Meiji Yasuda Asset Management Co Ltd. Boosts Stake in M&T Bank Co. (NYSE:MTB)

Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of M&T Bank Co. (NYSE:MTB) by 3.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,153 shares of the financial services provider’s stock after purchasing an additional 446 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in M&T Bank were worth $2,142,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Ontario Teachers Pension Plan Board increased its holdings in M&T Bank by 43.1% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 12,423 shares of the financial services provider’s stock worth $1,807,000 after acquiring an additional 3,739 shares in the last quarter. Leuthold Group LLC purchased a new position in shares of M&T Bank during the 1st quarter valued at $3,125,000. Rafferty Asset Management LLC boosted its holdings in M&T Bank by 72.1% in the 4th quarter. Rafferty Asset Management LLC now owns 239,934 shares of the financial services provider’s stock worth $32,890,000 after buying an additional 100,526 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in M&T Bank by 7.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 497,503 shares of the financial services provider’s stock worth $72,357,000 after buying an additional 35,692 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in M&T Bank by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 331,868 shares of the financial services provider’s stock valued at $48,267,000 after acquiring an additional 18,566 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Activity

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 1,000 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total transaction of $172,230.00. Following the transaction, the director now directly owns 31,796 shares in the company, valued at approximately $5,476,225.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other M&T Bank news, Director Robert E. Sadler, Jr. sold 1,000 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total transaction of $172,230.00. Following the transaction, the director now directly owns 31,796 shares in the company, valued at approximately $5,476,225.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Gary N. Geisel sold 500 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total transaction of $86,250.00. Following the completion of the sale, the insider now owns 16,429 shares of the company’s stock, valued at approximately $2,834,002.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,699 shares of company stock valued at $5,115,349. Corporate insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, July 19th. Bank of America boosted their target price on shares of M&T Bank from $160.00 to $188.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Evercore ISI raised their target price on shares of M&T Bank from $157.00 to $168.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. JPMorgan Chase & Co. upgraded shares of M&T Bank from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $183.00 to $215.00 in a research note on Tuesday, September 3rd. Finally, Citigroup raised their price objective on M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, M&T Bank currently has an average rating of “Hold” and an average price target of $175.85.

M&T Bank Stock Up 3.3 %

Shares of NYSE:MTB opened at $179.86 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 1.00. The business has a 50 day simple moving average of $166.98 and a two-hundred day simple moving average of $153.16. M&T Bank Co. has a 1 year low of $108.53 and a 1 year high of $180.19. The firm has a market capitalization of $30.01 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 3.32 and a beta of 0.76.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, beating the consensus estimate 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 company had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the prior year, the company posted $5.12 EPS. On average, equities analysts predict that M&T Bank Co. will post 14.24 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be paid a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 3.00%. M&T Bank’s dividend payout ratio is currently 36.51%.

M&T Bank Company 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.