Canoe Financial LP Purchases 219,065 Shares of M&T Bank Corporation $MTB

Canoe Financial LP boosted its holdings in shares of M&T Bank Corporation (NYSE:MTB) by 50.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 652,744 shares of the financial services provider’s stock after buying an additional 219,065 shares during the period. M&T Bank comprises 1.8% of Canoe Financial LP’s portfolio, making the stock its 21st largest holding. Canoe Financial LP owned approximately 0.42% of M&T Bank worth $131,515,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Ransom Advisory Ltd raised its position in M&T Bank by 2.0% during the 4th quarter. Ransom Advisory Ltd now owns 2,513 shares of the financial services provider’s stock valued at $506,000 after purchasing an additional 50 shares during the last quarter. Gamco Investors INC. ET AL grew its position in shares of M&T Bank by 0.3% in the 2nd quarter. Gamco Investors INC. ET AL now owns 20,489 shares of the financial services provider’s stock worth $3,975,000 after buying an additional 67 shares during the last quarter. Wedbush Securities Inc. grew its position in shares of M&T Bank by 3.3% in the 3rd quarter. Wedbush Securities Inc. now owns 2,171 shares of the financial services provider’s stock worth $429,000 after buying an additional 70 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of M&T Bank by 4.3% during the second quarter. Geneos Wealth Management Inc. now owns 1,727 shares of the financial services provider’s stock valued at $335,000 after buying an additional 71 shares during the period. Finally, Westside Investment Management Inc. increased its stake in shares of M&T Bank by 61.8% during the third quarter. Westside Investment Management Inc. now owns 199 shares of the financial services provider’s stock valued at $39,000 after buying an additional 76 shares during the period. Institutional investors own 84.68% of the company’s stock.

Insider Buying and Selling at M&T Bank

In other news, Director John P. Barnes sold 21,193 shares of M&T Bank stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $235.85, for a total transaction of $4,998,369.05. Following the completion of the transaction, the director directly owned 15,142 shares in the company, valued at approximately $3,571,240.70. This trade represents a 58.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kirk W. Walters sold 909 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $227.37, for a total value of $206,679.33. Following the completion of the sale, the director directly owned 5,976 shares in the company, valued at approximately $1,358,763.12. This represents a 13.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 49,092 shares of company stock worth $11,182,250 over the last three months. Company insiders own 0.44% of the company’s stock.

M&T Bank Stock Performance

Shares of M&T Bank stock opened at $200.94 on Friday. M&T Bank Corporation has a 12 month low of $150.75 and a 12 month high of $239.00. The firm has a market capitalization of $29.94 billion, a P/E ratio of 11.79, a P/E/G ratio of 0.95 and a beta of 0.58. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.41. The business has a fifty day simple moving average of $216.96 and a two-hundred day simple moving average of $202.58.

M&T Bank (NYSE:MTB) last released its earnings results on Friday, January 16th. The financial services provider reported $4.72 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the prior year, the firm earned $3.77 EPS. On average, equities analysts forecast that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 2nd will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Monday, March 2nd. M&T Bank’s dividend payout ratio is 35.19%.

Analyst Ratings Changes

Several analysts recently weighed in on MTB shares. Jefferies Financial Group lifted their price target on shares of M&T Bank from $255.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, March 5th. UBS Group raised their target price on shares of M&T Bank from $217.00 to $230.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Wolfe Research cut shares of M&T Bank from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 7th. Robert W. Baird increased their price target on shares of M&T Bank from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, December 18th. Finally, Wells Fargo & Company raised their price objective on shares of M&T Bank from $185.00 to $205.00 and gave the stock an “underweight” rating in a report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $232.87.

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.