Cooke & Bieler LP Has $63.91 Million Holdings in M&T Bank Corporation $MTB

Cooke & Bieler LP boosted its position in shares of M&T Bank Corporation (NYSE:MTB) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 323,410 shares of the financial services provider’s stock after acquiring an additional 4,480 shares during the period. Cooke & Bieler LP owned 0.21% of M&T Bank worth $63,912,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MTB. Golden State Wealth Management LLC lifted its position in shares of M&T Bank by 2,214.3% during the 2nd quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 155 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in shares of M&T Bank during the second quarter worth approximately $36,000. Cullen Frost Bankers Inc. lifted its holdings in shares of M&T Bank by 1,109.5% during 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. Root Financial Partners LLC bought a new stake in shares of M&T Bank in the third quarter valued at approximately $61,000. Finally, Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of M&T Bank by 29.6% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 359 shares of the financial services provider’s stock worth $71,000 after acquiring an additional 82 shares during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MTB shares. Robert W. Baird upped their target price on shares of M&T Bank from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, December 18th. Royal Bank Of Canada upped their price objective on shares of M&T Bank from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday, January 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of M&T Bank in a research note on Monday, December 29th. Bank of America restated a “neutral” rating and set a $225.00 price target on shares of M&T Bank in a research note on Wednesday, January 7th. Finally, Wolfe Research cut M&T Bank from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $224.29.

M&T Bank Stock Performance

NYSE:MTB opened at $213.69 on Monday. The firm has a market capitalization of $32.84 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 0.94 and a beta of 0.59. The company has a quick ratio of 0.97, a current ratio of 0.90 and a debt-to-equity ratio of 0.41. M&T Bank Corporation has a 12-month low of $150.75 and a 12-month high of $222.18. The firm has a 50-day moving average price of $202.04 and a 200 day moving average price of $195.58.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.72 earnings per share for the quarter, beating 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 company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period in the prior year, the company posted $3.77 EPS. Research analysts anticipate that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 2.8%. The ex-dividend date was Monday, December 1st. M&T Bank’s dividend payout ratio is currently 35.19%.

Insider Buying and Selling at M&T Bank

In related news, Director John P. Barnes sold 17,866 shares of M&T Bank stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $220.81, for a total transaction of $3,944,991.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christopher E. Kay sold 5,250 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president owned 5,501 shares in the company, valued at approximately $1,054,541.70. This trade represents a 48.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 29,116 shares of company stock valued at $6,091,776. 0.53% of the stock is currently owned by company insiders.

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.