M&T BANK CORP recently filed their 13F report for the third quarter of 2022, which ended on 2022-09-30.
The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.
M&T Bank Corp, or Manufacturers and Traders Trust, is a bank holding company that provides commercial and retail banking services through its subsidiaries. The company is headquartered in Buffalo and can trace its history back to the Manufacturers and Traders Trust Company which was founded in 1856 and would go through many mergers, acquisitions, and name changes. The bank was organized under a banking holding company called First Empire State Corporation in 1969. M&T Bank Corp has, in relatively recent years, focused on acquisitions to facilitate further growth, acquiring 20 companies in the period from 1987 to 2009 alone. The company has been profitable every quarter since the 1970s and was one of the only two banks in the S&P 500 that did not lower its dividend. The bank’s name was changed to its current M&T Bank Corp in 1998 and is listed as MTB on the New York Stock Exchange, acquiring companies such as Wilmington Trust and Hudson City Bancorp in its recent years. M&T Bank Corp today offers its services through almost 700 banking offices, business banking centers, telephone and internet banking, and automated teller machines with offices in the United States, Canada, and Cayman Islands. The company’s broad line of services include trust and wealth management, fiduciary, custody, securities brokerage, investment advisory, accident and health insurances, and credit life services. M&T Bank Corp operates through various business segments including Business Banking, offering financial services to small businesses and professionals; Commercial Banking, offering various cash management services to middle market and large commercial clients; Commercial Real Estate, offering credit and deposit services; Discretionary Portfolio, providing various assets, brokered deposits, foreign services, and the Cayman Islands branch deposits; Residential Mortgage, originating residential real estate loans; and Retail Banking, offering a variety of account, loan, and credit services. The company currently holds over $134 billion in total assets under management, making it the 17th largest commercial bank holding company in the United States, and has over 15,000 employees. Its mutual fund offerings were merged with Wilmington Trust to create the Wilmington family of funds including Rock Maple Alternatives, Short Duration Government Bond, Prime Money Market, and Allocation Aggressive funds.
As of the latest 13F report, the guru’s equity portfolio contained 1644 stocks valued at a total of $21.74Bil. The top holdings were IEFA(3.97%), AAPL(3.83%), and MSFT(2.74%).
According to GuruFocus data, these were M&T BANK CORP’s top five trades of the quarter.
iShares 3-7 Year Treasury Bond ETF
During the quarter, M&T BANK CORP bought 860,997 shares of NAS:IEI for a total holding of 1,552,869. The trade had a 0.45% impact on the equity portfolio. During the quarter, the stock traded for an average price of $117.87.
On 11/16/2022, iShares 3-7 Year Treasury Bond ETF traded for a price of $115.18 per share and a market cap of $12.05Bil. The stock has returned -9.44% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
iShares Russell 1000 Growth ETF
During the quarter, M&T BANK CORP bought 343,345 shares of ARCA:IWF for a total holding of 2,333,846. The trade had a 0.33% impact on the equity portfolio. During the quarter, the stock traded for an average price of $234.63.
On 11/16/2022, iShares Russell 1000 Growth ETF traded for a price of $228.42 per share and a market cap of $61.15Bil. The stock has returned -24.15% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
In terms of valuation, iShares Russell 1000 Growth ETF has a price-earnings ratio of 25.51 and a price-book ratio of 8.68.
iShares S&P Small-Cap 600 Value ETF
M&T BANK CORP reduced their investment in ARCA:IJS by 817,570 shares. The trade had a 0.33% impact on the equity portfolio. During the quarter, the stock traded for an average price of $92.01.
On 11/16/2022, iShares S&P Small-Cap 600 Value ETF traded for a price of $97.13 per share and a market cap of $7.13Bil. The stock has returned -10.31% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
In terms of valuation, iShares S&P Small-Cap 600 Value ETF has a price-earnings ratio of 11.42 and a price-book ratio of 1.41.
IJTiShares S&P Small-Cap 600 Growth ETF
During the quarter, M&T BANK CORP bought 635,350 shares of NAS:IJT for a total holding of 1,320,820. The trade had a 0.3% impact on the equity portfolio. During the quarter, the stock traded for an average price of $111.91.
On 11/16/2022, IJTiShares S&P Small-Cap 600 Growth ETF traded for a price of $115.91 per share and a market cap of $5.41Bil. The stock has returned -18.00% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
In terms of valuation, IJTiShares S&P Small-Cap 600 Growth ETF has a price-earnings ratio of 12.16 and a price-book ratio of 2.33.
Apple Inc
M&T BANK CORP reduced their investment in NAS:AAPL by 371,748 shares. The trade had a 0.21% impact on the equity portfolio. During the quarter, the stock traded for an average price of $156.95.
On 11/16/2022, Apple Inc traded for a price of $150.04 per share and a market cap of $2,386.85Bil. The stock has returned 0.63% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 10 out of 10.
In terms of valuation, Apple Inc has a price-earnings ratio of 24.56, a price-book ratio of 47.18, a price-earnings-to-growth (PEG) ratio of 1.41, a EV-to-Ebitda ratio of 18.26 and a price-sales ratio of 6.20.
The price-to-GF Value ratio is 0.87, earning the stock a GF Value rank of 7.
Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.
Want to provide feedback on this article? Have questions or concerns? Get in touch with us here, or email us at [email protected]!
This article is general in nature and does not represent the opinions of GuruFocus or any of its affiliates. This article is not intended to be financial advice, nor does it constitute investment advice or recommendations. It was written without regard to your individual situation or financial goals. We aim to bring you fundamental, data-driven analysis, The information on this site is in no way guaranteed for completeness, accuracy or in any other way.
