Daiwa Securities Group Inc. Buys 2,194 Shares of M&T Bank Co. (NYSE:MTB)

Daiwa Securities Group Inc. raised its stake in M&T Bank Co. (NYSE:MTB) by 12.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 20,445 shares of the financial services provider’s stock after purchasing an additional 2,194 shares during the quarter. Daiwa Securities Group Inc.’s holdings in M&T Bank were worth $3,642,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MTB. Marshall Wace LLP raised its holdings in shares of M&T Bank by 232.1% during the second quarter. Marshall Wace LLP now owns 676,745 shares of the financial services provider’s stock valued at $102,432,000 after acquiring an additional 472,997 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of M&T Bank by 77.0% during the second quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock valued at $110,993,000 after acquiring an additional 319,051 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of M&T Bank by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock valued at $897,216,000 after acquiring an additional 190,837 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in shares of M&T Bank during the third quarter valued at approximately $24,740,000. Finally, Canoe Financial LP raised its holdings in shares of M&T Bank by 29.4% during the third quarter. Canoe Financial LP now owns 588,302 shares of the financial services provider’s stock valued at $103,200,000 after acquiring an additional 133,748 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on MTB shares. Citigroup downgraded M&T Bank from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $220.00 to $230.00 in a report on Monday. Wells Fargo & Company increased their price objective on M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a report on Friday, November 15th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Wedbush increased their target price on M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Finally, Bank of America increased their target price on M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $206.41.

M&T Bank Trading Up 0.0 %

Shares of NYSE:MTB opened at $220.80 on Thursday. The stock has a market capitalization of $36.64 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 3.13 and a beta of 0.74. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99. The stock’s 50-day simple moving average is $194.82 and its two-hundred day simple moving average is $171.05. M&T Bank Co. has a 52-week low of $123.46 and a 52-week high of $225.70.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, topping the consensus estimate of $3.60 by $0.48. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. The firm had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.30 billion. Analysts expect that M&T Bank Co. will post 14.56 EPS for the current year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.45%. The ex-dividend date is Monday, December 2nd. M&T Bank’s dividend payout ratio (DPR) is presently 39.97%.

Insider Activity at M&T Bank

In other M&T Bank news, Director Denis J. Salamone sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the completion of the transaction, the director now owns 44,902 shares in the company, valued at $7,724,491.06. This trade represents a 18.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John P. Barnes sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $193.97, for a total value of $3,879,400.00. Following the transaction, the director now owns 49,960 shares of the company’s stock, valued at $9,690,741.20. This represents a 28.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,383 shares of company stock valued at $17,925,801. 0.82% of the stock is owned by company insiders.

M&T Bank Company Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.