Nexus Investment Management buys $15,823,620 stake in M&T Bank Corporation (MTB)

M&T Bank Corporation (MTB) : Nexus Investment Management scooped up 320 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 Oct 12, 2016. The investment management firm now holds a total of 136,340 shares of M&T Bank Corporation which is valued at $15,823,620.M&T Bank Corporation makes up approximately 2.93% of Nexus Investment Management’s portfolio.

Other Hedge Funds, Including , Lgt Capital Partners Ltd. boosted its stake in MTB in the latest quarter, The investment management firm added 11,400 additional shares and now holds a total of 134,720 shares of M&T Bank Corporation which is valued at $15,882,141. M&T Bank Corporation makes up approx 2.24% of Lgt Capital Partners Ltd.’s portfolio.First United Bank Trust boosted its stake in MTB in the latest quarter, The investment management firm added 1,376 additional shares and now holds a total of 5,810 shares of M&T Bank Corporation which is valued at $684,941. M&T Bank Corporation makes up approx 0.57% of First United Bank Trust’s portfolio. Washington Trust Bank added MTB to its portfolio by purchasing 11 company shares during the most recent quarter which is valued at $1,299. Eqis Capital Management added MTB to its portfolio by purchasing 2,049 company shares during the most recent quarter which is valued at $241,905. M&T Bank Corporation makes up approx 0.02% of Eqis Capital Management’s portfolio.

M&T Bank Corporation closed down -1.83 points or -1.55% at $116.06 with 10,10,263 shares getting traded on Tuesday. Post opening the session at $117.83, the shares hit an intraday low of $115.68 and an intraday high of $118.22 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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. Wedbush Initiated M&T Bank Corporation on Oct 7, 2016 to “Neutral”, Price Target of the shares are set at $117.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 .

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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