Sumitomo Mitsui DS Asset Management Company Ltd Buys 2,124 Shares of M&T Bank Co. (NYSE:MTB)

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in M&T Bank Co. (NYSE:MTB) by 13.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 17,694 shares of the financial services provider’s stock after purchasing an additional 2,124 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in M&T Bank were worth $3,152,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Bleakley Financial Group LLC boosted its holdings in shares of M&T Bank by 9.9% during the 3rd quarter. Bleakley Financial Group LLC now owns 3,401 shares of the financial services provider’s stock worth $606,000 after buying an additional 305 shares during the period. nVerses Capital LLC bought a new stake in M&T Bank during the third quarter valued at about $53,000. Annapolis Financial Services LLC grew its position in shares of M&T Bank by 150.7% in the third quarter. Annapolis Financial Services LLC now owns 376 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 226 shares during the last quarter. Alliance Wealth Advisors LLC bought a new position in shares of M&T Bank in the third quarter worth about $228,000. Finally, Regent Peak Wealth Advisors LLC acquired a new position in shares of M&T Bank during the 3rd quarter worth about $221,000. Institutional investors own 84.68% of the company’s stock.

M&T Bank Trading Down 0.7 %

Shares of M&T Bank stock opened at $197.55 on Monday. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $200.94. The stock has a market capitalization of $32.96 billion, a P/E ratio of 13.36, a price-to-earnings-growth ratio of 3.27 and a beta of 0.75. The company has a 50-day simple moving average of $172.93 and a 200 day simple moving average of $158.92. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. The company had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $2.27 billion. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. During the same quarter in the previous year, the company posted $5.12 earnings per share. Research analysts expect that M&T Bank Co. will post 14.16 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend was Tuesday, September 3rd. M&T Bank’s dividend payout ratio is currently 36.51%.

Analysts Set New Price Targets

Several research analysts have commented on MTB shares. Keefe, Bruyette & Woods lifted their price target on M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. Bank of America boosted their target price on shares of M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a research report on Friday. Wells Fargo & Company increased their price target on shares of M&T Bank from $165.00 to $190.00 and gave the company an “underweight” rating in a report on Friday. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Friday. Finally, The Goldman Sachs Group increased their target price on shares of M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a research note on Friday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, M&T Bank currently has a consensus rating of “Hold” and an average target price of $196.18.

Insider Transactions at M&T Bank

In related news, Director Robert E. Sadler, Jr. sold 1,000 shares of the company’s 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 owns 31,796 shares in the company, valued at $5,476,225.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other M&T Bank news, Vice Chairman Gary N. Geisel sold 500 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total value of $86,250.00. Following the transaction, the insider now directly owns 16,429 shares in the company, valued at approximately $2,834,002.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total value of $172,230.00. Following the sale, the director now owns 31,796 shares of the company’s stock, valued at approximately $5,476,225.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,699 shares of company stock worth $5,115,349. Insiders own 0.82% of the company’s stock.

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.