Tokio Marine Asset Management Co. Ltd. Has $834,000 Stock Position in M&T Bank Co. (NYSE:MTB)

Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of M&T Bank Co. (NYSE:MTB) by 3.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,437 shares of the financial services provider’s stock after acquiring an additional 158 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in M&T Bank were worth $834,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Plato Investment Management Ltd grew its position in M&T Bank by 2,300.0% during the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 161 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of M&T Bank during the 3rd quarter valued at $32,000. Hexagon Capital Partners LLC grew its holdings in shares of M&T Bank by 54.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 68 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of M&T Bank by 329.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 158 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in M&T Bank during the third quarter valued at $44,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Transactions at M&T Bank

In other news, EVP Tracy S. Woodrow sold 2,121 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total value of $468,210.75. Following the sale, the executive vice president now owns 5,141 shares of the company’s stock, valued at approximately $1,134,875.75. This represents a 29.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of M&T Bank stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total transaction of $537,566.10. Following the transaction, the insider now directly owns 16,429 shares of the company’s stock, valued at $3,546,856.81. This represents a 13.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 29,397 shares of company stock valued at $6,379,459. Company insiders own 0.82% of the company’s stock.

M&T Bank Stock Up 1.0 %

NYSE MTB opened at $197.86 on Wednesday. M&T Bank Co. has a twelve month low of $128.31 and a twelve month high of $225.70. The stock has a market cap of $32.83 billion, a PE ratio of 13.52, a PEG ratio of 1.41 and a beta of 0.79. The firm has a 50-day simple moving average of $198.76 and a 200 day simple moving average of $187.31. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.93.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, topping the consensus estimate of $3.70 by $0.22. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same quarter last year, the firm posted $2.74 EPS. On average, research analysts forecast that M&T Bank Co. will post 16.56 EPS for the current year.

M&T Bank announced that its board has authorized a stock buyback program on Wednesday, January 22nd that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 12.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date was Monday, December 2nd. M&T Bank’s dividend payout ratio is 36.91%.

Analyst Ratings Changes

A number of research firms have recently weighed in on MTB. Evercore ISI raised their price target on M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Barclays lifted their target price on shares of M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Keefe, Bruyette & Woods raised their price target on shares of M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler upped their price objective on shares of M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Finally, Bank of America raised their target price on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $221.68.

About M&T Bank

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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.