Daiwa Securities Group Inc. Increases Stock Holdings in M&T Bank Co. (NYSE:MTB)

Daiwa Securities Group Inc. lifted its stake in M&T Bank Co. (NYSE:MTB) by 12.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 20,445 shares of the financial services provider’s stock after purchasing an additional 2,194 shares during the quarter. Daiwa Securities Group Inc.’s holdings in M&T Bank were worth $3,642,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MTB. Westfield Capital Management Co. LP bought a new position in M&T Bank in the 3rd quarter valued at $24,740,000. Senvest Management LLC grew its position in M&T Bank by 12.3% in the 3rd quarter. Senvest Management LLC now owns 882,841 shares of the financial services provider’s stock valued at $157,252,000 after acquiring an additional 96,500 shares during the last quarter. Pitcairn Co. grew its position in M&T Bank by 0.8% in the 3rd quarter. Pitcairn Co. now owns 9,362 shares of the financial services provider’s stock valued at $1,668,000 after acquiring an additional 70 shares during the last quarter. Kingsview Wealth Management LLC grew its position in M&T Bank by 6.6% in the 3rd quarter. Kingsview Wealth Management LLC now owns 1,785 shares of the financial services provider’s stock valued at $318,000 after acquiring an additional 110 shares during the last quarter. Finally, Cerity Partners LLC grew its position in M&T Bank by 116.3% in the 3rd quarter. Cerity Partners LLC now owns 31,591 shares of the financial services provider’s stock valued at $5,627,000 after acquiring an additional 16,983 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Activity

In related news, EVP John R. Taylor sold 1,436 shares of M&T Bank stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $195.03, for a total transaction of $280,063.08. Following the transaction, the executive vice president now owns 5,618 shares in the company, valued at approximately $1,095,678.54. This trade represents a 20.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John P. Barnes sold 20,000 shares of M&T Bank stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $217.45, for a total value of $4,349,000.00. Following the transaction, the director now owns 35,480 shares in the company, valued at approximately $7,715,126. The trade was a 36.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 90,383 shares of company stock worth $17,925,801 over the last quarter. 0.82% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company increased their price target on M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. raised M&T Bank from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $183.00 to $215.00 in a research report on Tuesday, September 3rd. Wedbush upped their price objective on M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. DA Davidson upped their price objective on M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Finally, Piper Sandler upped their price objective on M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, M&T Bank has an average rating of “Hold” and a consensus target price of $206.41.

M&T Bank Stock Up 0.0 %

M&T Bank stock opened at $220.80 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a 52 week low of $123.46 and a 52 week high of $225.70. The business’s 50-day moving average price is $194.82 and its 200 day moving average price is $171.05. The firm has a market cap of $36.64 billion, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 3.13 and a beta of 0.74.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, beating the consensus estimate of $3.60 by $0.48. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. As a group, sell-side analysts anticipate that M&T Bank Co. will post 14.56 earnings per share for the current year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be given a $1.35 dividend. The ex-dividend date is Monday, December 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.45%. M&T Bank’s dividend payout ratio (DPR) is presently 39.97%.

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.