M&T Bank Corporation $MTB Shares Bought by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC increased its position in M&T Bank Corporation (NYSE:MTB) by 79.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,303 shares of the financial services provider’s stock after buying an additional 6,354 shares during the quarter. Manning & Napier Advisors LLC’s holdings in M&T Bank were worth $2,827,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MTB. Marshall Wace LLP boosted its position in shares of M&T Bank by 6.2% during the 2nd 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 in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in M&T Bank by 3.1% during 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 purchasing an additional 13,749 shares during the last quarter. Canoe Financial LP boosted its holdings in M&T Bank by 46.8% during the third quarter. Canoe Financial LP now owns 433,679 shares of the financial services provider’s stock worth $85,704,000 after buying an additional 138,173 shares in the last quarter. RNC Capital Management LLC grew its position in M&T Bank by 0.3% in the second quarter. RNC Capital Management LLC now owns 363,058 shares of the financial services provider’s stock worth $70,430,000 after buying an additional 1,058 shares during the last quarter. Finally, Cooke & Bieler LP increased its holdings in shares of M&T Bank by 18.1% in the second quarter. Cooke & Bieler LP now owns 318,930 shares of the financial services provider’s stock valued at $61,869,000 after buying an additional 48,870 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

MTB has been the subject of several research reports. Wells Fargo & Company raised their price objective on M&T Bank from $185.00 to $205.00 and gave the stock an “underweight” rating in a research note on Monday, January 5th. Barclays upped their target price on M&T Bank from $220.00 to $236.00 and gave the company an “equal weight” rating in a report on Monday, January 5th. UBS Group lifted their price target on M&T Bank from $207.00 to $208.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. Evercore ISI downgraded M&T Bank from an “outperform” rating to a “hold” rating and boosted their price objective for the stock from $210.00 to $225.00 in a report on Tuesday, January 6th. Finally, Citigroup raised their target price on shares of M&T Bank from $215.00 to $225.00 and gave the stock a “neutral” rating in a report on Friday, January 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, M&T Bank has a consensus rating of “Hold” and a consensus price target of $221.18.

M&T Bank Price Performance

Shares of MTB opened at $209.88 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market capitalization of $32.26 billion, a price-to-earnings ratio of 12.92, a P/E/G ratio of 0.92 and a beta of 0.59. The business’s 50-day moving average is $198.15 and its 200-day moving average is $194.90. M&T Bank Corporation has a fifty-two week low of $150.75 and a fifty-two week high of $215.49.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $4.87 EPS for the quarter, beating analysts’ consensus estimates of $4.40 by $0.47. M&T Bank had a net margin of 20.91% and a return on equity of 10.62%. The firm had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the previous year, the firm posted $4.02 earnings per share. Equities research analysts expect that M&T Bank Corporation will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st were paid a $1.50 dividend. 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 2.9%. M&T Bank’s dividend payout ratio is 36.95%.

Insider Buying and Selling at M&T Bank

In related news, Director Robert E. Sadler, Jr. sold 6,000 shares of M&T Bank stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $190.06, for a total transaction 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. This trade represents a 26.01% 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, EVP Christopher E. Kay sold 5,250 shares of the company’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $191.70, for a total value of $1,006,425.00. Following the completion of the transaction, the executive vice president directly owned 5,501 shares in the company, valued at approximately $1,054,541.70. The trade was a 48.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.53% of the stock is currently owned by company insiders.

M&T Bank Company 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.