M&T Bank Corporation $MTB Shares Acquired by Canoe Financial LP

Canoe Financial LP raised its position in shares of M&T Bank Corporation (NYSE:MTB) by 46.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 433,679 shares of the financial services provider’s stock after buying an additional 138,173 shares during the quarter. Canoe Financial LP owned about 0.28% of M&T Bank worth $85,704,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MTB. Pacer Advisors Inc. raised its position in shares of M&T Bank by 16.6% during the 3rd quarter. Pacer Advisors Inc. now owns 17,074 shares of the financial services provider’s stock valued at $3,374,000 after acquiring an additional 2,425 shares in the last quarter. Trust Co. of Vermont boosted its holdings in M&T Bank by 2.2% in the third quarter. Trust Co. of Vermont now owns 14,862 shares of the financial services provider’s stock worth $2,937,000 after purchasing an additional 325 shares during the period. Canandaigua National Bank & Trust Co. bought a new stake in M&T Bank during the third quarter valued at $200,000. Heartwood Wealth Advisors LLC increased its stake in M&T Bank by 13.7% during the third quarter. Heartwood Wealth Advisors LLC now owns 1,330 shares of the financial services provider’s stock valued at $263,000 after purchasing an additional 160 shares during the last quarter. Finally, First Citizens Financial Corp acquired a new stake in shares of M&T Bank during the third quarter worth $211,000. Institutional investors own 84.68% of the company’s stock.

Insider Activity at M&T Bank

In related news, EVP Christopher E. Kay sold 5,250 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $191.70, for a total transaction of $1,006,425.00. Following the transaction, the executive vice president owned 5,501 shares in the company, valued at $1,054,541.70. This trade represents a 48.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert E. Sadler, Jr. sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $190.06, for a total value of $1,140,360.00. Following the transaction, the director directly owned 17,070 shares of the company’s stock, valued at $3,244,324.20. This represents a 26.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on MTB. Piper Sandler started coverage on shares of M&T Bank in a report on Monday, October 6th. They issued an “overweight” rating and a $225.00 price target for the company. Wall Street Zen raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Cantor Fitzgerald started coverage on M&T Bank in a report on Wednesday, September 10th. They set an “overweight” rating and a $228.00 target price for the company. UBS Group increased their price target on M&T Bank from $207.00 to $208.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Finally, Keefe, Bruyette & Woods raised their price target on M&T Bank from $220.00 to $230.00 and gave the stock a “market perform” rating in a report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $217.26.

M&T Bank Stock Up 0.4%

MTB opened at $207.19 on Friday. M&T Bank Corporation has a 12 month low of $150.75 and a 12 month high of $208.26. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market cap of $31.84 billion, a P/E ratio of 12.76, a P/E/G ratio of 0.99 and a beta of 0.61. The stock’s 50 day moving average price is $191.03 and its 200 day moving average price is $192.66.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share (EPS) for the quarter. The company had revenue of $1.54 billion during the quarter. M&T Bank had a return on equity of 10.62% and a net margin of 20.91%. As a group, research analysts predict that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, December 1st. M&T Bank’s dividend payout ratio is currently 36.95%.

M&T Bank Profile

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.