Meiji Yasuda Asset Management Co Ltd. Has $1.16 Million Stock Position in M&T Bank Co. (NYSE:MTB)

Meiji Yasuda Asset Management Co Ltd. grew its holdings in M&T Bank Co. (NYSE:MTB) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,176 shares of the financial services provider’s stock after purchasing an additional 142 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in M&T Bank were worth $1,161,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MTB. Sanctuary Advisors LLC boosted its stake in M&T Bank by 0.3% in the fourth quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider’s stock valued at $3,195,000 after acquiring an additional 52 shares during the last quarter. Catalina Capital Group LLC boosted its position in shares of M&T Bank by 2.0% in the 4th quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider’s stock worth $531,000 after purchasing an additional 56 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of M&T Bank by 1.7% during the fourth quarter. Parallel Advisors LLC now owns 3,512 shares of the financial services provider’s stock worth $660,000 after purchasing an additional 60 shares during the period. Sheaff Brock Investment Advisors LLC increased its holdings in M&T Bank by 1.2% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 5,188 shares of the financial services provider’s stock valued at $975,000 after purchasing an additional 63 shares during the last quarter. Finally, Meridian Wealth Management LLC lifted its stake in M&T Bank by 3.8% in the fourth quarter. Meridian Wealth Management LLC now owns 1,786 shares of the financial services provider’s stock valued at $336,000 after buying an additional 66 shares during the period. Institutional investors own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MTB shares. Morgan Stanley decreased their target price on M&T Bank from $269.00 to $253.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Barclays boosted their price objective on shares of M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. DA Davidson increased their target price on shares of M&T Bank from $222.00 to $223.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Truist Financial reissued a “buy” rating and issued a $236.00 price target (up previously from $233.00) on shares of M&T Bank in a report on Friday, January 17th. Finally, Citigroup dropped their price objective on M&T Bank from $230.00 to $195.00 and set a “neutral” rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, M&T Bank presently has an average rating of “Hold” and an average target price of $219.97.

Insider Buying and Selling at M&T Bank

In other news, EVP Christopher E. Kay sold 1,738 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the completion of the sale, the executive vice president now owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. This represents a 13.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.53% of the company’s stock.

M&T Bank Price Performance

NYSE MTB opened at $182.10 on Thursday. The firm’s 50 day moving average is $190.20 and its 200-day moving average is $192.48. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $29.92 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74. M&T Bank Co. has a 12-month low of $133.03 and a 12-month high of $225.70.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.70 by $0.22. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same period last year, the company posted $2.74 EPS. Equities research analysts anticipate that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $5.40 annualized dividend and a yield of 2.97%. M&T Bank’s dividend payout ratio (DPR) is presently 36.91%.

M&T Bank declared that its Board of Directors has approved a share repurchase plan on Wednesday, January 22nd that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

M&T Bank 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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.