Cooke & Bieler LP Acquires 4,480 Shares of M&T Bank Corporation $MTB

Cooke & Bieler LP grew its holdings in M&T Bank Corporation (NYSE:MTB) by 1.4% during the third quarter, Holdings Channel.com reports. The firm owned 323,410 shares of the financial services provider’s stock after acquiring an additional 4,480 shares during the period. Cooke & Bieler LP’s holdings in M&T Bank were worth $63,912,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Canoe Financial LP raised its holdings in shares of M&T Bank by 46.8% in the third quarter. Canoe Financial LP now owns 433,679 shares of the financial services provider’s stock valued at $85,704,000 after buying an additional 138,173 shares during the last quarter. Adams Diversified Equity Fund Inc. acquired a new stake in M&T Bank in the 3rd quarter valued at about $18,497,000. SG Americas Securities LLC raised its stake in shares of M&T Bank by 932.4% in the second quarter. SG Americas Securities LLC now owns 100,169 shares of the financial services provider’s stock worth $19,432,000 after acquiring an additional 90,466 shares during the last quarter. Marshall Wace LLP lifted its position in shares of 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 worth $113,375,000 after purchasing an additional 33,920 shares in the last quarter. Finally, Achmea Investment Management B.V. bought a new stake in shares of M&T Bank during the second quarter valued at approximately $6,444,000. Institutional investors own 84.68% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. UBS Group boosted their price objective on shares of M&T Bank from $207.00 to $208.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Robert W. Baird lifted their target price on M&T Bank from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, December 18th. TD Cowen reaffirmed a “buy” rating on shares of M&T Bank in a research note on Wednesday, January 7th. Evercore ISI cut M&T Bank from an “outperform” rating to a “hold” rating and raised their price target for the company from $210.00 to $225.00 in a report on Tuesday, January 6th. Finally, Royal Bank Of Canada boosted their price objective on M&T Bank from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $224.29.

M&T Bank Stock Down 1.7%

NYSE:MTB opened at $213.69 on Monday. 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 stock’s fifty day simple moving average is $202.04 and its 200-day simple moving average is $195.58. The firm has a market capitalization of $32.84 billion, a P/E ratio of 12.53, a P/E/G ratio of 0.94 and a beta of 0.59.

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, 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 firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the prior year, the firm posted $3.77 earnings per share. Equities research analysts expect that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors 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 annualized dividend and a yield of 2.8%. M&T Bank’s dividend payout ratio (DPR) is presently 35.19%.

Insider Activity at M&T Bank

In related news, Director Robert E. Sadler, Jr. sold 6,000 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $190.06, for a total transaction of $1,140,360.00. Following the completion of the transaction, the director owned 17,070 shares in the company, valued at approximately $3,244,324.20. This represents a 26.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Christopher E. Kay sold 5,250 shares of M&T Bank stock in a transaction on 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 sale, the executive vice president owned 5,501 shares in the company, valued at $1,054,541.70. The trade was a 48.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 29,116 shares of company stock worth $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.