M&T Bank Co. (NYSE:MTB) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its position in M&T Bank Co. (NYSE:MTB) by 9.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 425,147 shares of the financial services provider’s stock after selling 42,654 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.26% of M&T Bank worth $79,932,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. raised its stake in M&T Bank by 281.1% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 785 shares of the financial services provider’s stock valued at $148,000 after acquiring an additional 579 shares in the last quarter. Silver Oak Securities Incorporated raised its stake in shares of M&T Bank by 246.1% during the fourth quarter. Silver Oak Securities Incorporated now owns 3,385 shares of the financial services provider’s stock valued at $638,000 after purchasing an additional 2,407 shares in the last quarter. Bleakley Financial Group LLC lifted its holdings in M&T Bank by 3.9% in the fourth quarter. Bleakley Financial Group LLC now owns 3,535 shares of the financial services provider’s stock worth $665,000 after purchasing an additional 134 shares during the period. Deltec Asset Management LLC grew its position in M&T Bank by 33.3% in the 4th quarter. Deltec Asset Management LLC now owns 2,000 shares of the financial services provider’s stock valued at $376,000 after buying an additional 500 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of M&T Bank by 21.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 135,451 shares of the financial services provider’s stock worth $25,631,000 after buying an additional 23,679 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

Insider Buying and Selling at M&T Bank

In related news, EVP Michael J. Todaro sold 4,786 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $214.10, for a total value of $1,024,682.60. Following the completion of the sale, the executive vice president now owns 2,787 shares of the company’s stock, valued at approximately $596,696.70. The trade was a 63.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Tracy S. Woodrow sold 2,121 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total value of $468,210.75. Following the completion of the transaction, the executive vice president now owns 5,141 shares in the company, valued at $1,134,875.75. This represents a 29.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,397 shares of company stock worth $6,379,459 over the last 90 days. 0.82% of the stock is currently owned by corporate insiders.

M&T Bank Price Performance

Shares of MTB opened at $200.59 on Monday. The business’s 50-day moving average is $197.10 and its 200-day moving average is $188.04. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.99. The company has a market capitalization of $33.28 billion, a price-to-earnings ratio of 13.71, a P/E/G ratio of 1.42 and a beta of 0.79. M&T Bank Co. has a fifty-two week low of $129.36 and a fifty-two week high of $225.70.

M&T Bank (NYSE:MTB) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same period in the prior year, the business posted $2.74 earnings per share. Equities research analysts expect that M&T Bank Co. will post 16.56 EPS for the current fiscal year.

M&T Bank declared that its board has approved a stock buyback program on Wednesday, January 22nd that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.69%. M&T Bank’s payout ratio is 36.91%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MTB. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. DA Davidson boosted their price objective on M&T Bank from $222.00 to $223.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Wells Fargo & Company raised their target price on M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a research note on Friday, November 15th. Royal Bank of Canada boosted their price target on shares of M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Finally, Citigroup lowered shares of M&T Bank from a “buy” rating to a “neutral” rating and raised their price objective for the company from $220.00 to $230.00 in a research report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $221.68.

M&T Bank 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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.