Berkshire Asset Managementpa Lowers stake in M&T Bank Corporation (MTB)

M&T Bank Corporation (MTB) : Berkshire Asset Managementpa reduced its stake in M&T Bank Corporation by 5.19% during the most recent quarter end. The investment management company now holds a total of 115,389 shares of M&T Bank Corporation which is valued at $13,132,422 after selling 6,312 shares in M&T Bank Corporation , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.M&T Bank Corporation makes up approximately 1.94% of Berkshire Asset Managementpa’s portfolio.

Other Hedge Funds, Including , Sunnymeath Asset Management sold out all of its stake in MTB during the most recent quarter. The investment firm sold 630 shares of MTB which is valued $71,700.Ferguson Wellman Capital Management Inc reduced its stake in MTB by selling 56,763 shares or 89.91% in the most recent quarter. The Hedge Fund company now holds 6,370 shares of MTB which is valued at $755,036. M&T Bank Corporation makes up approx 0.03% of Ferguson Wellman Capital Management Inc’s portfolio.Capstone Asset Management Co reduced its stake in MTB by selling 60 shares or 0.57% in the most recent quarter. The Hedge Fund company now holds 10,475 shares of MTB which is valued at $1,235,631. M&T Bank Corporation makes up approx 0.04% of Capstone Asset Management Co’s portfolio.

M&T Bank Corporation closed down -4.92 points or -4.14% at $113.81 with 21,18,815 shares getting traded on Wednesday. Post opening the session at $118.47, the shares hit an intraday low of $113.77 and an intraday high of $118.73 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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.

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