M&T Bank Co. (NYSE:MTB) Shares Sold by Nissay Asset Management Corp Japan ADV

Nissay Asset Management Corp Japan ADV reduced its stake in M&T Bank Co. (NYSE:MTB) by 2.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,185 shares of the financial services provider’s stock after selling 261 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in M&T Bank were worth $1,847,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Stratos Wealth Partners LTD. raised its stake in shares of M&T Bank by 3.7% in the first quarter. Stratos Wealth Partners LTD. now owns 1,889 shares of the financial services provider’s stock valued at $286,000 after acquiring an additional 68 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of M&T Bank by 0.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 24,223 shares of the financial services provider’s stock valued at $3,084,000 after acquiring an additional 73 shares in the last quarter. Cigna Investments Inc. New increased its holdings in M&T Bank by 1.7% in the first quarter. Cigna Investments Inc. New now owns 4,610 shares of the financial services provider’s stock valued at $700,000 after buying an additional 75 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in M&T Bank by 9.8% in the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 920 shares of the financial services provider’s stock valued at $139,000 after buying an additional 82 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. increased its holdings in M&T Bank by 1.5% in the first quarter. Vestmark Advisory Solutions Inc. now owns 6,383 shares of the financial services provider’s stock valued at $968,000 after buying an additional 97 shares during the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

NYSE MTB opened at $153.89 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.06 and a current ratio of 1.06. M&T Bank Co. has a 52-week low of $88.48 and a 52-week high of $168.27. The business’s 50-day moving average is $158.27. The stock has a market capitalization of $19.80 billion, a price-to-earnings ratio of 13.57, a P/E/G ratio of 0.80 and a beta of 1.20.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Sunday, April 18th. The financial services provider reported $3.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.00 by $0.33. M&T Bank had a return on equity of 10.39% and a net margin of 24.89%. During the same quarter last year, the company earned $1.93 EPS. On average, equities analysts forecast that M&T Bank Co. will post 13.21 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Tuesday, June 1st will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Friday, May 28th. M&T Bank’s dividend payout ratio is currently 43.91%.

Several equities analysts recently commented on the company. Jefferies Financial Group reissued a “hold” rating on shares of M&T Bank in a report on Monday, April 19th. Wells Fargo & Company reissued an “equal weight” rating on shares of M&T Bank in a report on Tuesday, February 23rd. Morgan Stanley increased their target price on M&T Bank from $175.00 to $180.00 and gave the company an “equal weight” rating in a report on Thursday, April 29th. Zacks Investment Research raised M&T Bank from a “hold” rating to a “buy” rating and set a $163.00 price objective on the stock in a report on Tuesday, April 27th. Finally, Barclays raised their price objective on M&T Bank from $163.00 to $167.00 and gave the stock an “overweight” rating in a report on Wednesday, April 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. M&T Bank presently has a consensus rating of “Hold” and an average target price of $160.29.

In related news, EVP D Scott N. Warman sold 4,000 shares of the firm’s stock in a transaction dated Thursday, June 3rd. The shares were sold at an average price of $163.00, for a total value of $652,000.00. Following the completion of the sale, the executive vice president now owns 14,486 shares in the company, valued at $2,361,218. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Michele D. Trolli sold 4,967 shares of the firm’s stock in a transaction dated Tuesday, April 27th. The shares were sold at an average price of $155.74, for a total transaction of $773,560.58. Following the completion of the sale, the executive vice president now owns 10,622 shares of the company’s stock, valued at approximately $1,654,270.28. The disclosure for this sale can be found here. Company insiders own 0.64% of the company’s stock.

M&T Bank Profile

M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial lending and leasing, letters of credit, and cash management services for middle-market and large commercial customers.

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Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

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