Mitsubishi UFJ Trust & Banking Corp Buys 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, according to its most recent 13F filing with the SEC. The institutional investor owned 86,731 shares of the financial services provider’s stock after purchasing an additional 13,889 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.06% of M&T Bank worth $17,140,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Flagship Wealth Advisors LLC acquired a new position in M&T Bank in the third quarter valued at about $211,000. iA Global Asset Management Inc. raised its stake in shares of M&T Bank by 53.9% in the third quarter. iA Global Asset Management Inc. now owns 4,647 shares of the financial services provider’s stock valued at $918,000 after acquiring an additional 1,628 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of M&T Bank by 29.6% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 359 shares of the financial services provider’s stock valued at $71,000 after acquiring an additional 82 shares during the last quarter. Root Financial Partners LLC acquired a new position in shares of M&T Bank in the 3rd quarter worth approximately $61,000. Finally, Arkadios Wealth Advisors grew its position in M&T Bank by 70.4% during the 3rd quarter. Arkadios Wealth Advisors now owns 2,236 shares of the financial services provider’s stock worth $442,000 after acquiring an additional 924 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

Insider Transactions at M&T Bank

In other news, Director John P. Barnes sold 17,866 shares of the firm’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $220.81, for a total value of $3,944,991.46. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert E. Sadler, Jr. sold 6,000 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $190.06, for a total value of $1,140,360.00. Following the completion of the sale, the director owned 17,070 shares of the company’s stock, valued at $3,244,324.20. This represents a 26.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 29,116 shares of company stock worth $6,091,776 in the last three months. Insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

MTB has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their price objective on M&T Bank from $220.00 to $230.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 17th. Wall Street Zen cut M&T Bank from a “hold” rating to a “sell” rating in a report on Friday, January 23rd. Truist Financial set a $230.00 price target on shares of M&T Bank in a research report on Tuesday, January 20th. Barclays raised their price objective on shares of M&T Bank from $220.00 to $236.00 and gave the company an “equal weight” rating in a research report on Monday, January 5th. Finally, The Goldman Sachs Group boosted their target price on shares of M&T Bank from $230.00 to $231.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $224.29.

M&T Bank Stock Performance

M&T Bank stock opened at $217.48 on Wednesday. The company has a market cap of $33.42 billion, a PE ratio of 12.76, a PEG ratio of 0.94 and a beta of 0.59. The company has a current ratio of 0.90, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. M&T Bank Corporation has a 1 year low of $150.75 and a 1 year high of $222.18. The company’s 50-day moving average is $203.40 and its two-hundred day moving average is $195.76.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.72 EPS for the quarter, topping the consensus estimate of $4.47 by $0.25. M&T Bank had a net margin of 21.55% and a return on equity of 10.94%. The company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter in the previous year, the company earned $3.77 EPS. Equities analysts anticipate that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

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

About M&T Bank

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.