Tokio Marine Asset Management Co. Ltd. Acquires 280 Shares of M&T Bank Co. (NYSE:MTB)

Tokio Marine Asset Management Co. Ltd. lifted its stake in M&T Bank Co. (NYSE:MTB) by 7.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,279 shares of the financial services provider’s stock after purchasing an additional 280 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in M&T Bank were worth $762,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MTB. Plato Investment Management Ltd increased its holdings in M&T Bank by 2,300.0% during the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 161 shares during the period. Ashton Thomas Securities LLC purchased a new position in M&T Bank in the third quarter valued at about $32,000. Hexagon Capital Partners LLC raised its holdings in M&T Bank by 54.4% in the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 68 shares in the last quarter. Oakworth Capital Inc. bought a new stake in shares of M&T Bank in the 2nd quarter valued at about $35,000. Finally, Migdal Insurance & Financial Holdings Ltd. grew its position in shares of M&T Bank by 329.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after buying an additional 158 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

Insider Buying and Selling at M&T Bank

In other news, EVP Michael J. Todaro sold 4,786 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $214.10, for a total value of $1,024,682.60. Following the completion of the sale, the executive vice president now directly owns 2,787 shares in the company, valued at $596,696.70. This represents a 63.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kirk W. Walters sold 2,471 shares of M&T Bank 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 transaction, the director now owns 20,414 shares in the company, valued at approximately $502,184.40. The trade was a 10.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 72,854 shares of company stock valued at $13,637,588 over the last quarter. 0.82% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MTB has been the subject of several recent analyst reports. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Royal Bank of Canada upped their price objective on shares of M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Barclays raised their price target on shares of M&T Bank from $170.00 to $228.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. The Goldman Sachs Group increased their price objective on M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Piper Sandler increased their price target 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $199.65.

M&T Bank Trading Up 0.7 %

Shares of NYSE:MTB opened at $214.74 on Friday. The firm has a market capitalization of $35.63 billion, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of 2.98 and a beta of 0.74. The business’s 50 day moving average price is $186.15 and its 200-day moving average price is $166.57. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99. M&T Bank Co. has a 1 year low of $123.37 and a 1 year high of $216.84.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.60 by $0.48. The business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.30 billion. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. On average, equities research analysts forecast that M&T Bank Co. will post 14.56 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $1.35 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a yield of 2.51%. M&T Bank’s dividend payout ratio (DPR) is currently 39.97%.

About M&T Bank

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.