target on shares of M&T Bank from $230.00 to $268.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. Jefferies Financial Group restated a “buy” rating and set a $300.00 price objective on shares of M&T Bank in a research note on Wednesday, July 15th. Barclays upped their target price on shares of M&T Bank from $236.00 to $267.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Wall Street Zen upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Monday, July 20th. Finally, Cantor Fitzgerald boosted their price target on M&T Bank from $253.00 to $262.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Seven research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $252.28.

About M&T Bank

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.