Top 5 Losers Today

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In this article, we discuss the top 5 losers on Wednesday. If you want to see some more companies on the list, go directly to Top 10 Losers Today.

5. M&T Bank Corporation (NYSE:MTB)

Number of Hedge Fund Holders: 39

Shares of M&T Bank Corporation (NYSE:MTB) fell nearly six percent in the pre-market trading session today after the community-focused bank missed profit expectations for the third quarter.

M&T Bank Corporation (NYSE:MTB) reported earnings of $3.83 per share, compared to $3.76 per share in the same period of 2021. However, analysts were looking for earnings of $3.96 per share.

Net interest income for the quarter rose to $1.69 billion, from $971 million in the year-ago period. In comparison, non-interest income slipped to $563 million, from $569 million in the corresponding period of 2021.

Among other updates, M&T Bank Corporation (NYSE:MTB) reported that it repurchased $600 million worth of its common stock during the latest quarter.

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