Covington Investment Advisors buys $3,815,317 stake in M&T Bank Corporation (MTB)

M&T Bank Corporation (MTB) : Covington Investment Advisors scooped up 630 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 Aug 10, 2016. The investment management firm now holds a total of 32,803 shares of M&T Bank Corporation which is valued at $3,815,317.M&T Bank Corporation makes up approximately 1.65% of Covington Investment Advisors’s portfolio.

Other Hedge Funds, Including , Pinebridge Investments reduced its stake in MTB by selling 4,948 shares or 52.38% in the most recent quarter. The Hedge Fund company now holds 4,499 shares of MTB which is valued at $523,279. M&T Bank Corporation makes up approx 0.03% of Pinebridge Investments’s portfolio.Cadence Capital Management reduced its stake in MTB by selling 3,669 shares or 15.08% in the most recent quarter. The Hedge Fund company now holds 20,656 shares of MTB which is valued at $2,352,718. M&T Bank Corporation makes up approx 0.17% of Cadence Capital Management’s portfolio.Anchor Capital Advisors reduced its stake in MTB by selling 10,910 shares or 2.35% in the most recent quarter. The Hedge Fund company now holds 452,594 shares of MTB which is valued at $51,550,457. M&T Bank Corporation makes up approx 1.32% of Anchor Capital Advisors’s portfolio. Fox Run Management L.l.c. added MTB to its portfolio by purchasing 2,700 company shares during the most recent quarter which is valued at $307,287. M&T Bank Corporation makes up approx 0.14% of Fox Run Management L.l.c.’s portfolio.

M&T Bank Corporation closed down -0.24 points or -0.20% at $117.66 with 3,18,379 shares getting traded on Friday. Post opening the session at $117.68, the shares hit an intraday low of $116.98 and an intraday high of $117.76 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, M&T Bank Corporation reported $2.07 EPS for the quarter, based on the information available during the earnings call on Jul 20, 2016. Analyst had a consensus estimate of $2.07. The company had revenue of $1312.00 million for the quarter, compared to analysts expectations of $1319.82 million. The company’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.98 EPS.

Many Wall Street Analysts have commented on M&T Bank Corporation. Shares were Reiterated by FBR Capital on Jul 21, 2016 to “Mkt Perform” and Lowered the Price Target to $ 105 from a previous price target of $120 .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.

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.

Leave a Reply

M&T Bank Corporation - Is it time to Sell?

Top Brokerage Firms are advising their investors on M&T Bank Corporation. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.