M&T Bank Co. (NYSE:MTB) Holdings Raised by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd increased its stake in M&T Bank Co. (NYSE:MTB) by 12.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,744 shares of the financial services provider’s stock after acquiring an additional 2,000 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in M&T Bank were worth $3,161,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Wolfe Research raised M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a research report on Friday, October 4th. The Goldman Sachs Group boosted their price objective on M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a report on Tuesday. Wedbush raised their target price on shares of M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. DA Davidson lifted their target price on shares of M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Finally, Evercore ISI upped their price target on shares of M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $203.29.

M&T Bank Stock Down 0.5 %

M&T Bank stock opened at $220.77 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a 1-year low of $123.46 and a 1-year high of $225.70. The firm’s fifty day simple moving average is $193.89 and its 200-day simple moving average is $170.70. The company has a market capitalization of $36.63 billion, a P/E ratio of 16.34, a P/E/G ratio of 3.13 and a beta of 0.74.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 9.52% and a net margin of 17.82%. Sell-side analysts forecast that M&T Bank Co. will post 14.56 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be paid a $1.35 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.45%. M&T Bank’s payout ratio is presently 39.97%.

Insider Activity at M&T Bank

In other M&T Bank news, Director John P. Barnes sold 20,000 shares of M&T Bank stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $217.45, for a total value of $4,349,000.00. Following the transaction, the director now directly owns 35,480 shares of the company’s stock, valued at $7,715,126. The trade was a 36.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael J. Todaro sold 4,786 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were 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 of the company’s stock, valued at $596,696.70. This represents a 63.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,383 shares of company stock worth $17,925,801. 0.82% of the stock is owned by insiders.

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.