Commerce Bank Buys 1,949 Shares of M&T Bank Co. (NYSE:MTB)

Commerce Bank boosted its stake in M&T Bank Co. (NYSE:MTB) by 65.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,922 shares of the financial services provider’s stock after purchasing an additional 1,949 shares during the period. Commerce Bank’s holdings in M&T Bank were worth $735,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MTB. Marshall Wace LLP lifted its stake in M&T Bank by 355.8% in the 1st quarter. Marshall Wace LLP now owns 2,147 shares of the financial services provider’s stock valued at $337,000 after purchasing an additional 1,676 shares during the last quarter. HighTower Advisors LLC lifted its stake in M&T Bank by 8.9% in the 2nd quarter. HighTower Advisors LLC now owns 6,721 shares of the financial services provider’s stock valued at $981,000 after purchasing an additional 547 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in M&T Bank by 13.1% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 23,809 shares of the financial services provider’s stock valued at $3,460,000 after purchasing an additional 2,766 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of M&T Bank by 38.4% during the second quarter. Rockefeller Capital Management L.P. now owns 8,751 shares of the financial services provider’s stock valued at $1,271,000 after acquiring an additional 2,427 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in shares of M&T Bank by 31.2% during the second quarter. BNP Paribas Arbitrage SA now owns 110,007 shares of the financial services provider’s stock valued at $15,985,000 after acquiring an additional 26,158 shares during the last quarter. 85.30% of the stock is owned by institutional investors and hedge funds.

In other news, EVP D Scott N. Warman sold 3,964 shares of M&T Bank stock in a transaction dated Friday, November 12th. The shares were sold at an average price of $159.88, for a total transaction of $633,764.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert J. Bojdak sold 770 shares of the business’s stock in a transaction dated Monday, October 25th. The stock was sold at an average price of $158.76, for a total transaction of $122,245.20. The disclosure for this sale can be found here. 0.64% of the stock is owned by company insiders.

Several research firms have recently issued reports on MTB. Citigroup raised their price target on shares of M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, December 16th. Morgan Stanley began coverage on shares of M&T Bank in a research note on Tuesday. They set an “equal weight” rating and a $195.00 price target for the company. Royal Bank of Canada raised their price target on shares of M&T Bank from $166.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, October 21st. Piper Sandler raised their price target on shares of M&T Bank from $150.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday, October 21st. Finally, UBS Group started coverage on shares of M&T Bank in a research note on Wednesday. They set a “buy” rating and a $212.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, M&T Bank presently has an average rating of “Hold” and an average price target of $173.97.

NYSE:MTB opened at $185.34 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $23.85 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 0.87 and a beta of 1.08. The firm has a fifty day simple moving average of $157.79 and a two-hundred day simple moving average of $148.09. M&T Bank Co. has a 12 month low of $128.46 and a 12 month high of $185.38.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Tuesday, October 19th. The financial services provider reported $3.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.50 by $0.19. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.47 billion. M&T Bank had a net margin of 30.39% and a return on equity of 12.37%. During the same period last year, the company earned $2.77 earnings per share. Equities analysts predict that M&T Bank Co. will post 13.86 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 31st. Stockholders of record on Tuesday, November 30th were issued a dividend of $1.20 per share. This is a boost from M&T Bank’s previous quarterly dividend of $1.10. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date was Monday, November 29th. M&T Bank’s dividend payout ratio (DPR) is currently 34.41%.

About M&T Bank

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 following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.

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Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

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