Mitsubishi UFJ Trust & Banking Corp Purchases 13,889 Shares of M&T Bank Corporation $MTB

Mitsubishi UFJ Trust & Banking Corp grew its position in M&T Bank Corporation (NYSE:MTB) by 19.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 86,731 shares of the financial services provider’s stock after purchasing an additional 13,889 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in M&T Bank were worth $17,140,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MTB. Canoe Financial LP raised its stake in M&T Bank by 46.8% during the 3rd quarter. Canoe Financial LP now owns 433,679 shares of the financial services provider’s stock worth $85,704,000 after buying an additional 138,173 shares during the period. Commerzbank Aktiengesellschaft FI increased its holdings in shares of M&T Bank by 27.3% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 8,111 shares of the financial services provider’s stock worth $1,574,000 after acquiring an additional 1,741 shares in the last quarter. Ethic Inc. raised its position in shares of M&T Bank by 20.8% during the second quarter. Ethic Inc. now owns 25,741 shares of the financial services provider’s stock worth $4,988,000 after purchasing an additional 4,432 shares during the period. Allstate Corp acquired a new stake in shares of M&T Bank during the third quarter worth about $1,114,000. Finally, Manning & Napier Advisors LLC lifted its holdings in shares of M&T Bank by 79.9% during the 3rd quarter. Manning & Napier Advisors LLC now owns 14,303 shares of the financial services provider’s stock valued at $2,827,000 after purchasing an additional 6,354 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

M&T Bank Price Performance

Shares of NYSE MTB opened at $217.48 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.90 and a quick ratio of 0.97. The business has a 50-day moving average of $203.40 and a 200-day moving average of $195.76. The stock has a market capitalization of $33.42 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 0.94 and a beta of 0.59. M&T Bank Corporation has a fifty-two week low of $150.75 and a fifty-two week high of $222.18.

M&T Bank (NYSE:MTB) last released its earnings results on Friday, January 16th. The financial services provider reported $4.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.47 by $0.25. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the prior year, the company posted $3.77 earnings per share. As a group, sell-side analysts predict that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st were issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, December 1st. M&T Bank’s dividend payout ratio is presently 35.19%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MTB shares. Wells Fargo & Company increased their target price on M&T Bank from $185.00 to $205.00 and gave the stock an “underweight” rating in a research note on Monday, January 5th. Keefe, Bruyette & Woods increased their price objective on shares of M&T Bank from $220.00 to $230.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 17th. Citigroup boosted their price objective on shares of M&T Bank from $215.00 to $225.00 and gave the company a “neutral” rating in a research report on Friday, January 2nd. TD Cowen reiterated a “buy” rating on shares of M&T Bank in a report on Wednesday, January 7th. Finally, Robert W. Baird lifted their price target on M&T Bank from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, M&T Bank currently has an average rating of “Hold” and a consensus price target of $224.29.

Insider Activity

In other M&T Bank news, Director John P. Barnes sold 17,866 shares of the stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $220.81, for a total value of $3,944,991.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Christopher E. Kay sold 5,250 shares of M&T Bank stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $191.70, for a total transaction of $1,006,425.00. Following the completion of the transaction, the executive vice president directly owned 5,501 shares of the company’s stock, valued at approximately $1,054,541.70. This trade represents a 48.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 29,116 shares of company stock valued at $6,091,776. 0.53% of the stock is owned by insiders.

M&T Bank Profile

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.