Sumitomo Mitsui DS Asset Management Company Ltd Purchases 293 Shares of M&T Bank Co. (NYSE:MTB)

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of M&T Bank Co. (NYSE:MTB) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,345 shares of the financial services provider’s stock after purchasing an additional 293 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in M&T Bank were worth $2,103,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Signaturefd LLC grew its holdings in M&T Bank by 7.8% during the fourth quarter. Signaturefd LLC now owns 1,648 shares of the financial services provider’s stock valued at $226,000 after purchasing an additional 119 shares during the period. abrdn plc boosted its holdings in shares of M&T Bank by 78.0% in the fourth quarter. abrdn plc now owns 72,860 shares of the financial services provider’s stock worth $9,988,000 after acquiring an additional 31,930 shares during the period. Wetzel Investment Advisors Inc. bought a new position in shares of M&T Bank in the fourth quarter worth $34,000. Naples Money Management LLC bought a new position in shares of M&T Bank in the fourth quarter worth $2,260,000. Finally, Xponance Inc. boosted its holdings in shares of M&T Bank by 0.5% in the fourth quarter. Xponance Inc. now owns 21,906 shares of the financial services provider’s stock worth $3,003,000 after acquiring an additional 112 shares during the period. 84.68% of the stock is owned by institutional investors.

Insider Transactions at M&T Bank

In other news, EVP Doris P. Meister sold 1,675 shares of M&T Bank stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $137.91, for a total value of $230,999.25. Following the transaction, the executive vice president now owns 8,961 shares in the company, valued at $1,235,811.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Doris P. Meister sold 1,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $132.30, for a total transaction of $132,300.00. Following the transaction, the executive vice president now owns 7,274 shares in the company, valued at approximately $962,350.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Doris P. Meister sold 1,675 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $137.91, for a total value of $230,999.25. Following the transaction, the executive vice president now owns 8,961 shares in the company, valued at approximately $1,235,811.51. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,119 shares of company stock worth $5,341,012. Company insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on MTB shares. Jefferies Financial Group cut their price target on M&T Bank from $154.00 to $151.00 and set a “hold” rating for the company in a report on Monday, April 8th. DA Davidson reaffirmed a “neutral” rating and issued a $159.00 price target on shares of M&T Bank in a report on Tuesday, April 16th. Barclays raised their price target on M&T Bank from $150.00 to $170.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. UBS Group raised their price target on M&T Bank from $139.00 to $154.00 in a report on Wednesday, January 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $160.00 price objective 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 given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $158.48.

M&T Bank Trading Up 0.7 %

Shares of MTB stock opened at $147.96 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average price of $140.66 and a two-hundred day moving average price of $133.54. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $148.23. The firm has a market cap of $24.65 billion, a P/E ratio of 10.00, a price-to-earnings-growth ratio of 1.23 and a beta of 0.80.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11). The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate 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 firm earned $4.09 EPS. Equities analysts anticipate that M&T Bank Co. will post 13.92 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were issued a $1.30 dividend. The ex-dividend date was Friday, March 1st. This represents a $5.20 annualized dividend and a dividend yield of 3.51%. M&T Bank’s dividend payout ratio is currently 35.16%.

M&T Bank Profile

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.