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

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of M&T Bank Co. (NYSE:MTB) by 1.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in MTB. CWM LLC boosted its holdings in shares of M&T Bank by 6.1% during the 3rd quarter. CWM LLC now owns 5,059 shares of the financial services provider’s stock valued at $640,000 after purchasing an additional 292 shares during the last quarter. AE Wealth Management LLC lifted its holdings in shares of M&T Bank by 60.6% in the 3rd quarter. AE Wealth Management LLC now owns 6,165 shares of the financial services provider’s stock valued at $780,000 after acquiring an additional 2,327 shares during the last quarter. HB Wealth Management LLC bought a new position in shares of M&T Bank in the 3rd quarter valued at about $219,000. Avior Wealth Management LLC lifted its holdings in shares of M&T Bank by 852.9% in the 3rd quarter. Avior Wealth Management LLC now owns 324 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 290 shares during the last quarter. Finally, Caprock Group LLC lifted its holdings in shares of M&T Bank by 4.0% in the 3rd quarter. Caprock Group LLC now owns 6,063 shares of the financial services provider’s stock valued at $767,000 after acquiring an additional 233 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

Insider Activity at M&T Bank

In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the sale, the director now directly owns 6,367 shares in the company, valued at $923,215. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the sale, the director now directly owns 6,367 shares in the company, valued at $923,215. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Doris P. Meister sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $132.30, for a total transaction of $132,300.00. Following the completion of the sale, the executive vice president now owns 7,274 shares of the company’s stock, valued at $962,350.20. The disclosure for this sale can be found here. Insiders have sold a total of 37,119 shares of company stock valued at $5,341,012 over the last ninety days. 0.82% of the stock is owned by company insiders.

M&T Bank Stock Performance

Shares of NYSE:MTB opened at $147.96 on Thursday. The firm has a market cap of $24.65 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 1.23 and a beta of 0.80. The firm’s 50 day simple moving average is $140.66 and its 200-day simple moving average is $133.54. M&T Bank Co. has a one year low of $108.53 and a one year high of $148.23. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.94.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data 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 business had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same period in the previous year, the business earned $4.09 earnings per share. As a group, equities analysts predict that M&T Bank Co. will post 13.92 EPS for the current year.

M&T Bank Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages recently commented on MTB. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $160.00 price target on shares of M&T Bank in a report on Tuesday, April 16th. Barclays increased their price target on shares of M&T Bank from $150.00 to $170.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. JPMorgan Chase & Co. increased their price target on shares of M&T Bank from $170.00 to $180.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Jefferies Financial Group decreased their price objective on shares of M&T Bank from $154.00 to $151.00 and set a “hold” rating for the company in a research note on Monday, April 8th. Finally, Wells Fargo & Company raised their price objective on shares of M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 16th. One investment 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $158.48.

M&T Bank Company 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.