Nexus Investment Management buys $15,770,159 stake in M&T Bank Corporation (MTB)

M&T Bank Corporation (MTB) : Nexus Investment Management scooped up 2,100 additional shares in M&T Bank Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 6, 2016. The investment management firm now holds a total of 136,020 shares of M&T Bank Corporation which is valued at $15,770,159.M&T Bank Corporation makes up approximately 2.96% of Nexus Investment Management’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa reduced its stake in MTB by selling 18,814 shares or 33.46% in the most recent quarter. The Hedge Fund company now holds 37,411 shares of MTB which is valued at $4,337,431. M&T Bank Corporation makes up approx 0.02% of Bnp Paribas Arbitrage Sa’s portfolio.

M&T Bank Corporation opened for trading at $116.77 and hit $117.07 on the upside on Monday, eventually ending the session at $116.53, with a gain of 0.51% or 0.59 points. The heightened volatility saw the trading volume jump to 5,76,775 shares. Company has a market cap of $18,528 M.

On the company’s financial health, M&T Bank Corporation reported $1.87 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Apr 18, 2016. Analyst had a consensus of $1.89.Analysts expectations of $ 1294.03.During the same quarter in the previous year, the company posted $1.65 EPS.

Many Wall Street Analysts have commented on M&T Bank Corporation. Shares were Downgraded by Nomura on Jul 7, 2016 to ” Neutral” and Lowered the Price Target to $ 103 from a previous price target of $131 .M&T Bank Corporation was Resumed by Piper Jaffray to “Neutral” on Jul 5, 2016. Shares were Downgraded by Robert W. Baird on Apr 21, 2016 to ” Underperform” and Lowered the Price Target to $ 115 from a previous price target of $125 .

M&T Bank Corporation (M&T) is a bank holding company for M&T Bank and Wilmington Trust National Association (Wilmington Trust N.A.). The Company’s segments include Business Banking Commercial Banking Commercial Real Estate Discretionary Portfolio Residential Mortgage Banking and Retail Banking. The Business Banking segment provides deposit lending cash management and other financial services. The Commercial Banking segment offers credit products and banking services for middle-market and commercial customers. Its Commercial Real Estate segment provides credit and deposit services. The Discretionary Portfolio segment includes investment and trading securities loans and other assets and borrowed funds. The Residential Mortgage Banking segment originates and services residential mortgage loans. The Retail Banking segment offers a range of services to consumers through delivery channels. It operates over 800 retail and commercial branches and 1600 automated teller machines.

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