Plato Investment Management Ltd Has $30,000 Holdings in M&T Bank Co. (NYSE:MTB)

Plato Investment Management Ltd increased its holdings in M&T Bank Co. (NYSE:MTB) by 2,300.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 168 shares of the financial services provider’s stock after buying an additional 161 shares during the period. Plato Investment Management Ltd’s holdings in M&T Bank were worth $30,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of MTB. Marshall Wace LLP boosted its position in shares of M&T Bank by 232.1% during the 2nd quarter. Marshall Wace LLP now owns 676,745 shares of the financial services provider’s stock worth $102,432,000 after acquiring an additional 472,997 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of M&T Bank by 77.0% during the 2nd quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock worth $110,993,000 after buying an additional 319,051 shares during the last quarter. Canoe Financial LP boosted its stake in M&T Bank by 29.4% in the third quarter. Canoe Financial LP now owns 588,302 shares of the financial services provider’s stock valued at $103,200,000 after buying an additional 133,748 shares in the last quarter. International Assets Investment Management LLC grew its position in M&T Bank by 17,784.1% in the third quarter. International Assets Investment Management LLC now owns 110,166 shares of the financial services provider’s stock valued at $19,623,000 after acquiring an additional 109,550 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of M&T Bank by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock valued at $244,129,000 after purchasing an additional 93,113 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MTB. Piper Sandler boosted their price objective on M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Evercore ISI upped their price target on shares of M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. DA Davidson raised their price target on shares of M&T Bank from $192.00 to $207.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Wolfe Research upgraded M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a research report on Friday, October 4th. Finally, Keefe, Bruyette & Woods raised their price objective on M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, M&T Bank currently has an average rating of “Hold” and an average price target of $199.65.

M&T Bank Trading Up 0.7 %

MTB opened at $214.74 on Friday. The company has a fifty day moving average price of $186.15 and a two-hundred day moving average price of $166.57. M&T Bank Co. has a 1-year low of $123.37 and a 1-year high of $216.84. The company has a market cap of $35.63 billion, a P/E ratio of 15.89, a price-to-earnings-growth ratio of 2.98 and a beta of 0.74. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.60 by $0.48. The business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. Analysts predict that M&T Bank Co. will post 14.56 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend was Tuesday, September 3rd. M&T Bank’s payout ratio is presently 39.97%.

Insider Transactions at M&T Bank

In other M&T Bank news, Director Kirk W. Walters sold 2,471 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.60, for a total value of $60,786.60. Following the transaction, the director now owns 20,414 shares of the company’s stock, valued at approximately $502,184.40. The trade was a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John R. Taylor sold 1,436 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $195.03, for a total value of $280,063.08. Following the completion of the transaction, the executive vice president now owns 5,618 shares of the company’s stock, valued at $1,095,678.54. This trade represents a 20.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,854 shares of company stock valued at $13,637,588 over the last ninety days. 0.82% of the stock is currently owned by insiders.

M&T Bank Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.