Jackson Square Capital LLC Has $895,000 Position in M&T Bank Co. (NYSE:MTB)

Jackson Square Capital LLC grew its position in M&T Bank Co. (NYSE:MTB - Free Report) by 36.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,762 shares of the financial services provider's stock after purchasing an additional 1,279 shares during the period. Jackson Square Capital LLC's holdings in M&T Bank were worth $895,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of MTB. American Century Companies Inc. grew its position in M&T Bank by 7.0% in the second quarter. American Century Companies Inc. now owns 61,818 shares of the financial services provider's stock valued at $9,357,000 after purchasing an additional 4,067 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of M&T Bank by 5.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 241,213 shares of the financial services provider's stock valued at $36,510,000 after acquiring an additional 13,278 shares in the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of M&T Bank by 1.5% in the 2nd quarter. Mutual of America Capital Management LLC now owns 38,303 shares of the financial services provider's stock valued at $5,798,000 after acquiring an additional 551 shares in the last quarter. Argent Trust Co increased its position in shares of M&T Bank by 9.3% in the second quarter. Argent Trust Co now owns 1,506 shares of the financial services provider's stock valued at $228,000 after acquiring an additional 128 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its holdings in M&T Bank by 28.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 7,960 shares of the financial services provider's stock worth $1,196,000 after acquiring an additional 1,743 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other M&T Bank news, Vice Chairman Kevin J. Pearson sold 7,500 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $195.88, for a total transaction of $1,469,100.00. Following the sale, the insider now directly owns 40,502 shares in the company, valued at $7,933,531.76. This represents a 15.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Tracy S. Woodrow sold 2,121 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total transaction of $468,210.75. Following the completion of the transaction, the executive vice president now owns 5,141 shares of the company's stock, valued at $1,134,875.75. The trade was a 29.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 84,994 shares of company stock worth $17,211,278 in the last 90 days. Company insiders own 0.82% of the company's stock.

M&T Bank Stock Performance

Shares of MTB traded up $0.78 during midday trading on Friday, reaching $196.88. 2,029,408 shares of the stock were exchanged, compared to its average volume of 1,013,933. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. The stock's 50 day simple moving average is $202.41 and its 200 day simple moving average is $183.71. M&T Bank Co. has a twelve month low of $128.31 and a twelve month high of $225.70. The company has a market cap of $32.67 billion, a P/E ratio of 14.57, a PEG ratio of 2.16 and a beta of 0.79.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, topping the consensus estimate of $3.70 by $0.22. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. During the same period in the previous year, the business posted $2.74 earnings per share. On average, sell-side analysts expect that M&T Bank Co. will post 14.58 earnings per share for the current year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date was Monday, December 2nd. M&T Bank's dividend payout ratio is currently 39.97%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Wolfe Research upgraded M&T Bank from a "peer perform" rating to an "outperform" rating and set a $210.00 price target for the company in a research note on Friday, October 4th. JPMorgan Chase & Co. restated a "neutral" rating and set a $223.50 target price (up from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. The Goldman Sachs Group increased their price target on shares of M&T Bank from $216.00 to $243.00 and gave the company a "neutral" rating in a research note on Tuesday, November 26th. Citigroup lowered shares of M&T Bank from a "buy" rating to a "neutral" rating and boosted their price objective for the stock from $220.00 to $230.00 in a research note on Monday, November 25th. Finally, Piper Sandler raised their target price on shares of M&T Bank from $205.00 to $243.00 and gave the company an "overweight" rating in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $221.68.

About M&T Bank

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.