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 ($40.8m this quarter). Holder counts are more reliable. Shares outstanding: 165.9m as of 2024-11-01, 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 ≈ $177.81. Options: 24 managers hold calls ($153.9m notional), 17 hold puts ($96.6m).
Trends to Q3 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 924 |
| Q4 2022 | 897 |
| Q1 2023 | 831 |
| Q2 2023 | 832 |
| Q3 2023 | 809 |
| Q4 2023 | 893 |
| Q1 2024 | 897 |
| Q2 2024 | 925 |
| Q3 2024 | 950 |
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 |
| Q2 2023 | 360 | 412 |
| Q3 2023 | 338 | 389 |
| Q4 2023 | 380 | 391 |
| Q1 2024 | 376 | 434 |
| Q2 2024 | 431 | 376 |
| Q3 2024 | 435 | 416 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2023 | $121.6m | $160.9m | 1.32 |
| Q1 2024 | $134.3m | $167.2m | 1.25 |
| Q2 2024 | $145.7m | $68.5m | 0.47 |
| Q3 2024 | $153.9m | $96.6m | 0.63 |
Biggest buyers
| MORGAN STANLEY | Added | +1.8m |
| FMR LLC | Added | +1.5m |
| STATE STREET CORP | Added | +527.9k |
| DNB Asset Management AS | Added | +350.9k |
| MARSHALL WACE, LLP | Added | +305.4k |
| Zurich Insurance Group Ltd/FI | New | +249.4k |
| Nuveen Asset Management, LLC | Added | +226.5k |
| FEDERATED HERMES, INC. | Added | +199.0k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | Added | +190.8k |
| ALLIANCEBERNSTEIN L.P. | Added | +143.2k |
Biggest sellers
| WELLINGTON MANAGEMENT GROUP LLP | Reduced | -1.5m |
| Balyasny Asset Management L.P. | Sold out | -530.9k |
| JPMORGAN CHASE & CO | Reduced | -502.6k |
| DEUTSCHE BANK AG\ | Reduced | -332.1k |
| Amundi | Reduced | -238.6k |
| Junto Capital Management LP | Reduced | -175.9k |
| JANE STREET GROUP, LLC | Reduced | -159.2k |
| KBC Group NV | Reduced | -157.8k |
| FIRST TRUST ADVISORS LP | Reduced | -157.1k |
| MENORA MIVTACHIM HOLDINGS LTD. | Reduced | -143.5k |
Biggest calls
| Twin Tree Management, LP | Reduced | $41.9m235.4k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $36.2m203.5k shares |
| JANE STREET GROUP, LLC | Added | $17.9m100.3k shares |
| CITADEL ADVISORS LLC | Reduced | $13.4m75.3k shares |
| GTS SECURITIES LLC | Added | $7.2m40.2k shares |
| SIMPLEX TRADING, LLC | Reduced | $5.1m28.5k shares |
| GROUP ONE TRADING LLC | Added | $3.5m19.8k shares |
| Walleye Trading LLC | Added | $3.5m19.5k shares |
| WOLVERINE TRADING, LLC | Reduced | $3.5m19.8k shares |
| Balyasny Asset Management L.P. | Added | $3.2m17.8k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $31.6m177.4k shares |
| PEAK6 Investments LLC | Reduced | $9.8m55.2k shares |
| Walleye Trading LLC | Reduced | $9.4m53.0k shares |
| CITADEL ADVISORS LLC | Added | $9.4m53.0k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $9.0m50.4k shares |
| Twin Tree Management, LP | Added | $5.6m31.5k shares |
| JANE STREET GROUP, LLC | New | $5.5m30.8k shares |
| WOLVERINE TRADING, LLC | Added | $4.8m27.5k shares |
| GTS SECURITIES LLC | Reduced | $3.3m18.6k shares |
| CAPSTONE INVESTMENT ADVISORS, LLC | Added | $2.1m12.0k 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 Q3 2024
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 |
|---|---|---|---|---|---|
| Q4 2022 | 0 | — | 0 | — | — |
| Q1 2023 | 1 | $61.0k | 0 | — | — |
| Q2 2023 | 1 | $1.2m | 1 | $82.9k | — |
| Q3 2023 | 0 | — | 2 | $8.2m | — |
| Q4 2023 | 1 | $555.2k | 5 | $20.8m | — |
| Q1 2024 | 0 | — | 3 | $5.2m | — |
| Q2 2024 | 0 | — | 4 | $26.2m | — |
| Q3 2024 | 0 | — | 6 | $3.7m | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2024-09-03 | SALAMONE DENIS J Director | Sold | $1.7m10.0k shares |
| 2024-08-23 | WALTERS KIRK W Director · By Gus & Bonnie, LLC · Series H Perpetual Non-Cumulative Preferred Stock | Sold | —1.4k shares |
| 2024-08-22 | WALTERS KIRK W Director · By Gus & Bonnie, LLC · Series H Perpetual Non-Cumulative Preferred Stock | Sold | —10.4k shares |
| 2024-08-21 | WALTERS KIRK W Director · By Gus & Bonnie, LLC · Series H Perpetual Non-Cumulative Preferred Stock | Sold | —3.5k shares |
| 2024-08-20 | WALTERS KIRK W Director · By Gus & Bonnie, LLC · Series H Perpetual Non-Cumulative Preferred Stock | Sold | —5.1k shares |
| 2024-08-19 | WALTERS KIRK W Director · By Gus & Bonnie, LLC · Series H Perpetual Non-Cumulative Preferred Stock | Sold | —2.5k shares |
| 2024-08-16 | WALTERS KIRK W Director · By Gus & Bonnie, LLC · Series H Perpetual Non-Cumulative Preferred Stock | Sold | —1.8k shares |
| 2024-08-15 | WALTERS KIRK W Director · By Gus & Bonnie, LLC · Series H. Perpetual Non-Cumulative Preferred Stock | Sold | —20 shares |
| 2024-08-14 | WALTERS KIRK W Director · By Gus & Bonnie, LLC · Series H. Perpetual Non-Cumulative Preferred Stock | Sold | —14.8k shares |
| 2024-08-13 | WALTERS KIRK W Director · By Gus & Bonnie, LLC · Series H Perpetual Non-Cumulative Preferred Stock | Sold | —350 shares |
| 2024-08-09 | PEARSON KEVIN J Vice Chairman | Sold | $989.1k6.1k shares |
| 2024-08-09 | Todaro Michael J. Sr. Executive Vice President | Sold | $778.9k4.8k shares |
| 2024-07-29 | WALTERS KIRK W Director · By Gus & Bonnie, LLC · Series H. Perpetual Non-Cumulative Preferred Stock | Sold | —8 shares |
| 2024-07-26 | WALTERS KIRK W Director · By Gus & Bonnie, LLC · Series H Perpetual Non-Cumulative Preferred Stock | Sold | —7.5k shares |
| 2024-07-24 | GEISEL GARY N Director | Sold | $86.2k500 shares |
| 2024-07-23 | SADLER ROBERT E JR Director · By Wife | Sold | $172.2k1.0k 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, Q3 2024
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.06% of their portfolio | 19.5m $3.5bn | Added +134.5k |
| JPMORGAN CHASE & CO 0.09% of their portfolio | 12.9m $2.3bn | Reduced -502.6k |
| BlackRock, Inc. 0.05% of their portfolio | 12.7m $2.3bn | First filing |
| FMR LLC 0.13% of their portfolio | 12.3m $2.2bn | Added +1.5m |
| WELLINGTON MANAGEMENT GROUP LLP 0.31% of their portfolio | 10.0m $1.8bn | Reduced -1.5m |
| STATE STREET CORP 0.06% of their portfolio | 8.8m $1.6bn | Added +527.9k |
| MORGAN STANLEY 0.07% of their portfolio | 5.6m $995.9m | Added +1.8m |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.17% of their portfolio | 5.0m $897.2m | Added +190.8k |
| GEODE CAPITAL MANAGEMENT, LLC 0.06% of their portfolio | 4.3m $768.8m | Added +66.3k |
| STATE FARM MUTUAL AUTOMOBILE INSURANCE CO 0.64% of their portfolio | 4.1m $734.3m | Unchanged |
| Invesco Ltd. 0.13% of their portfolio | 3.8m $678.3m | Added +67 |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.09% of their portfolio | 1.7m $305.7m | Reduced -65.8k |
| M&T Bank Corp 0.99% of their portfolio | 1.7m $302.3m | Reduced -755 |
| DIMENSIONAL FUND ADVISORS LP 0.07% of their portfolio | 1.6m $287.9m | Added +3.6k |
| NORGES BANK 0.04% of their portfolio | 1.6m $281.2m | Reduced -20.0k |
| FIRST TRUST ADVISORS LP 0.27% of their portfolio | 1.6m $280.1m | Reduced -157.1k |
| Bank of New York Mellon Corp 0.05% of their portfolio | 1.5m $266.5m | Reduced -17.2k |
| NORTHERN TRUST CORP 0.04% of their portfolio | 1.5m $261.5m | Reduced -80.6k |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC 0.77% of their portfolio | 1.3m $236.3m | Reduced -71.5k |
| Nuveen Asset Management, LLC 0.06% of their portfolio | 1.3m $228.2m | Added +226.5k |
| BANK OF AMERICA CORP /DE/ 0.02% of their portfolio | 1.2m $220.5m | Reduced -14.7k |
| LONDON CO OF VIRGINIA 1.12% of their portfolio | 1.2m $212.6m | Added +24.9k |
| GOLDMAN SACHS GROUP INC 0.04% of their portfolio | 1.1m $202.1m | Added +36.1k |
| MARSHALL WACE, LLP 0.23% of their portfolio | 982.2k $174.9m | Added +305.4k |
| Legal & General Group Plc 0.04% of their portfolio | 949.8k $169.2m | Reduced -13.4k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.04% of their portfolio | 933.6k $166.3m | Reduced -8.2k |
| LSV ASSET MANAGEMENT 0.35% of their portfolio | 913.9k $162.8m | Reduced -76.5k |
| Senvest Management, LLC 5.49% of their portfolio | 882.8k $157.3m | Added +96.5k |
| MENORA MIVTACHIM HOLDINGS LTD. 0.82% of their portfolio | 727.0k $129.5m | Reduced -143.5k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.09% of their portfolio | 600.0k $106.9m | Added +141.3k |
| LOS ANGELES CAPITAL MANAGEMENT LLC 0.43% of their portfolio | 593.0k $105.6m | Reduced -140.4k |
| Canoe Financial LP 2.48% of their portfolio | 588.3k $103.2m | Added +133.7k |
| BARCLAYS PLC 0.05% of their portfolio | 578.3k $103.0m | Added +97.4k |
| AMERIPRISE FINANCIAL INC 0.03% of their portfolio | 564.0k $100.5m | Reduced -132.5k |
| Amundi 0.04% of their portfolio | 562.6k $99.9m | Reduced -238.6k |
| WELLS FARGO & COMPANY/MN 0.02% of their portfolio | 559.0k $99.6m | Reduced -15.7k |
| Smead Capital Management, Inc. 1.25% of their portfolio | 493.8k $88.0m | Added +16.7k |
| ALLIANCEBERNSTEIN L.P. 0.03% of their portfolio | 490.0k $87.3m | Added +143.2k |
| Sumitomo Mitsui Trust Group, Inc. 0.06% of their portfolio | 467.8k $83.3m | Added +36.8k |
| HSBC HOLDINGS PLC 0.05% of their portfolio | 436.3k $77.7m | Added +98 |
| BANK OF MONTREAL /CAN/ 0.03% of their portfolio | 423.0k $74.2m | Reduced -22.2k |
| Clearbridge Investments, LLC 0.06% of their portfolio | 421.2k $75.0m | Added +67.7k |
| ROYAL BANK OF CANADA 0.02% of their portfolio | 412.7k $73.5m | Added +33.4k |
| STIFEL FINANCIAL CORP 0.07% of their portfolio | 393.6k $70.1m | Added +39.8k |
| UBS Group AG 0.02% of their portfolio | 390.3k $69.5m | Added +1.2k |
| DEUTSCHE BANK AG\ 0.03% of their portfolio | 389.6k $69.4m | Reduced -332.1k |
| DNB Asset Management AS 0.31% of their portfolio | 380.5k $67.8m | Added +350.9k |
| ANCHOR CAPITAL ADVISORS LLC 1.79% of their portfolio | 378.5k $67.4m | Reduced -13.1k |
| RNC CAPITAL MANAGEMENT LLC 3.15% of their portfolio | 375.2k $56.8m | Unchanged |
| COOKE & BIELER LP 0.60% of their portfolio | 369.6k $65.8m | Reduced -7.8k |
| Giverny Capital Inc. 2.44% of their portfolio | 360.6k $64.2m | Added +15.3k |
| Davis Asset Management, L.P. 2.46% of their portfolio | 345.0k $61.5m | Unchanged |
| FEDERATED HERMES, INC. 0.12% of their portfolio | 319.0k $56.8m | Added +199.0k |
| HUNTINGTON NATIONAL BANK 0.41% of their portfolio | 314.1k $55.9m | Added +30.1k |
| BNP PARIBAS FINANCIAL MARKETS 0.05% of their portfolio | 306.6k $54.6m | Added +126.7k |
| RHUMBLINE ADVISERS 0.05% of their portfolio | 304.9k $54.3m | Reduced -12.5k |
| Artisan Partners Limited Partnership 0.08% of their portfolio | 303.0k $54.0m | Reduced -79.8k |
| California Public Employees Retirement System 0.04% of their portfolio | 298.7k $53.2m | Reduced -870 |
| Junto Capital Management LP 1.17% of their portfolio | 291.2k $51.9m | Reduced -175.9k |
| KBC Group NV 0.15% of their portfolio | 286.8k $51.1m | Reduced -157.8k |
| Invenomic Capital Management LP 2.77% of their portfolio | 281.8k $50.2m | Added +98.9k |
| National Pension Service 0.05% of their portfolio | 268.1k $47.8m | Added +13.3k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.05% of their portfolio | 260.3k $46.4m | Reduced -1.3k |
| Zurich Insurance Group Ltd/FI 0.38% of their portfolio | 249.4k $44.4m | New |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.05% of their portfolio | 248.2k $44.2m | Added +20.4k |
| MEAG MUNICH ERGO, Kapitalanlagegesellschaft mbH 1.37% of their portfolio | 246.0k $43.8m | Reduced -50.6k |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 242.1k $43.1m | Added +849 |
| ABSHER WEALTH MANAGEMENT, LLC 5.52% of their portfolio | 240.1k $42.8m | Reduced -95.9k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 234.3k $41.7m | Reduced -60.5k |
| Rafferty Asset Management, LLC 0.14% of their portfolio | 227.3k $40.5m | Added +78.9k |
| CITIGROUP INC 0.03% of their portfolio | 199.1k $35.5m | Reduced -7.0k |
| PRINCIPAL FINANCIAL GROUP INC 0.02% of their portfolio | 199.1k $35.5m | Added +2.8k |
| BERKSHIRE ASSET MANAGEMENT LLC/PA 1.51% of their portfolio | 196.4k $29.7m | Unchanged |
| NATIXIS ADVISORS, LLC 0.07% of their portfolio | 195.9k $34.9m | Added +18.3k |
| Polaris Capital Management, LLC 1.68% of their portfolio | 191.9k $34.2m | Added +3.0k |
| CRAWFORD INVESTMENT COUNSEL INC 0.58% of their portfolio | 190.0k $33.8m | Reduced -79.2k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.03% of their portfolio | 183.7k $32.2m | Reduced -8.8k |
| Advisors Capital Management, LLC 0.53% of their portfolio | 183.3k $32.6m | Reduced -42.3k |
| VICTORY CAPITAL MANAGEMENT INC 0.03% of their portfolio | 182.8k $32.6m | Reduced -1.3k |
| Ensign Peak Advisors, Inc 0.06% of their portfolio | 178.5k $31.8m | Added +72.2k |
| TOCQUEVILLE ASSET MANAGEMENT L.P. 0.47% of their portfolio | 169.1k $30.1m | Added +3.6k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.06% of their portfolio | 155.7k $27.7m | Reduced -2.6k |
| Vest Financial, LLC 0.52% of their portfolio | 150.5k $26.8m | Added +1.9k |
| Ruffer LLP 0.78% of their portfolio | 139.3k $24.8m | Reduced -13.2k |
| WESTFIELD CAPITAL MANAGEMENT CO LP 0.11% of their portfolio | 138.9k $24.7m | New |
| STRS OHIO 0.09% of their portfolio | 135.3k $24.1m | Added +122.8k |
| Candriam S.C.A. 0.14% of their portfolio | 133.2k $23.7m | Reduced -23.4k |
| CANADA LIFE ASSURANCE Co 0.04% of their portfolio | 128.9k $23.0m | Added +5.9k |
| AGF MANAGEMENT LTD 0.11% of their portfolio | 126.0k $22.4m | Reduced -38.3k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.03% of their portfolio | 125.9k $22.4m | Reduced -42.0k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.04% of their portfolio | 122.3k $21.8m | Added +2.4k |
| NATIONAL BANK OF CANADA /FI/ 0.03% of their portfolio | 119.4k $21.3m | Reduced -16.5k |
| PRUDENTIAL FINANCIAL INC 0.03% of their portfolio | 114.7k $20.4m | Reduced -4.6k |
| Mirae Asset Global Investments Co., Ltd. 0.09% of their portfolio | 111.8k $19.6m | Added +13.4k |
| INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC 0.00% of their portfolio | 110.2k $618 | Added +109.5k |
| LPL Financial LLC 0.01% of their portfolio | 109.9k $19.6m | Added +4.9k |
| AQR CAPITAL MANAGEMENT LLC 0.03% of their portfolio | 107.9k $18.9m | Reduced -20.2k |
| GENERAL AMERICAN INVESTORS CO INC 1.25% of their portfolio | 101.1k $18.0m | Unchanged |
| OPPENHEIMER ASSET MANAGEMENT INC. 0.22% of their portfolio | 100.4k $17.9m | Reduced -4.1k |
| SPEECE THORSON CAPITAL GROUP INC 3.30% of their portfolio | 100.4k $17.9m | Reduced -18.0k |