Tokio Marine Asset Management Co. Ltd. Boosts Holdings in M&T Bank Corporation (NYSE:MTB)

Tokio Marine Asset Management Co. Ltd. grew its position in shares of M&T Bank Corporation (NYSE:MTB) by 16.1% during the first quarter, HoldingsChannel reports. The firm owned 5,152 shares of the financial services provider’s stock after buying an additional 715 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in M&T Bank were worth $921,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Exchange Traded Concepts LLC raised its stake in shares of M&T Bank by 53.8% during the first quarter. Exchange Traded Concepts LLC now owns 526 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 184 shares during the period. Private Trust Co. NA increased its stake in shares of M&T Bank by 16.5% in the first quarter. Private Trust Co. NA now owns 644 shares of the financial services provider’s stock worth $115,000 after buying an additional 91 shares during the last quarter. Concurrent Investment Advisors LLC bought a new stake in shares of M&T Bank in the first quarter worth $225,000. Kingswood Wealth Advisors LLC increased its stake in shares of M&T Bank by 4.4% in the first quarter. Kingswood Wealth Advisors LLC now owns 2,076 shares of the financial services provider’s stock worth $370,000 after buying an additional 88 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in shares of M&T Bank in the first quarter worth $46,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MTB. Cowen began coverage on shares of M&T Bank in a research note on Wednesday, May 14th. They issued a “buy” rating for the company. Wells Fargo & Company lifted their price target on shares of M&T Bank from $175.00 to $185.00 and gave the stock an “underweight” rating in a research note on Thursday, July 17th. Jefferies Financial Group set a $225.00 price target on shares of M&T Bank and gave the stock a “buy” rating in a research note on Wednesday, May 21st. DA Davidson lifted their price target on shares of M&T Bank from $189.00 to $207.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Finally, Citigroup lifted their price target on shares of M&T Bank from $200.00 to $212.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $212.88.

Insider Buying and Selling

In related news, EVP Peter D’arcy sold 2,461 shares of the company’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $197.31, for a total value of $485,579.91. Following the completion of the sale, the executive vice president owned 9,319 shares of the company’s stock, valued at $1,838,731.89. This represents a 20.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert E. Sadler, Jr. sold 6,700 shares of the company’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $183.52, for a total transaction of $1,229,584.00. Following the completion of the sale, the director directly owned 23,070 shares of the company’s stock, valued at $4,233,806.40. The trade was a 22.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,438 shares of company stock valued at $1,967,346 over the last 90 days. 0.53% of the stock is currently owned by company insiders.

M&T Bank Stock Up 0.4%

M&T Bank stock opened at $194.06 on Friday. The company has a 50-day simple moving average of $191.61 and a 200-day simple moving average of $183.93. The firm has a market capitalization of $30.33 billion, a P/E ratio of 12.57, a P/E/G ratio of 0.95 and a beta of 0.63. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.97 and a current ratio of 0.97. M&T Bank Corporation has a one year low of $150.75 and a one year high of $225.70.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $4.28 EPS for the quarter, topping the consensus estimate of $4.04 by $0.24. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.39 billion. M&T Bank had a net margin of 20.44% and a return on equity of 10.35%. During the same quarter in the prior year, the firm earned $3.73 earnings per share. As a group, equities analysts expect 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 disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 2nd were issued a $1.35 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $5.40 annualized dividend and a yield of 2.8%. M&T Bank’s dividend payout ratio is presently 34.97%.

About M&T Bank

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.