Canoe Financial LP Has $85.70 Million Stock Holdings in M&T Bank Corporation $MTB

Canoe Financial LP grew its stake in shares of M&T Bank Corporation (NYSE:MTB) by 46.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 433,679 shares of the financial services provider’s stock after purchasing an additional 138,173 shares during the period. Canoe Financial LP’s holdings in M&T Bank were worth $85,704,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MTB. Crestwood Advisors Group LLC raised its holdings in M&T Bank by 1.7% during the 2nd quarter. Crestwood Advisors Group LLC now owns 3,237 shares of the financial services provider’s stock worth $628,000 after buying an additional 54 shares during the period. First Manhattan CO. LLC. increased its position in shares of M&T Bank by 0.6% in the first quarter. First Manhattan CO. LLC. now owns 9,693 shares of the financial services provider’s stock worth $1,733,000 after acquiring an additional 57 shares in the last quarter. Arkadios Wealth Advisors raised its holdings in shares of M&T Bank by 5.1% during the second quarter. Arkadios Wealth Advisors now owns 1,312 shares of the financial services provider’s stock valued at $254,000 after acquiring an additional 64 shares during the period. Gamco Investors INC. ET AL lifted 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 valued at $3,975,000 after acquiring an additional 67 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in M&T Bank by 4.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,727 shares of the financial services provider’s stock worth $335,000 after purchasing an additional 71 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 5,250 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $191.70, for a total transaction of $1,006,425.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert E. Sadler, Jr. sold 6,000 shares of the business’s stock in a transaction dated 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 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. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

MTB has been the topic of several recent analyst reports. Robert W. Baird boosted 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. UBS Group upped their price target on M&T Bank from $207.00 to $208.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Truist Financial lowered M&T Bank from a “buy” rating to a “hold” rating and set a $217.00 price objective for the company. in a research report on Friday, December 12th. Jefferies Financial Group lifted their target price on M&T Bank from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Finally, Piper Sandler assumed coverage on shares of M&T Bank in a research report on Monday, October 6th. They issued an “overweight” rating and a $225.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, M&T Bank currently has an average rating of “Moderate Buy” and a consensus price target of $217.26.

M&T Bank Trading Up 0.4%

Shares of NYSE MTB opened at $207.19 on Friday. The business has a 50 day simple moving average of $191.03 and a 200 day simple moving average of $192.66. M&T Bank Corporation has a 52 week low of $150.75 and a 52 week high of $208.26. The stock has a market cap of $31.84 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 0.99 and a beta of 0.61. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.97 and a current ratio of 0.97.

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

M&T Bank Dividend Announcement

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

About M&T Bank

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.