Plato Investment Management Ltd Buys 2,905 Shares of M&T Bank Corporation $MTB

Plato Investment Management Ltd increased its stake in M&T Bank Corporation (NYSE:MTB) by 54.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,251 shares of the financial services provider’s stock after purchasing an additional 2,905 shares during the quarter. Plato Investment Management Ltd’s holdings in M&T Bank were worth $1,618,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in MTB. Crestwood Advisors Group LLC raised its position in shares of M&T Bank by 1.7% in the second quarter. Crestwood Advisors Group LLC now owns 3,237 shares of the financial services provider’s stock valued at $628,000 after purchasing an additional 54 shares during the period. Arkadios Wealth Advisors grew its stake in M&T Bank by 5.1% in the 2nd quarter. Arkadios Wealth Advisors now owns 1,312 shares of the financial services provider’s stock valued at $254,000 after buying an additional 64 shares during the last quarter. Gamco Investors INC. ET AL raised its holdings in 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 acquiring an additional 67 shares during the period. Geneos Wealth Management Inc. raised its holdings 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 acquiring an additional 71 shares during the period. Finally, Westside Investment Management Inc. lifted its position in M&T Bank by 61.8% during the 3rd quarter. Westside Investment Management Inc. now owns 199 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 76 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

Insider Buying and Selling at M&T Bank

In related news, Director Robert E. Sadler, Jr. sold 6,000 shares of the firm’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 transaction, the director owned 17,070 shares in the company, valued at $3,244,324.20. This trade represents a 26.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John P. Barnes sold 17,866 shares of the business’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $220.81, for a total value of $3,944,991.46. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 30,912 shares of company stock valued at $6,489,862 over the last ninety days. Company insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MTB. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of M&T Bank in a research report on Monday, December 29th. Cantor Fitzgerald upped their price objective on shares of M&T Bank from $228.00 to $238.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Robert W. Baird lifted their target price on M&T Bank from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, December 18th. Jefferies Financial Group boosted their price target on M&T Bank from $250.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Finally, Truist Financial set a $230.00 target price on M&T Bank in a research report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, M&T Bank presently has an average rating of “Hold” and a consensus target price of $225.45.

M&T Bank Stock Performance

Shares of NYSE:MTB opened at $238.19 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 0.90. The firm has a market cap of $36.61 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 1.04 and a beta of 0.60. M&T Bank Corporation has a twelve month low of $150.75 and a twelve month high of $238.54. The business has a fifty day moving average of $209.68 and a 200-day moving average of $197.49.

M&T Bank (NYSE:MTB) last announced its earnings results on Friday, January 16th. The financial services provider reported $4.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.47 by $0.25. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.47 billion. M&T Bank had a net margin of 21.55% and a return on equity of 10.94%. During the same period in the prior year, the business earned $3.77 earnings per share. On average, equities research analysts predict that M&T Bank Corporation will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st were given a dividend of $1.50 per share. The ex-dividend date 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 payout ratio is presently 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.