M&T Bank Corporation $MTB Shares Purchased by Cooke & Bieler LP

Cooke & Bieler LP lifted its stake in shares of M&T Bank Corporation (NYSE:MTB) by 18.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 318,930 shares of the financial services provider’s stock after acquiring an additional 48,870 shares during the quarter. Cooke & Bieler LP owned about 0.20% of M&T Bank worth $61,869,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Wealth Preservation Advisors LLC acquired a new position in shares of M&T Bank during the first quarter valued at approximately $25,000. WPG Advisers LLC acquired a new position in shares of M&T Bank during the 1st quarter valued at $25,000. Family Legacy Financial Solutions LLC acquired a new position in shares of M&T Bank during the 2nd quarter valued at $46,000. Cullen Frost Bankers Inc. increased its position in shares of M&T Bank by 1,109.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 254 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 233 shares during the period. Finally, Stone House Investment Management LLC acquired a new position in M&T Bank during the first quarter worth about $66,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Activity at M&T Bank

In other news, Director John P. Barnes sold 15,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $199.79, for a total value of $2,996,850.00. Following the completion of the sale, the director owned 17,866 shares of the company’s stock, valued at $3,569,448.14. This trade represents a 45.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.53% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MTB has been the topic of a number of research analyst reports. Cantor Fitzgerald initiated coverage on M&T Bank in a report on Wednesday, September 10th. They set an “overweight” rating and a $228.00 target price on the stock. Evercore ISI lifted their price objective on shares of M&T Bank from $222.00 to $225.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Weiss Ratings cut shares of M&T Bank from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Piper Sandler began 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 on the stock. Finally, UBS Group lifted their price target 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. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $217.76.

M&T Bank Stock Performance

M&T Bank stock opened at $183.94 on Friday. The firm’s 50 day simple moving average is $192.89 and its 200-day simple moving average is $187.86. The company has a market cap of $28.27 billion, a P/E ratio of 11.33, a price-to-earnings-growth ratio of 0.87 and a beta of 0.62. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.97 and a quick ratio of 0.97. M&T Bank Corporation has a fifty-two week low of $150.75 and a fifty-two week high of $225.70.

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

M&T Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd were given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 3.3%. This is a boost from M&T Bank’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Tuesday, September 2nd. M&T Bank’s payout ratio is 36.95%.

M&T Bank Company Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.