Cooke & Bieler LP Buys 47,610 Shares of M&T Bank Corporation (NYSE:MTB)

Cooke & Bieler LP lifted its position in shares of M&T Bank Corporation (NYSE:MTB - Free Report) by 21.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 270,060 shares of the financial services provider's stock after acquiring an additional 47,610 shares during the period. Cooke & Bieler LP owned 0.16% of M&T Bank worth $48,273,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of MTB. FMR LLC grew its position in M&T Bank by 14.3% in the 4th quarter. FMR LLC now owns 14,110,412 shares of the financial services provider's stock valued at $2,652,899,000 after buying an additional 1,761,014 shares in the last quarter. Norges Bank bought a new position in M&T Bank in the 4th quarter valued at about $317,690,000. GAMMA Investing LLC grew its position in M&T Bank by 18,471.2% in the 1st quarter. GAMMA Investing LLC now owns 705,705 shares of the financial services provider's stock valued at $126,145,000 after buying an additional 701,905 shares in the last quarter. Nuveen Asset Management LLC grew its position in M&T Bank by 22.3% in the 4th quarter. Nuveen Asset Management LLC now owns 1,567,270 shares of the financial services provider's stock valued at $294,662,000 after buying an additional 286,049 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. bought a new position in M&T Bank in the 4th quarter valued at about $48,939,000. Institutional investors own 84.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MTB. Barclays decreased their target price on shares of M&T Bank from $235.00 to $220.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 15th. Jefferies Financial Group set a $225.00 price objective on shares of M&T Bank and gave the company a "buy" rating in a research report on Wednesday, May 21st. Royal Bank Of Canada restated an "outperform" rating and set a $200.00 price objective on shares of M&T Bank in a research report on Monday, May 19th. DA Davidson raised their price objective on shares of M&T Bank from $189.00 to $207.00 and gave the company a "neutral" rating in a research report on Thursday. Finally, Truist Financial reduced their price objective on shares of M&T Bank from $225.00 to $200.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, M&T Bank currently has an average rating of "Moderate Buy" and a consensus target price of $212.88.

Insider Buying and Selling

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 6,700 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $183.52, for a total value of $1,229,584.00. Following the completion of the sale, the director owned 23,070 shares of the company's stock, valued at approximately $4,233,806.40. This trade represents a 22.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.53% of the stock is owned by corporate insiders.

M&T Bank Price Performance

Shares of MTB stock traded up $0.55 on Friday, hitting $196.15. 1,191,662 shares of the company's stock were exchanged, compared to its average volume of 1,205,984. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.91 and a quick ratio of 0.97. M&T Bank Corporation has a 12 month low of $150.75 and a 12 month high of $225.70. The stock has a market cap of $31.49 billion, a P/E ratio of 12.70, a price-to-earnings-growth ratio of 1.37 and a beta of 0.63. The company has a 50 day moving average of $188.26 and a 200 day moving average of $184.31.

M&T Bank (NYSE:MTB - Get Free Report) last posted its earnings results on Wednesday, July 16th. The financial services provider reported $4.28 EPS for the quarter, beating the consensus estimate of $4.04 by $0.24. The firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.39 billion. M&T Bank had a return on equity of 10.35% and a net margin of 20.44%. During the same period last year, the company earned $3.73 earnings per share. On average, equities research analysts predict that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 2nd were paid a dividend of $1.35 per share. The ex-dividend date was Monday, June 2nd. This represents a $5.40 annualized dividend and a yield of 2.75%. M&T Bank's dividend payout ratio is currently 36.17%.

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 the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.