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 ($52.0m this quarter). Holder counts are more reliable. Shares outstanding: 160.5m as of 2025-05-01, 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 ≈ $178.64. Options: 23 managers hold calls ($97.6m notional), 16 hold puts ($44.4m).
Trends to Q1 2025
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 |
| Q4 2024 | 1,049 |
| Q1 2025 | 1,041 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2023 | 360 | 412 |
| Q3 2023 | 338 | 389 |
| Q4 2023 | 380 | 391 |
| Q1 2024 | 376 | 434 |
| Q2 2024 | 431 | 376 |
| Q3 2024 | 435 | 416 |
| Q4 2024 | 479 | 413 |
| Q1 2025 | 475 | 474 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2024 | $145.7m | $68.5m | 0.47 |
| Q3 2024 | $153.9m | $96.6m | 0.63 |
| Q4 2024 | $103.8m | $101.5m | 0.98 |
| Q1 2025 | $97.6m | $44.4m | 0.45 |
Biggest buyers
| WELLINGTON MANAGEMENT GROUP LLP | Added | +2.5m |
| VIKING GLOBAL INVESTORS LP | New | +746.3k |
| NORGES BANK | Added | +496.9k |
| Invesco Ltd. | Added | +468.8k |
| BANK OF AMERICA CORP /DE/ | Added | +353.1k |
| MORGAN STANLEY | Added | +346.1k |
| HRT FINANCIAL LP | Added | +283.4k |
| Brandywine Global Investment Management, LLC | Added | +278.2k |
| MILLENNIUM MANAGEMENT LLC | Added | +269.4k |
| JANE STREET GROUP, LLC | Added | +223.2k |
Biggest sellers
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | Reduced | -4.3m |
| FMR LLC | Reduced | -2.1m |
| STATE STREET CORP | Reduced | -968.9k |
| Senvest Management, LLC | Sold out | -819.8k |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC | Reduced | -635.2k |
| Amundi | Reduced | -342.6k |
| JPMORGAN CHASE & CO | Reduced | -279.8k |
| DNB Asset Management AS | Reduced | -245.2k |
| Lansforsakringar Fondforvaltning AB (publ) | Reduced | -241.6k |
| WESTFIELD CAPITAL MANAGEMENT CO LP | Reduced | -213.2k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $30.1m168.6k shares |
| GARDA CAPITAL PARTNERS LP | Added | $9.7m54.0k shares |
| JANE STREET GROUP, LLC | Added | $9.3m51.9k shares |
| CITADEL ADVISORS LLC | Reduced | $8.9m49.6k shares |
| GROUP ONE TRADING LLC | Added | $6.6m37.1k shares |
| BNP PARIBAS FINANCIAL MARKETS | First filing | $5.9m331 shares |
| SIMPLEX TRADING, LLC | Added | $4.6m25.9k shares |
| NOMURA HOLDINGS INC | Added | $4.2m23.6k shares |
| WOLVERINE TRADING, LLC | Reduced | $3.5m19.8k shares |
| IMC-Chicago, LLC | Reduced | $3.2m17.7k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $15.1m84.6k shares |
| WOLVERINE TRADING, LLC | Added | $6.1m34.6k shares |
| BNP PARIBAS FINANCIAL MARKETS | First filing | $5.9m331 shares |
| CITIGROUP INC | New | $4.1m23.0k shares |
| CITADEL ADVISORS LLC | Reduced | $2.8m15.9k shares |
| JANE STREET GROUP, LLC | Reduced | $2.6m14.3k shares |
| Squarepoint Ops LLC | Reduced | $1.9m10.8k shares |
| Walleye Trading LLC | Reduced | $1.5m8.6k shares |
| Cubist Systematic Strategies, LLC | Added | $1.1m6.0k shares |
| CAPSTONE INVESTMENT ADVISORS, LLC | Reduced | $1.1m5.9k 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 2025
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 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 | — |
| Q4 2024 | 0 | — | 12 | $25.9m | — |
| Q1 2025 | 0 | — | 1 | $299.5k | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-03-12 | KAY CHRISTOPHER E Sr. Executive Vice President | Sold | $299.5k1.7k 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 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.06% of their portfolio | 19.5m $3.5bn | Reduced -16.8k |
| BlackRock, Inc. 0.05% of their portfolio | 13.3m $2.4bn | Added +134.5k |
| FMR LLC 0.14% of their portfolio | 12.0m $2.1bn | Reduced -2.1m |
| WELLINGTON MANAGEMENT GROUP LLP 0.34% of their portfolio | 9.9m $1.8bn | Added +2.5m |
| STATE STREET CORP 0.06% of their portfolio | 8.1m $1.4bn | Reduced -968.9k |
| JPMORGAN CHASE & CO 0.08% of their portfolio | 5.8m $1.0bn | Reduced -279.8k |
| MORGAN STANLEY 0.07% of their portfolio | 5.8m $1.0bn | Added +346.1k |
| GEODE CAPITAL MANAGEMENT, LLC 0.06% of their portfolio | 4.4m $791.8m | Added +72.5k |
| STATE FARM MUTUAL AUTOMOBILE INSURANCE CO 0.68% of their portfolio | 4.1m $736.9m | Unchanged |
| Invesco Ltd. 0.12% of their portfolio | 3.6m $635.0m | Added +468.8k |
| NORGES BANK 0.05% of their portfolio | 2.2m $390.9m | Added +496.9k |
| NORTHERN TRUST CORP 0.05% of their portfolio | 1.7m $307.7m | Added +38.1k |
| DIMENSIONAL FUND ADVISORS LP 0.07% of their portfolio | 1.6m $287.9m | Added +12.6k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.09% of their portfolio | 1.5m $269.1m | Reduced -183.4k |
| M&T Bank Corp 0.97% of their portfolio | 1.5m $265.9m | Reduced -1.8k |
| Bank of New York Mellon Corp 0.05% of their portfolio | 1.4m $257.8m | Added +30.6k |
| FIRST TRUST ADVISORS LP 0.22% of their portfolio | 1.4m $250.6m | Reduced -203.9k |
| Nuveen, LLC 0.07% of their portfolio | 1.4m $243.5m | First filing |
| UBS Group AG 0.05% of their portfolio | 1.2m $220.6m | Added +70.1k |
| BANK OF AMERICA CORP /DE/ 0.02% of their portfolio | 1.2m $207.7m | Added +353.1k |
| LONDON CO OF VIRGINIA 1.16% of their portfolio | 1.1m $203.5m | Reduced -48.2k |
| GOLDMAN SACHS GROUP INC 0.04% of their portfolio | 1.1m $196.2m | Added +187.8k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.05% of their portfolio | 1.0m $187.1m | Reduced -42.5k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.03% of their portfolio | 1.0m $183.8m | Reduced -4.3m |
| Legal & General Group Plc 0.05% of their portfolio | 1.0m $179.3m | Added +16.7k |
| MENORA MIVTACHIM HOLDINGS LTD. 0.90% of their portfolio | 773.1k $138.2m | Unchanged |
| VIKING GLOBAL INVESTORS LP 0.42% of their portfolio | 746.3k $133.4m | New |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC 0.44% of their portfolio | 672.2k $120.2m | Reduced -635.2k |
| DEUTSCHE BANK AG\ 0.04% of their portfolio | 586.0k $104.8m | Added +99.0k |
| LOS ANGELES CAPITAL MANAGEMENT LLC 0.45% of their portfolio | 575.1k $102.8m | Reduced -29.3k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.10% of their portfolio | 563.5k $100.7m | Reduced -15.0k |
| MARSHALL WACE, LLP 0.13% of their portfolio | 550.5k $98.4m | Reduced -67.6k |
| BARCLAYS PLC 0.04% of their portfolio | 510.2k $91.2m | Added +93.8k |
| WELLS FARGO & COMPANY/MN 0.02% of their portfolio | 505.7k $90.4m | Added +26.7k |
| ALLIANCEBERNSTEIN L.P. 0.03% of their portfolio | 472.0k $84.4m | Added +15.0k |
| HSBC HOLDINGS PLC 0.06% of their portfolio | 465.4k $83.0m | Added +11.7k |
| Amundi 0.03% of their portfolio | 464.7k $75.9m | Reduced -342.6k |
| Sumitomo Mitsui Trust Group, Inc. 0.06% of their portfolio | 449.9k $80.4m | Added +24.8k |
| Smead Capital Management, Inc. 1.35% of their portfolio | 440.4k $78.7m | Reduced -41.7k |
| HUNTINGTON NATIONAL BANK 0.55% of their portfolio | 428.5k $76.6m | Added +41.0k |
| Clearbridge Investments, LLC 0.06% of their portfolio | 411.5k $73.6m | Reduced -27.1k |
| BANK OF MONTREAL /CAN/ 0.04% of their portfolio | 411.5k $73.6m | Added +7.8k |
| AMERIPRISE FINANCIAL INC 0.02% of their portfolio | 402.8k $72.4m | Reduced -101.1k |
| JANE STREET GROUP, LLC 0.13% of their portfolio | 396.1k $70.8m | Added +223.2k |
| FEDERATED HERMES, INC. 0.15% of their portfolio | 393.2k $70.3m | Reduced -47.9k |
| STIFEL FINANCIAL CORP 0.07% of their portfolio | 378.5k $67.7m | Reduced -15.9k |
| MILLENNIUM MANAGEMENT LLC 0.06% of their portfolio | 370.1k $66.2m | Added +269.4k |
| Giverny Capital Inc. 2.42% of their portfolio | 367.5k $65.7m | Reduced -49 |
| RNC CAPITAL MANAGEMENT LLC 3.30% of their portfolio | 362.0k $64.7m | Reduced -643 |
| Brandywine Global Investment Management, LLC 0.45% of their portfolio | 349.5k $62.5m | Added +278.2k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 348.7k $62.3m | Reduced -31.1k |
| ANCHOR CAPITAL ADVISORS LLC 1.83% of their portfolio | 343.8k $61.5m | Reduced -5.4k |
| Davis Asset Management, L.P. 2.42% of their portfolio | 325.0k $58.1m | Unchanged |
| RHUMBLINE ADVISERS 0.05% of their portfolio | 317.8k $56.8m | Added +18.5k |
| AGF MANAGEMENT LTD 0.30% of their portfolio | 313.2k $56.0m | Added +144.4k |
| BNP PARIBAS FINANCIAL MARKETS 0.04% of their portfolio | 310.5k $55.5m | First filing |
| LSV ASSET MANAGEMENT 0.13% of their portfolio | 294.9k $52.7m | Reduced -152.8k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.05% of their portfolio | 292.6k $52.3m | Added +29.0k |
| California Public Employees Retirement System 0.04% of their portfolio | 291.8k $52.2m | Reduced -3.2k |
| HRT FINANCIAL LP 0.37% of their portfolio | 289.4k $51.7m | Added +283.4k |
| COOKE & BIELER LP 0.48% of their portfolio | 270.1k $48.3m | Added +47.6k |
| ENVESTNET ASSET MANAGEMENT INC 0.02% of their portfolio | 268.9k $48.1m | Added +38.9k |
| D. E. Shaw & Co., Inc. 0.06% of their portfolio | 265.3k $47.4m | Added +5.0k |
| CITIGROUP INC 0.04% of their portfolio | 262.0k $46.8m | Reduced -145.4k |
| National Pension Service 0.04% of their portfolio | 255.5k $45.7m | Added +11.3k |
| BERKSHIRE ASSET MANAGEMENT LLC/PA 2.08% of their portfolio | 244.9k $43.5m | Added +54.9k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.05% of their portfolio | 243.6k $43.5m | Reduced -2.5k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.01% of their portfolio | 240.8k $43.0m | Added +7.3k |
| ABSHER WEALTH MANAGEMENT, LLC 5.42% of their portfolio | 231.1k $41.3m | Added +33.3k |
| CANADA LIFE ASSURANCE Co 0.07% of their portfolio | 228.4k $40.9m | Added +17.9k |
| Lansforsakringar Fondforvaltning AB (publ) 0.24% of their portfolio | 216.9k $38.8m | Reduced -241.6k |
| MEAG MUNICH ERGO, Kapitalanlagegesellschaft mbH 1.12% of their portfolio | 212.7k $38.0m | New |
| AQR CAPITAL MANAGEMENT LLC 0.04% of their portfolio | 206.7k $36.2m | Added +35.0k |
| PRINCIPAL FINANCIAL GROUP INC 0.02% of their portfolio | 194.7k $34.8m | Reduced -543 |
| NATIXIS ADVISORS, LLC 0.06% of their portfolio | 187.4k $33.5m | Added +11.7k |
| SAPIENT CAPITAL LLC 0.65% of their portfolio | 185.1k $33.1m | Added +767 |
| Advisors Capital Management, LLC 0.51% of their portfolio | 185.0k $33.1m | Added +2.9k |
| LGT CAPITAL PARTNERS LTD. 1.46% of their portfolio | 184.5k $33.0m | Reduced -597 |
| KBC Group NV 0.10% of their portfolio | 178.0k $31.8m | Reduced -8.8k |
| VICTORY CAPITAL MANAGEMENT INC 0.03% of their portfolio | 177.8k $31.8m | Reduced -4.2k |
| TWO SIGMA INVESTMENTS, LP 0.07% of their portfolio | 172.9k $30.9m | Added +135.1k |
| Artisan Partners Limited Partnership 0.05% of their portfolio | 169.9k $30.4m | Added +1.1k |
| PRUDENTIAL FINANCIAL INC 0.04% of their portfolio | 168.0k $30.0m | Added +18.3k |
| Polaris Capital Management, LLC 1.70% of their portfolio | 166.3k $29.7m | Reduced -23.0k |
| STRS OHIO 0.12% of their portfolio | 165.4k $29.6m | Reduced -775 |
| Ensign Peak Advisors, Inc 0.06% of their portfolio | 164.4k $29.4m | Added +950 |
| Vest Financial, LLC 0.45% of their portfolio | 161.8k $28.9m | Reduced -11.3k |
| Qube Research & Technologies Ltd 0.04% of their portfolio | 159.9k $28.6m | Reduced -64.4k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.03% of their portfolio | 157.9k $27.7m | Reduced -26 |
| TOCQUEVILLE ASSET MANAGEMENT L.P. 0.45% of their portfolio | 154.7k $27.7m | Reduced -14.5k |
| Russell Investments Group, Ltd. 0.04% of their portfolio | 154.5k $27.6m | Added +81.2k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.06% of their portfolio | 147.0k $26.3m | Reduced -5.4k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.06% of their portfolio | 146.5k $26.2m | Reduced -21 |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.05% of their portfolio | 129.6k $23.2m | Added +2.3k |
| Squarepoint Ops LLC 0.06% of their portfolio | 129.3k $23.1m | Added +6.6k |
| Caisse de depot et placement du Quebec 0.05% of their portfolio | 128.7k $23.0m | Added +89.9k |
| Rafferty Asset Management, LLC 0.10% of their portfolio | 125.1k $22.4m | Reduced -65.8k |
| LPL Financial LLC 0.01% of their portfolio | 121.9k $21.8m | Added +7.8k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.03% of their portfolio | 119.7k $21.4m | Reduced -900 |
| Verition Fund Management LLC 0.12% of their portfolio | 118.6k $21.2m | Added +36.7k |