M&T Bank Corporation (NYSE:MTB) Shares Purchased by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. increased its stake in shares of M&T Bank Corporation (NYSE:MTB - Free Report) by 5.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,828 shares of the financial services provider's stock after purchasing an additional 3,683 shares during the period. Asset Management One Co. Ltd.'s holdings in M&T Bank were worth $12,482,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Exchange Traded Concepts LLC raised its position in shares of M&T Bank by 53.8% during the 1st quarter. Exchange Traded Concepts LLC now owns 526 shares of the financial services provider's stock worth $94,000 after purchasing an additional 184 shares during the last quarter. US Bancorp DE raised its position in shares of M&T Bank by 24.3% during the 4th quarter. US Bancorp DE now owns 8,382 shares of the financial services provider's stock worth $1,576,000 after purchasing an additional 1,639 shares during the last quarter. Kingswood Wealth Advisors LLC raised its position in shares of M&T Bank by 4.4% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 2,076 shares of the financial services provider's stock worth $370,000 after purchasing an additional 88 shares during the last quarter. American Century Companies Inc. raised its position in shares of M&T Bank by 0.9% during the 4th quarter. American Century Companies Inc. now owns 67,987 shares of the financial services provider's stock worth $12,782,000 after purchasing an additional 610 shares during the last quarter. Finally, Rockefeller Capital Management L.P. acquired a new position in shares of M&T Bank during the 4th quarter worth approximately $2,035,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Robert E. Sadler, Jr. sold 6,700 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $183.52, for a total transaction of $1,229,584.00. Following the completion of the sale, the director now directly owns 23,070 shares of the company's stock, valued at approximately $4,233,806.40. This represents a 22.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is owned by corporate insiders.

M&T Bank Trading Up 0.2%

Shares of NYSE MTB traded up $0.38 during trading on Friday, hitting $193.87. 1,351,607 shares of the company traded hands, compared to its average volume of 1,184,215. The company has a 50-day moving average price of $179.24 and a 200-day moving average price of $183.75. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.39. M&T Bank Corporation has a 1 year low of $145.82 and a 1 year high of $225.70. The firm has a market capitalization of $31.12 billion, a P/E ratio of 12.98, a P/E/G ratio of 1.39 and a beta of 0.62.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). M&T Bank had a return on equity of 10.18% and a net margin of 19.86%. The business had revenue of $2.31 billion for the quarter, compared to analysts' expectations of $2.35 billion. During the same period last year, the company posted $3.09 earnings per share. On average, equities analysts predict that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be given a dividend of $1.35 per share. The ex-dividend date is Monday, June 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.79%. M&T Bank's dividend payout ratio (DPR) is 36.17%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on M&T Bank from $212.50 to $186.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Barclays cut their price target on M&T Bank from $235.00 to $220.00 and set an "equal weight" rating for the company in a report on Tuesday, April 15th. Evercore ISI cut their price target on M&T Bank from $234.00 to $205.00 and set an "outperform" rating for the company in a report on Thursday, March 13th. Wells Fargo & Company cut their price target on M&T Bank from $185.00 to $175.00 and set an "underweight" rating for the company in a report on Tuesday, April 15th. Finally, Deutsche Bank Aktiengesellschaft upgraded M&T Bank from a "hold" rating to a "buy" rating and set a $210.00 price target for the company in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $210.88.

M&T Bank Company Profile

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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.