M&T Bank Corporation $MTB Shares Purchased by Plato Investment Management Ltd

Plato Investment Management Ltd boosted its holdings in M&T Bank Corporation (NYSE:MTB) by 54.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,251 shares of the financial services provider’s stock after acquiring an additional 2,905 shares during the quarter. Plato Investment Management Ltd’s holdings in M&T Bank were worth $1,618,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Marshall Wace LLP lifted its stake in M&T Bank by 6.2% during the second quarter. Marshall Wace LLP now owns 584,438 shares of the financial services provider’s stock valued at $113,375,000 after purchasing an additional 33,920 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of M&T Bank by 3.1% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 463,669 shares of the financial services provider’s stock valued at $89,947,000 after buying an additional 13,749 shares in the last quarter. Canoe Financial LP lifted its position in shares of M&T Bank by 46.8% during the 3rd quarter. Canoe Financial LP now owns 433,679 shares of the financial services provider’s stock valued at $85,704,000 after acquiring an additional 138,173 shares during the last quarter. RNC Capital Management LLC boosted its stake in shares of M&T Bank by 0.3% during the 2nd quarter. RNC Capital Management LLC now owns 363,058 shares of the financial services provider’s stock worth $70,430,000 after acquiring an additional 1,058 shares in the last quarter. Finally, Cooke & Bieler LP grew its holdings in shares of M&T Bank by 1.4% in the 3rd quarter. Cooke & Bieler LP now owns 323,410 shares of the financial services provider’s stock worth $63,912,000 after acquiring an additional 4,480 shares during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MTB has been the subject of several analyst reports. Wall Street Zen raised M&T Bank from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. The Goldman Sachs Group boosted their price objective on M&T Bank from $230.00 to $231.00 and gave the stock a “neutral” rating in a report on Tuesday, January 20th. Bank of America reaffirmed a “neutral” rating and set a $225.00 price objective on shares of M&T Bank in a research note on Wednesday, January 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of M&T Bank in a research report on Monday, December 29th. Finally, Robert W. Baird boosted their price target on shares of M&T Bank from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, eight 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 company currently has an average rating of “Hold” and an average price target of $225.45.

Insider Buying and Selling at M&T Bank

In related news, Director Robert E. Sadler, Jr. sold 6,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director owned 17,070 shares of the company’s stock, valued at approximately $3,244,324.20. The trade was a 26.01% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Vice Chairman Gary N. Geisel sold 887 shares of the firm’s stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $215.79, for a total transaction of $191,405.73. Following the transaction, the insider directly owned 16,446 shares in the company, valued at approximately $3,548,882.34. The trade was a 5.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 30,912 shares of company stock worth $6,489,862 over the last quarter. Insiders own 0.53% of the company’s stock.

M&T Bank Stock Up 1.8%

MTB stock opened at $238.19 on Monday. The company has a 50 day moving average of $209.68 and a two-hundred day moving average of $197.49. The company has a market cap of $36.61 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 1.04 and a beta of 0.60. M&T Bank Corporation has a 12-month low of $150.75 and a 12-month high of $238.54. 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 (NYSE:MTB) last posted its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.72 EPS for the quarter, beating the consensus estimate of $4.47 by $0.25. M&T Bank had a net margin of 21.55% and a return on equity of 10.94%. The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same period in the previous year, the company posted $3.77 EPS. On average, equities 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 company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st were paid a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.5%. M&T Bank’s dividend payout ratio (DPR) is 35.19%.

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.