Campbell & CO Investment Adviser LLC Makes New Investment in M&T Bank Corporation $MTB

Campbell & CO Investment Adviser LLC bought a new stake in shares of M&T Bank Corporation (NYSE:MTB) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,377 shares of the financial services provider’s stock, valued at approximately $667,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC raised its position in shares of M&T Bank by 2,214.3% in the 2nd quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 155 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of M&T Bank during the second quarter worth approximately $36,000. Cullen Frost Bankers Inc. increased its stake in shares of M&T Bank by 1,109.5% in the second quarter. Cullen Frost Bankers Inc. now owns 254 shares of the financial services provider’s stock worth $49,000 after buying an additional 233 shares during the last quarter. Quent Capital LLC bought a new position in M&T Bank during the 3rd quarter valued at $79,000. Finally, CYBER HORNET ETFs LLC acquired a new position in M&T Bank during the 2nd quarter worth $84,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald upped their target price on shares of M&T Bank from $228.00 to $238.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Cowen restated a “buy” rating on shares of M&T Bank in a research note on Wednesday, January 7th. Truist Financial set a $230.00 target price on M&T Bank in a report on Tuesday. UBS Group boosted their price target on M&T Bank from $207.00 to $208.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $230.00 price objective on shares of M&T Bank in a research note on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $224.24.

Insider Activity

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 stock was sold at an average price of $191.70, for a total value of $1,006,425.00. Following the sale, the executive vice president directly owned 5,501 shares in the company, valued at $1,054,541.70. This trade represents a 48.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert E. Sadler, Jr. sold 6,000 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $190.06, for a total value of $1,140,360.00. Following the transaction, the director owned 17,070 shares of the company’s stock, valued at $3,244,324.20. This trade represents a 26.01% decrease in their position. The SEC filing for this sale provides additional information. 0.53% of the stock is currently owned by corporate insiders.

M&T Bank Trading Down 0.2%

NYSE:MTB opened at $211.92 on Wednesday. The firm has a market capitalization of $32.57 billion, a P/E ratio of 12.43, a P/E/G ratio of 0.94 and a beta of 0.59. The business has a 50 day simple moving average of $200.26 and a 200 day simple moving average of $195.24. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.90 and a quick ratio of 0.97. M&T Bank Corporation has a 12-month low of $150.75 and a 12-month high of $215.71.

M&T Bank (NYSE:MTB) last issued its earnings results on Friday, January 16th. The financial services provider reported $4.72 earnings per share for the quarter, topping the consensus estimate of $4.47 by $0.25. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period last year, the company earned $3.77 earnings per share. Equities research analysts predict that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st were paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Monday, December 1st. M&T Bank’s payout ratio is presently 35.19%.

M&T Bank Company 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.