Nomura Asset Management Co. Ltd. Has $9.52 Million Holdings in M&T Bank Co. (NYSE:MTB)

Nomura Asset Management Co. Ltd. increased its holdings in shares of M&T Bank Co. (NYSE:MTB) by 0.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 50,638 shares of the financial services provider’s stock after acquiring an additional 363 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in M&T Bank were worth $9,520,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Townsquare Capital LLC bought a new position in shares of M&T Bank in the 3rd quarter valued at about $230,000. Glenmede Trust Co. NA grew its stake in M&T Bank by 2.8% in the third quarter. Glenmede Trust Co. NA now owns 8,873 shares of the financial services provider’s stock valued at $1,580,000 after purchasing an additional 238 shares in the last quarter. Fiduciary Trust Co increased its position in shares of M&T Bank by 20.9% during the 3rd quarter. Fiduciary Trust Co now owns 3,207 shares of the financial services provider’s stock worth $571,000 after purchasing an additional 554 shares during the last quarter. Public Sector Pension Investment Board raised its stake in shares of M&T Bank by 2.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 29,095 shares of the financial services provider’s stock worth $5,182,000 after purchasing an additional 800 shares in the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of M&T Bank in the 3rd quarter valued at approximately $219,000. Institutional investors own 84.68% of the company’s stock.

Insider Buying and Selling at M&T Bank

In other news, EVP Christopher E. Kay sold 1,738 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the sale, the executive vice president now owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. This represents a 13.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.53% of the company’s stock.

M&T Bank Stock Down 2.5 %

NYSE MTB opened at $175.21 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The company has a market cap of $28.78 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 1.38 and a beta of 0.74. The company has a 50 day moving average of $189.44 and a 200-day moving average of $192.80. M&T Bank Co. has a 1-year low of $133.03 and a 1-year 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 for the quarter, beating analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same quarter in the prior year, the business posted $2.74 earnings per share. On average, equities research analysts expect that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

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

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be paid a dividend of $1.35 per share. 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 3.08%. M&T Bank’s payout ratio is 36.91%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MTB shares. Barclays boosted their target price on shares of M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Keefe, Bruyette & Woods boosted their price objective on shares of M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Wells Fargo & Company cut their target price on shares of M&T Bank from $205.00 to $185.00 and set an “underweight” rating for the company in a research note on Friday. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Evercore ISI dropped their price objective on M&T Bank from $234.00 to $205.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $218.79.

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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.