Sumitomo Mitsui DS Asset Management Company Ltd Purchases 164 Shares of M&T Bank Co. (NYSE:MTB)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in M&T Bank Co. (NYSE:MTB) by 1.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,570 shares of the financial services provider’s stock after purchasing an additional 164 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in M&T Bank were worth $2,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of MTB. International Assets Investment Management LLC purchased a new stake in M&T Bank in the 4th quarter valued at about $11,759,000. Mather Group LLC. purchased a new stake in shares of M&T Bank in the 4th quarter worth $305,000. New York Life Investment Management LLC grew its position in shares of M&T Bank by 0.6% during the 4th quarter. New York Life Investment Management LLC now owns 25,850 shares of the financial services provider’s stock worth $3,544,000 after buying an additional 153 shares in the last quarter. First Horizon Advisors Inc. increased its position in M&T Bank by 3.2% during the 4th quarter. First Horizon Advisors Inc. now owns 2,548 shares of the financial services provider’s stock valued at $349,000 after purchasing an additional 80 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of M&T Bank in the 4th quarter worth approximately $34,645,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Buying and Selling at M&T Bank

In other news, Vice Chairman Gary N. Geisel sold 500 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total value of $86,250.00. Following the sale, the insider now owns 16,429 shares in the company, valued at $2,834,002.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other M&T Bank news, Director Kirk W. Walters sold 2,471 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $24.60, for a total value of $60,786.60. Following the completion of the transaction, the director now directly owns 20,414 shares of the company’s stock, valued at $502,184.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Gary N. Geisel sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total transaction of $86,250.00. Following the sale, the insider now directly owns 16,429 shares in the company, valued at approximately $2,834,002.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,699 shares of company stock worth $3,395,049. Company insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of M&T Bank from $160.00 to $174.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Morgan Stanley raised their price objective on M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Piper Sandler boosted their target price on shares of M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. DA Davidson raised their price target on shares of M&T Bank from $159.00 to $185.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $173.85.

M&T Bank Price Performance

NYSE MTB opened at $172.17 on Friday. The company has a market cap of $28.73 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 3.34 and a beta of 0.77. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.94 and a quick ratio of 1.00. The stock’s fifty day moving average price is $160.69 and its 200 day moving average price is $149.71. M&T Bank Co. has a 1 year low of $108.53 and a 1 year high of $176.44.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. The business had revenue of $3.37 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period in the prior year, the company earned $5.12 earnings per share. As a group, equities research analysts forecast that M&T Bank Co. will post 14.24 earnings per share for the current year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Tuesday, September 3rd. M&T Bank’s dividend payout ratio is presently 36.51%.

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.