Daiwa Securities Group Inc. Has $2.01 Million Position in M&T Bank Co. (NYSE:MTB)

Daiwa Securities Group Inc. raised its stake in M&T Bank Co. (NYSE:MTB) by 6.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,651 shares of the financial services provider’s stock after acquiring an additional 930 shares during the period. Daiwa Securities Group Inc.’s holdings in M&T Bank were worth $2,008,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MTB. Invesco Ltd. raised its holdings in M&T Bank by 15.5% in the 3rd quarter. Invesco Ltd. now owns 4,840,950 shares of the financial services provider’s stock valued at $612,138,000 after acquiring an additional 650,796 shares in the last quarter. LSV Asset Management raised its holdings in M&T Bank by 63.5% in the 3rd quarter. LSV Asset Management now owns 1,108,552 shares of the financial services provider’s stock valued at $140,176,000 after acquiring an additional 430,356 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in M&T Bank by 29.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,726,434 shares of the financial services provider’s stock valued at $218,308,000 after acquiring an additional 393,116 shares in the last quarter. Senvest Management LLC raised its holdings in M&T Bank by 279.6% in the 3rd quarter. Senvest Management LLC now owns 426,700 shares of the financial services provider’s stock valued at $53,956,000 after acquiring an additional 314,300 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of M&T Bank by 20.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,613,660 shares of the financial services provider’s stock valued at $204,047,000 after purchasing an additional 270,819 shares during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

M&T Bank Stock Performance

Shares of M&T Bank stock opened at $145.69 on Tuesday. The company has a market cap of $24.27 billion, a PE ratio of 9.85, a price-to-earnings-growth ratio of 1.19 and a beta of 0.80. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $148.23. The business has a 50 day moving average price of $140.14 and a 200-day moving average price of $133.28. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing the consensus estimate of $3.13 by ($0.11). The company had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same period last year, the company earned $4.09 earnings per share. Equities analysts anticipate that M&T Bank Co. will post 13.98 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date was Friday, March 1st. M&T Bank’s payout ratio is 35.16%.

Insider Activity at M&T Bank

In related news, EVP Doris P. Meister sold 1,675 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $137.91, for a total transaction of $230,999.25. Following the completion of the sale, the executive vice president now directly owns 8,961 shares of the company’s stock, valued at $1,235,811.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other M&T Bank news, EVP Doris P. Meister sold 1,638 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total value of $226,387.98. Following the completion of the sale, the executive vice president now directly owns 3,362 shares of the company’s stock, valued at $464,662.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Doris P. Meister sold 1,675 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $137.91, for a total value of $230,999.25. Following the completion of the sale, the executive vice president now directly owns 8,961 shares of the company’s stock, valued at $1,235,811.51. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,119 shares of company stock valued at $5,341,012. 0.82% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MTB shares. DA Davidson reiterated a “neutral” rating and issued a $159.00 price target on shares of M&T Bank in a research note on Tuesday, April 16th. UBS Group lifted their price target on M&T Bank from $139.00 to $154.00 in a research note on Wednesday, January 17th. JPMorgan Chase & Co. lifted their price target on M&T Bank from $170.00 to $180.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Jefferies Financial Group decreased their price target on M&T Bank from $154.00 to $151.00 and set a “hold” rating on the stock in a research note on Monday, April 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $160.00 price target on shares of M&T Bank in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, M&T Bank has a consensus rating of “Hold” and a consensus price target of $158.48.

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.