Sumitomo Mitsui Trust Group Inc. Has $89.11 Million Stock Holdings in M&T Bank Corporation $MTB

Sumitomo Mitsui Trust Group Inc. decreased its stake in M&T Bank Corporation (NYSE:MTB) by 4.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 442,282 shares of the financial services provider’s stock after selling 20,851 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in M&T Bank were worth $89,111,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. V Square Quantitative Management LLC acquired a new stake in shares of M&T Bank in the fourth quarter valued at about $364,000. Delphi Management Inc. MA acquired a new stake in shares of M&T Bank in the fourth quarter valued at about $1,524,000. Sound Income Strategies LLC increased its stake in shares of M&T Bank by 0.5% in the fourth quarter. Sound Income Strategies LLC now owns 100,223 shares of the financial services provider’s stock valued at $21,275,000 after buying an additional 538 shares during the period. Piscataqua Savings Bank increased its stake in shares of M&T Bank by 728.6% in the fourth quarter. Piscataqua Savings Bank now owns 754 shares of the financial services provider’s stock valued at $152,000 after buying an additional 663 shares during the period. Finally, Mn Services Vermogensbeheer B.V. increased its stake in shares of M&T Bank by 1.2% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 62,263 shares of the financial services provider’s stock valued at $12,545,000 after buying an additional 763 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group increased their price target on M&T Bank from $250.00 to $255.00 and gave the company a “buy” rating in a research note on Wednesday, April 8th. Robert W. Baird increased their price target on M&T Bank from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, December 18th. Barclays increased their price target on M&T Bank from $220.00 to $236.00 and gave the company an “equal weight” rating in a research note on Monday, January 5th. Piper Sandler raised their target price on M&T Bank from $225.00 to $235.00 in a research note on Friday, January 16th. Finally, Bank of America reaffirmed a “neutral” rating and set a $225.00 target price on shares of M&T Bank in a research note on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $230.24.

M&T Bank Trading Up 0.6%

NYSE MTB opened at $221.22 on Tuesday. The business has a 50 day simple moving average of $216.02 and a 200 day simple moving average of $203.72. M&T Bank Corporation has a one year low of $154.00 and a one year high of $239.00. The stock has a market capitalization of $32.96 billion, a P/E ratio of 12.97, a P/E/G ratio of 1.09 and a beta of 0.60. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.96 and a quick ratio of 0.96.

M&T Bank (NYSE:MTB) last released its earnings results on Friday, January 16th. The financial services provider reported $4.72 EPS for the quarter, topping the consensus estimate of $4.47 by $0.25. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter last year, the firm posted $3.77 earnings per share. Research analysts expect that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 2nd were paid a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $6.00 annualized dividend and a yield of 2.7%. M&T Bank’s dividend payout ratio (DPR) is currently 35.19%.

M&T Bank declared that its Board of Directors has initiated a stock repurchase program on Tuesday, March 31st that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 16.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Kirk W. Walters sold 909 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $227.37, for a total transaction of $206,679.33. Following the completion of the sale, the director owned 5,976 shares of the company’s stock, valued at $1,358,763.12. This trade represents a 13.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michael A. Wisler sold 8,237 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $223.48, for a total value of $1,840,804.76. Following the completion of the transaction, the executive vice president owned 4,643 shares in the company, valued at approximately $1,037,617.64. The trade was a 63.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 49,092 shares of company stock worth $11,182,250. Company insiders own 0.44% of the company’s stock.

M&T Bank Profile

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.