M&T Bank Co. (NYSE:MTB) Stock Holdings Increased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of M&T Bank Co. (NYSE:MTB) by 2.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 18,176 shares of the financial services provider’s stock after purchasing an additional 482 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in M&T Bank were worth $3,417,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Atomi Financial Group Inc. acquired a new position in shares of M&T Bank in the 3rd quarter worth $252,000. CWM LLC increased its stake in M&T Bank by 9.1% in the 3rd quarter. CWM LLC now owns 6,107 shares of the financial services provider’s stock worth $1,088,000 after purchasing an additional 511 shares in the last quarter. UMB Bank n.a. raised its holdings in M&T Bank by 25.1% during the 3rd quarter. UMB Bank n.a. now owns 589 shares of the financial services provider’s stock worth $105,000 after buying an additional 118 shares during the period. LVW Advisors LLC purchased a new stake in M&T Bank during the third quarter valued at about $260,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of M&T Bank by 384.6% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,008 shares of the financial services provider’s stock worth $180,000 after buying an additional 800 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MTB. DA Davidson boosted their price target on shares of M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Bank of America raised their target price on M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Barclays lifted their price target on M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Compass Point raised their price objective on M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, Evercore ISI upped their target price on M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $221.68.

M&T Bank Stock Down 0.7 %

MTB stock opened at $200.59 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The firm has a market cap of $33.28 billion, a PE ratio of 13.71, a PEG ratio of 1.42 and a beta of 0.79. M&T Bank Co. has a 1 year low of $129.36 and a 1 year high of $225.70. The company has a fifty day simple moving average of $197.10 and a 200 day simple moving average of $188.04.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.70 by $0.22. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same quarter in the prior year, the firm posted $2.74 earnings per share. Sell-side analysts anticipate that M&T Bank Co. will post 16.56 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend was Monday, December 2nd. M&T Bank’s dividend payout ratio is 36.91%.

M&T Bank announced that its board has authorized a stock repurchase plan on Wednesday, January 22nd that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Transactions at M&T Bank

In related news, Director John P. Barnes sold 20,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $217.45, for a total transaction of $4,349,000.00. Following the completion of the transaction, the director now owns 35,480 shares of the company’s stock, valued at approximately $7,715,126. The trade was a 36.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Tracy S. Woodrow sold 2,121 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total value of $468,210.75. Following the sale, the executive vice president now owns 5,141 shares of the company’s stock, valued at approximately $1,134,875.75. The trade was a 29.21 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,397 shares of company stock worth $6,379,459. 0.82% of the stock is owned by insiders.

M&T Bank Company Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management and investment services. It operates through the following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.