16,244 Shares in M&T Bank Co. (NYSE:MTB) Bought by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd purchased a new stake in shares of M&T Bank Co. (NYSE:MTB) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 16,244 shares of the financial services provider’s stock, valued at approximately $2,227,000.

Other large investors have also made changes to their positions in the company. Invesco Ltd. boosted its position in shares of M&T Bank by 15.5% during the third quarter. Invesco Ltd. now owns 4,840,950 shares of the financial services provider’s stock worth $612,138,000 after acquiring an additional 650,796 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of M&T Bank by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,595,687 shares of the financial services provider’s stock valued at $454,675,000 after purchasing an additional 41,790 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of M&T Bank by 0.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,730,853 shares of the financial services provider’s stock worth $237,265,000 after purchasing an additional 4,419 shares during the last quarter. Norges Bank bought a new position in M&T Bank during the fourth quarter valued at approximately $232,322,000. Finally, Northern Trust Corp increased its stake in M&T Bank by 3.7% in the 3rd quarter. Northern Trust Corp now owns 1,671,837 shares of the financial services provider’s stock worth $211,404,000 after acquiring an additional 59,690 shares during the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at M&T Bank

In other M&T Bank news, Director John P. Barnes sold 43,426 shares of M&T Bank stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $154.50, for a total value of $6,709,317.00. Following the transaction, the director now owns 35,480 shares in the company, valued at $5,481,660. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other M&T Bank news, Director John P. Barnes sold 43,426 shares of M&T Bank stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $154.50, for a total value of $6,709,317.00. Following the transaction, the director now directly owns 35,480 shares of the company’s stock, valued at $5,481,660. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Doris P. Meister sold 3,961 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $143.60, for a total value of $568,799.60. Following the transaction, the executive vice president now directly owns 5,000 shares in the company, valued at $718,000. The disclosure for this sale can be found here. In the last three months, insiders sold 130,359 shares of company stock valued at $19,475,472. Corporate insiders own 0.82% of the company’s stock.

M&T Bank Stock Up 0.2 %

Shares of M&T Bank stock traded up $0.33 during trading on Friday, hitting $149.84. 42,339 shares of the stock traded hands, compared to its average volume of 1,093,700. M&T Bank Co. has a 52-week low of $108.53 and a 52-week high of $156.65. The stock’s fifty day simple moving average is $145.08 and its 200 day simple moving average is $138.15. The firm has a market cap of $25.00 billion, a P/E ratio of 10.11, a price-to-earnings-growth ratio of 3.00 and a beta of 0.78. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.46.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results 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 business had revenue of $2.26 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm posted $4.09 EPS. On average, equities analysts predict that M&T Bank Co. will post 14.02 earnings per share for the current fiscal year.

M&T Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 3rd will be issued a $1.35 dividend. The ex-dividend date is Monday, June 3rd. This is an increase from M&T Bank’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.60%. M&T Bank’s dividend payout ratio (DPR) is currently 35.16%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MTB. JPMorgan Chase & Co. raised their target price 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. Evercore ISI boosted their target price 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. Bank of America increased their price target on shares of M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. StockNews.com cut M&T Bank from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Finally, Jefferies Financial Group decreased their price objective on M&T Bank from $154.00 to $151.00 and set a “hold” rating on the stock in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, M&T Bank currently has a consensus rating of “Hold” and an average price target of $158.48.

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.