M&T Bank Corporation $MTB Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp trimmed its position in M&T Bank Corporation (NYSE:MTB) by 15.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 72,842 shares of the financial services provider’s stock after selling 13,351 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in M&T Bank were worth $14,131,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MTB. Commerzbank Aktiengesellschaft FI raised its holdings in shares of M&T Bank by 27.3% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 8,111 shares of the financial services provider’s stock worth $1,574,000 after acquiring an additional 1,741 shares during the period. Raymond James Financial Inc. boosted its holdings in M&T Bank by 1.8% in the 1st quarter. Raymond James Financial Inc. now owns 117,972 shares of the financial services provider’s stock valued at $21,088,000 after purchasing an additional 2,111 shares during the last quarter. Ethic Inc. grew its stake in shares of M&T Bank by 20.8% in the 2nd quarter. Ethic Inc. now owns 25,741 shares of the financial services provider’s stock valued at $4,988,000 after buying an additional 4,432 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of M&T Bank by 3.1% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 463,669 shares of the financial services provider’s stock worth $89,947,000 after buying an additional 13,749 shares during the last quarter. Finally, Applied Finance Capital Management LLC purchased a new stake in shares of M&T Bank during the 2nd quarter valued at approximately $798,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Cantor Fitzgerald started coverage on M&T Bank in a research report on Wednesday, September 10th. They issued an “overweight” rating and a $228.00 price objective for the company. Piper Sandler initiated coverage on M&T Bank in a report on Monday, October 6th. They set an “overweight” rating and a $225.00 price target for the company. Evercore ISI boosted their price objective on shares of M&T Bank from $222.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of M&T Bank in a research report on Thursday. Finally, Wall Street Zen upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, M&T Bank presently has an average rating of “Moderate Buy” and an average price target of $217.76.

Insider Buying and Selling

In other M&T Bank news, Director John P. Barnes sold 15,000 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $199.79, for a total value of $2,996,850.00. Following the completion of the transaction, the director owned 17,866 shares in the company, valued at $3,569,448.14. The trade was a 45.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.53% of the stock is owned by corporate insiders.

M&T Bank Stock Performance

Shares of M&T Bank stock opened at $186.98 on Friday. The stock has a market capitalization of $28.74 billion, a price-to-earnings ratio of 11.51, a price-to-earnings-growth ratio of 0.87 and a beta of 0.66. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.97 and a quick ratio of 0.97. The business has a 50-day moving average of $189.85 and a 200 day moving average of $189.55. M&T Bank Corporation has a 12 month low of $150.75 and a 12 month high of $225.70.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share (EPS) for the quarter. M&T Bank had a net margin of 20.91% and a return on equity of 10.62%. The business had revenue of $1.54 billion for the quarter. As a group, sell-side analysts forecast that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were given a $1.50 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $6.00 annualized dividend and a yield of 3.2%. This is a boost from M&T Bank’s previous quarterly dividend of $1.35. M&T Bank’s dividend payout ratio is 36.95%.

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