M&T Bank Corporation $MTB Stock Holdings Lifted by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group Inc. raised its stake in M&T Bank Corporation by 3.1%, owning 463,669 shares worth approximately $89.9 million.
• Wall Street analysts have increased their target prices for M&T Bank, with Citigroup raising it from $200 to $212, indicating a general optimistic outlook for the stock.
• M&T Bank recently declared a quarterly dividend of $1.50 per share, up from $1.35, reflecting a commitment to returning value to shareholders.

Sumitomo Mitsui Trust Group Inc. raised its position in shares of M&T Bank Corporation (NYSE:MTB - Free Report) by 3.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 463,669 shares of the financial services provider's stock after purchasing an additional 13,749 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.29% of M&T Bank worth $89,947,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of M&T Bank by 3.9% in the 1st quarter. GAMMA Investing LLC now owns 3,948 shares of the financial services provider's stock valued at $706,000 after purchasing an additional 148 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in M&T Bank by 4.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 22,629 shares of the financial services provider's stock valued at $4,045,000 after buying an additional 936 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of M&T Bank in the first quarter worth about $46,000. Western Wealth Management LLC boosted its stake in shares of M&T Bank by 3.2% during the 1st quarter. Western Wealth Management LLC now owns 3,270 shares of the financial services provider's stock worth $584,000 after acquiring an additional 101 shares in the last quarter. Finally, Diversified Trust Co acquired a new position in shares of M&T Bank during the 1st quarter valued at about $296,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MTB shares. Citigroup boosted their target price on M&T Bank from $200.00 to $212.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. TD Cowen lifted their price target on shares of M&T Bank from $235.00 to $245.00 and gave the company a "buy" rating in a research report on Monday, October 20th. Evercore ISI upped their price objective on shares of M&T Bank from $222.00 to $225.00 and gave the stock an "outperform" rating in a report on Tuesday, September 30th. UBS Group raised their target price on shares of M&T Bank from $207.00 to $208.00 and gave the company a "neutral" rating in a research note on Tuesday, October 7th. Finally, DA Davidson boosted their target price on shares of M&T Bank from $189.00 to $207.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, M&T Bank has an average rating of "Moderate Buy" and an average target price of $217.76.

Insider Buying and Selling

In other M&T Bank news, Director John P. Barnes sold 15,000 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $199.79, for a total value of $2,996,850.00. Following the completion of the sale, the director owned 17,866 shares in the company, valued at approximately $3,569,448.14. This trade represents a 45.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is currently owned by company insiders.

M&T Bank Trading Up 2.3%

Shares of M&T Bank stock opened at $185.20 on Friday. M&T Bank Corporation has a 1 year low of $150.75 and a 1 year high of $225.70. The company's fifty day simple moving average is $193.97 and its 200-day simple moving average is $187.15. The company has a market cap of $28.94 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 0.89 and a beta of 0.62. The company has a current ratio of 0.91, a quick ratio of 0.97 and a debt-to-equity ratio of 0.49.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings results on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share for the quarter. The firm had revenue of $1.54 billion during the quarter. M&T Bank had a net margin of 20.91% and a return on equity of 10.62%. As a group, sell-side analysts expect that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd were paid a dividend of $1.50 per share. This is a positive change from M&T Bank's previous quarterly dividend of $1.35. This represents a $6.00 annualized dividend and a yield of 3.2%. The ex-dividend date was Tuesday, September 2nd. M&T Bank's dividend payout ratio is presently 36.95%.

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.

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