M & T BK CORP MTB
COM · Common Stock · CUSIP 55261F104 · ISIN US55261F1049
American bank holding company
- SectorFinancials
- IndustryState Commercial Banks
- HeadquartersBuffalo, NY
- Founded1856
- Websitewww3.mtb.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($18.8m this quarter). Holder counts are more reliable. Shares outstanding: 165.9m as of 2023-05-01, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $119.62. Options: 24 managers hold calls ($133.1m notional), 28 hold puts ($175.2m).
Trends to Q1 2023
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 924 |
| Q4 2022 | 897 |
| Q1 2023 | 831 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 338 | 468 |
| Q1 2023 | 353 | 461 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2022 | $142.1m | $105.3m | 0.74 |
| Q4 2022 | $158.8m | $95.2m | 0.60 |
| Q1 2023 | $133.1m | $175.2m | 1.32 |
Biggest buyers
| FMR LLC | Added | +8.1m |
| WELLINGTON MANAGEMENT GROUP LLP | Added | +3.9m |
| M&T Bank Corp | Added | +773.8k |
| JPMORGAN CHASE & CO | Added | +571.9k |
| MARSHALL WACE, LLP | Added | +502.9k |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC | Added | +426.1k |
| MILLENNIUM MANAGEMENT LLC | Added | +388.0k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Added | +237.5k |
| Advisors Capital Management, LLC | New | +214.1k |
| Davis Asset Management, L.P. | New | +190.0k |
Biggest sellers
| WELLS FARGO & COMPANY/MN | Reduced | -2.2m |
| CITADEL ADVISORS LLC | Reduced | -1.9m |
| Capital World Investors | Sold out | -860.0k |
| NEUBERGER BERMAN GROUP LLC | Reduced | -549.2k |
| Ninety One UK Ltd | Reduced | -418.2k |
| Clearbridge Investments, LLC | Reduced | -396.0k |
| ROYAL BANK OF CANADA | Reduced | -345.1k |
| TWINBEECH CAPITAL LP | Sold out | -299.2k |
| Nuveen Asset Management, LLC | Reduced | -299.0k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | Reduced | -293.5k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $38.6m322.9k shares |
| CITADEL ADVISORS LLC | Added | $38.2m319.4k shares |
| JANE STREET GROUP, LLC | Added | $9.8m82.0k shares |
| SIMPLEX TRADING, LLC | Added | $7.6m63.6k shares |
| Walleye Trading LLC | Added | $6.1m51.2k shares |
| Cubist Systematic Strategies, LLC | Added | $5.4m45.0k shares |
| Parallax Volatility Advisers, L.P. | Added | $5.1m42.9k shares |
| D. E. Shaw & Co., Inc. | New | $3.7m30.7k shares |
| WOLVERINE TRADING, LLC | Added | $3.3m28.0k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $3.3m27.9k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $38.4m321.3k shares |
| CITADEL ADVISORS LLC | Added | $27.8m232.1k shares |
| PEAK6 Investments LLC | Added | $19.4m162.3k shares |
| SIMPLEX TRADING, LLC | Added | $16.2m135.8k shares |
| BARCLAYS PLC | New | $12.0m100.0k shares |
| Parallax Volatility Advisers, L.P. | Added | $10.3m86.1k shares |
| Eisler Capital (UK) Ltd. | Unchanged | $8.4m70.0k shares |
| JANE STREET GROUP, LLC | Added | $8.2m68.8k shares |
| Walleye Trading LLC | Reduced | $7.1m59.1k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $6.3m52.8k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| FMR LLC 13G · institution +1.4 pts · filed 2026-02-05 | 8.7% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 7.6% |
| WELLINGTON MANAGEMENT GROUP LLP 13G · institution +1.5 pts · filed 2025-05-12 | 6.0% |
Fell to 5% or below in the last year: VANGUARD PORTFOLIO MANAGEMENT LLC (4.8%, 2026-07-31; now reported by VANGUARD CAPITAL MANAGEMENT LLC), VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q1 2023
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q2 2021 | 0 | — | 0 | — | — |
| Q3 2021 | 0 | — | 0 | — | — |
| Q4 2021 | 0 | — | 2 | $756.0k | — |
| Q1 2022 | 0 | — | 0 | — | — |
| Q2 2022 | 0 | — | 6 | $3.6m | — |
| Q3 2022 | 1 | $1.0k | 8 | $9.2m | — |
| Q4 2022 | 0 | — | 0 | — | — |
| Q1 2023 | 1 | $61.0k | 0 | — | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2023-02-21 | Ledgett Richard H. Jr. Director · By IRA | Bought | $61.0k390 shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q1 2023
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.06% of their portfolio | 20.1m $2.4bn | Reduced -278.2k |
| FMR LLC 0.09% of their portfolio | 16.0m $1.9bn | Added +8.1m |
| WELLINGTON MANAGEMENT GROUP LLP 0.36% of their portfolio | 15.2m $1.8bn | Added +3.9m |
| BlackRock Inc. 0.05% of their portfolio | 13.1m $1.6bn | Added +108.1k |
| STATE STREET CORP 0.05% of their portfolio | 8.0m $954.8m | Added +55.6k |
| JPMORGAN CHASE & CO 0.09% of their portfolio | 6.1m $728.9m | Added +571.9k |
| STATE FARM MUTUAL AUTOMOBILE INSURANCE CO 0.52% of their portfolio | 4.2m $505.6m | Unchanged |
| Invesco Ltd. 0.13% of their portfolio | 3.8m $460.0m | Reduced -7.9k |
| GEODE CAPITAL MANAGEMENT, LLC 0.06% of their portfolio | 3.7m $438.7m | Added +183.7k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.13% of their portfolio | 3.5m $413.1m | Reduced -257.7k |
| MORGAN STANLEY 0.04% of their portfolio | 3.1m $366.3m | Added +76.4k |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC 1.35% of their portfolio | 2.9m $347.7m | Added +426.1k |
| M&T Bank Corp 0.82% of their portfolio | 1.8m $212.6m | Added +773.8k |
| NORTHERN TRUST CORP 0.04% of their portfolio | 1.8m $210.4m | Reduced -15.5k |
| NORGES BANK 0.04% of their portfolio | 1.5m $183.6m | Reduced -57.4k |
| Bank of New York Mellon Corp 0.04% of their portfolio | 1.4m $170.0m | Reduced -26.9k |
| DIMENSIONAL FUND ADVISORS LP 0.06% of their portfolio | 1.4m $165.7m | Added +106.5k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.06% of their portfolio | 1.4m $161.5m | Added +237.5k |
| GOLDMAN SACHS GROUP INC 0.04% of their portfolio | 1.3m $150.4m | Added +165.3k |
| BANK OF AMERICA CORP /DE/ 0.02% of their portfolio | 1.1m $131.7m | Reduced -197.5k |
| Legal & General Group Plc 0.05% of their portfolio | 1.1m $131.3m | Added +7.3k |
| Nuveen Asset Management, LLC 0.04% of their portfolio | 969.0k $115.9m | Reduced -299.0k |
| LONDON CO OF VIRGINIA 0.67% of their portfolio | 968.8k $115.8m | Reduced -8.5k |
| MARSHALL WACE, LLP 0.25% of their portfolio | 853.7k $102.1m | Added +502.9k |
| WELLS FARGO & COMPANY/MN 0.03% of their portfolio | 821.9k $98.3m | Reduced -2.2m |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.21% of their portfolio | 769.6k $92.0m | Reduced -293.5k |
| Ninety One UK Ltd 0.26% of their portfolio | 702.7k $84.0m | Reduced -418.2k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.04% of their portfolio | 671.2k $80.3m | Reduced -4.2k |
| AMERIPRISE FINANCIAL INC 0.02% of their portfolio | 615.9k $73.6m | Reduced -47.7k |
| Balyasny Asset Management L.P. 0.24% of their portfolio | 602.2k $72.0m | Added +42.1k |
| Thrivent Financial for Lutherans 0.16% of their portfolio | 565.8k $67.7m | Added +183.7k |
| Sumitomo Mitsui Trust Group, Inc. 0.05% of their portfolio | 562.1k $67.2m | Added +52.4k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.04% of their portfolio | 538.7k $64.4m | Reduced -65.2k |
| CRAWFORD INVESTMENT COUNSEL INC 1.36% of their portfolio | 532.8k $63.7m | Added +3.2k |
| Amundi 0.03% of their portfolio | 524.4k $61.6m | Added +36.3k |
| MILLENNIUM MANAGEMENT LLC 0.07% of their portfolio | 479.7k $57.4m | Added +388.0k |
| BARCLAYS PLC 0.06% of their portfolio | 476.2k $56.9m | Added +126.1k |
| COOKE & BIELER LP 0.53% of their portfolio | 451.0k $53.9m | Added +79.3k |
| ANCHOR CAPITAL ADVISORS LLC 1.42% of their portfolio | 449.7k $53.8m | Reduced -24.2k |
| Artisan Partners Limited Partnership 0.09% of their portfolio | 440.5k $52.7m | Added +118.8k |
| APG Asset Management N.V. 0.10% of their portfolio | 406.9k $44.8m | Reduced -55.3k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.01% of their portfolio | 367.0k $43.9m | Added +45.8k |
| BANK OF MONTREAL /CAN/ 0.02% of their portfolio | 357.5k $43.0m | Reduced -22.6k |
| STIFEL FINANCIAL CORP 0.06% of their portfolio | 355.8k $42.5m | Added +56.0k |
| ASSETMARK, INC 0.17% of their portfolio | 350.6k $41.9m | Added +20.1k |
| RHUMBLINE ADVISERS 0.05% of their portfolio | 340.9k $40.8m | Reduced -4.2k |
| California Public Employees Retirement System 0.04% of their portfolio | 335.3k $40.1m | Reduced -65.8k |
| Premier Fund Managers Ltd 1.58% of their portfolio | 333.2k $39.8m | Unchanged |
| MEAG MUNICH ERGO, Kapitalanlagegesellschaft mbH 1.79% of their portfolio | 317.2k $37.9m | Added +103.0k |
| Clearbridge Investments, LLC 0.03% of their portfolio | 304.4k $36.4m | Reduced -396.0k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 300.8k $36.0m | Reduced -345.1k |
| VICTORY CAPITAL MANAGEMENT INC 0.04% of their portfolio | 299.9k $35.9m | Added +11.5k |
| Giverny Capital Inc. 2.15% of their portfolio | 297.8k $35.6m | Reduced -8.6k |
| ABSHER WEALTH MANAGEMENT, LLC 6.12% of their portfolio | 295.8k $35.4m | Added +63.4k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.05% of their portfolio | 288.2k $34.5m | Reduced -6.7k |
| DEUTSCHE BANK AG\ 0.02% of their portfolio | 283.7k $33.9m | Reduced -35.4k |
| HSBC HOLDINGS PLC 0.04% of their portfolio | 277.9k $33.2m | Reduced -23.8k |
| Polaris Capital Management, LLC 1.16% of their portfolio | 259.2k $31.0m | Reduced -1.6k |
| National Pension Service 0.06% of their portfolio | 259.2k $31.0m | Added +26.9k |
| CREDIT SUISSE AG/ 0.03% of their portfolio | 255.6k $30.6m | Reduced -45.5k |
| HUNTINGTON NATIONAL BANK 0.30% of their portfolio | 251.9k $30.1m | Added +271 |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 243.7k $29.1m | Added +4.6k |
| Ruffer LLP 0.99% of their portfolio | 240.2k $28.7m | Added +12.9k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.04% of their portfolio | 236.0k $28.2m | Reduced -11.9k |
| FEDERATED HERMES, INC. 0.07% of their portfolio | 229.6k $27.5m | Reduced -180.2k |
| CONNING INC. 0.86% of their portfolio | 216.7k $25.9m | Added +12.3k |
| ALGEBRIS (UK) LTD 10.45% of their portfolio | 216.7k $26.0m | Added +92.3k |
| Advisors Capital Management, LLC 0.66% of their portfolio | 214.1k $25.6m | New |
| LGT CAPITAL PARTNERS LTD. 0.71% of their portfolio | 214.0k $25.6m | Reduced -149.8k |
| PRINCIPAL FINANCIAL GROUP INC 0.02% of their portfolio | 209.7k $25.1m | Reduced -1.2k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.05% of their portfolio | 193.0k $23.1m | Reduced -10.0k |
| Davis Asset Management, L.P. 1.46% of their portfolio | 190.0k $22.7m | New |
| FIRST TRUST ADVISORS LP 0.03% of their portfolio | 187.1k $22.4m | Added +83.6k |
| BERKSHIRE ASSET MANAGEMENT LLC/PA 1.35% of their portfolio | 182.2k $21.8m | Added +810 |
| RAYMOND JAMES & ASSOCIATES 0.02% of their portfolio | 181.6k $21.7m | Reduced -20.3k |
| TRUIST FINANCIAL CORP 0.04% of their portfolio | 181.3k $21.7m | Reduced -17.1k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.05% of their portfolio | 180.2k $21.5m | Reduced -13.8k |
| PRUDENTIAL FINANCIAL INC 0.04% of their portfolio | 177.8k $26.2m | Reduced -79.5k |
| SEIZERT CAPITAL PARTNERS, LLC 1.15% of their portfolio | 174.5k $20.9m | Added +33.0k |
| Walleye Capital LLC 0.42% of their portfolio | 172.2k $20.6m | New |
| CITIGROUP INC 0.03% of their portfolio | 168.6k $20.2m | Added +77.5k |
| CANADA LIFE ASSURANCE Co 0.04% of their portfolio | 143.4k $17.2m | Reduced -8.5k |
| Cinctive Capital Management LP 0.63% of their portfolio | 141.6k $16.9m | Added +94.4k |
| CITADEL ADVISORS LLC 0.02% of their portfolio | 141.1k $16.9m | Reduced -1.9m |
| SPEECE THORSON CAPITAL GROUP INC 3.53% of their portfolio | 140.1k $16.7m | Added +27.5k |
| GRANDFIELD & DODD, LLC 1.13% of their portfolio | 135.5k $16.2m | Added +1.6k |
| Marathon Asset Management Ltd 0.45% of their portfolio | 134.8k $16.1m | Reduced -20.9k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.04% of their portfolio | 134.4k $16.1m | Added +7.4k |
| AQR CAPITAL MANAGEMENT LLC 0.03% of their portfolio | 132.1k $15.7m | Added +80.7k |
| PNC Financial Services Group, Inc. 0.01% of their portfolio | 125.8k $15.0m | Reduced -4.8k |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 125.4k $15.0m | Added +13.8k |
| TOCQUEVILLE ASSET MANAGEMENT L.P. 0.28% of their portfolio | 125.0k $15.0m | Reduced -2.0k |
| CONFLUENCE INVESTMENT MANAGEMENT LLC 0.22% of their portfolio | 123.4k $14.8m | Added +5.0k |
| Rafferty Asset Management, LLC 0.10% of their portfolio | 117.9k $14.1m | Added +37.7k |
| BI Asset Management Fondsmaeglerselskab A/S 0.37% of their portfolio | 117.6k $14.1m | Reduced -8.9k |
| Ensign Peak Advisors, Inc 0.03% of their portfolio | 115.7k $13.8m | Added +40.5k |
| UBS Group AG 0.01% of their portfolio | 115.3k $13.8m | Reduced -175.3k |
| RNC CAPITAL MANAGEMENT LLC 0.77% of their portfolio | 114.8k $13.7m | Added +107.7k |
| AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio | 108.1k $12.9m | Added +82.5k |
| Mitsubishi UFJ Trust & Banking Corp 0.03% of their portfolio | 103.7k $12.4m | Reduced -2.2k |