Tokio Marine Asset Management Co. Ltd. Raises Stake in M&T Bank Co. (NYSE:MTB)

Tokio Marine Asset Management Co. Ltd. raised its position in M&T Bank Co. (NYSE:MTB) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,155 shares of the financial services provider’s stock after acquiring an additional 170 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in M&T Bank were worth $570,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. BKM Wealth Management LLC purchased a new position in M&T Bank in the fourth quarter worth approximately $32,000. Headinvest LLC purchased a new position in M&T Bank in the third quarter worth approximately $29,000. CVA Family Office LLC purchased a new position in M&T Bank in the fourth quarter worth approximately $33,000. Planned Solutions Inc. acquired a new stake in M&T Bank during the fourth quarter worth approximately $33,000. Finally, Creative Financial Designs Inc. ADV acquired a new stake in M&T Bank during the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MTB. Evercore ISI raised their price objective on shares of M&T Bank from $146.00 to $157.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. 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 report on Tuesday, April 16th. Wedbush reissued an “outperform” rating and set a $170.00 price objective on shares of M&T Bank in a report on Wednesday, April 10th. Jefferies Financial Group cut their price objective on shares of M&T Bank from $154.00 to $151.00 and set a “hold” rating on the stock in a report on Monday, April 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $160.00 price objective on shares of M&T Bank in a report on Tuesday, April 16th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $158.48.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 6,367 shares of the company’s stock, valued at approximately $923,215. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 7,274 shares in the company, valued at approximately $962,350.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kirk W. Walters sold 28,845 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the sale, the director now owns 6,367 shares in the company, valued at $923,215. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,119 shares of company stock valued at $5,341,012. 0.82% of the stock is owned by company insiders.

M&T Bank Stock Performance

Shares of MTB opened at $146.38 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.94. The stock has a market capitalization of $24.39 billion, a P/E ratio of 9.90, a P/E/G ratio of 1.22 and a beta of 0.80. The company’s fifty day moving average is $141.00 and its two-hundred day moving average is $133.82. M&T Bank Co. has a 1 year low of $108.53 and a 1 year high of $148.93.

M&T Bank (NYSE:MTB) last announced 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 firm had revenue of $2.26 billion during the quarter, compared to analyst estimates 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 prior year, the firm posted $4.09 earnings per share. On average, sell-side analysts predict that M&T Bank Co. will post 13.92 earnings per share for the current year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were paid a $1.30 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 annualized dividend and a yield of 3.55%. M&T Bank’s dividend payout ratio is currently 35.16%.

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.