Daiwa Securities Group Inc. Increases Stock Position in M&T Bank Co. (NYSE:MTB)

Daiwa Securities Group Inc. grew its holdings in shares of M&T Bank Co. (NYSE:MTB) by 7.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,952 shares of the financial services provider’s stock after buying an additional 1,507 shares during the period. Daiwa Securities Group Inc.’s holdings in M&T Bank were worth $4,127,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MTB. Ashton Thomas Securities LLC purchased a new stake in M&T Bank in the third quarter worth about $32,000. Venturi Wealth Management LLC boosted its position in shares of M&T Bank by 68.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 488 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 198 shares in the last quarter. Apollon Wealth Management LLC grew its stake in shares of M&T Bank by 21.1% in the 3rd quarter. Apollon Wealth Management LLC now owns 2,678 shares of the financial services provider’s stock worth $477,000 after buying an additional 467 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in M&T Bank by 8.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 467,801 shares of the financial services provider’s stock valued at $83,325,000 after buying an additional 36,822 shares in the last quarter. Finally, Aptus Capital Advisors LLC raised its stake in M&T Bank by 5.8% during the third quarter. Aptus Capital Advisors LLC now owns 2,072 shares of the financial services provider’s stock valued at $369,000 after buying an additional 114 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Trading Up 0.6 %

M&T Bank stock opened at $172.18 on Thursday. M&T Bank Co. has a 52-week low of $133.03 and a 52-week high of $225.70. The company has a market cap of $28.29 billion, a P/E ratio of 11.77, a P/E/G ratio of 1.38 and a beta of 0.74. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The business has a 50-day simple moving average of $193.13 and a two-hundred day simple moving average of $191.92.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter last year, the business earned $2.74 earnings per share. Analysts predict that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be issued a $1.35 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 3.14%. M&T Bank’s dividend payout ratio is currently 36.91%.

M&T Bank announced that its board has initiated a stock buyback plan on Wednesday, January 22nd that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MTB. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $223.50 target price (up from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. Piper Sandler lifted their target price on shares of M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Barclays increased their price target on shares of M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Finally, Citigroup lowered shares of M&T Bank from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $220.00 to $230.00 in a report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, M&T Bank presently has a consensus 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.