Sumitomo Mitsui Asset Management Company LTD boosted its position in shares of M&T Bank Co. (NYSE:MTB) by 0.4% in the first quarter, Holdings Channel reports. The fund owned 55,061 shares of the financial services provider’s stock after acquiring an additional 209 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in M&T Bank were worth $8,645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently added to or reduced their stakes in the company. First Hawaiian Bank grew its stake in M&T Bank by 111.7% during the first quarter. First Hawaiian Bank now owns 4,265 shares of the financial services provider’s stock worth $669,000 after buying an additional 2,250 shares during the last quarter. Domani Wealth LLC acquired a new position in shares of M&T Bank during the first quarter worth approximately $217,000. Baltimore Washington Financial Advisors Inc. acquired a new position in shares of M&T Bank during the first quarter worth approximately $313,000. Banco Santander S.A. acquired a new position in shares of M&T Bank during the fourth quarter worth approximately $23,961,000. Finally, UMB Bank N A MO lifted its position in shares of M&T Bank by 10.4% during the fourth quarter. UMB Bank N A MO now owns 2,041 shares of the financial services provider’s stock worth $292,000 after purchasing an additional 192 shares in the last quarter. 82.10% of the stock is owned by hedge funds and other institutional investors.
NYSE MTB traded up $2.73 during trading hours on Thursday, hitting $164.04. The company’s stock had a trading volume of 4,891 shares, compared to its average volume of 835,342. M&T Bank Co. has a twelve month low of $133.78 and a twelve month high of $185.61. The firm has a market capitalization of $22.01 billion, a P/E ratio of 12.78, a P/E/G ratio of 1.47 and a beta of 1.08. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.06 and a quick ratio of 1.06.
M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.30 by $0.05. M&T Bank had a net margin of 30.84% and a return on equity of 14.46%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period in the prior year, the business posted $2.23 earnings per share. Sell-side analysts expect that M&T Bank Co. will post 14.61 EPS for the current fiscal year.
A number of brokerages have recently issued reports on MTB. Wedbush upped their target price on shares of M&T Bank from $150.00 to $155.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. UBS Group set a $169.00 price objective on shares of M&T Bank and gave the company a “hold” rating in a report on Tuesday, April 2nd. ValuEngine lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a report on Thursday, March 21st. Barclays restated a “buy” rating and issued a $217.00 price objective on shares of M&T Bank in a report on Wednesday, April 17th. Finally, Robert W. Baird lowered shares of M&T Bank from an “outperform” rating to a “neutral” rating and set a $175.00 price objective on the stock. in a report on Thursday, February 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. M&T Bank presently has a consensus rating of “Hold” and an average target price of $179.25.
In other M&T Bank news, insider Robert J. Bojdak sold 1,638 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $170.03, for a total value of $278,509.14. Following the sale, the insider now directly owns 20,199 shares in the company, valued at $3,434,435.97. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gary N. Geisel sold 1,001 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $173.00, for a total transaction of $173,173.00. Following the completion of the sale, the director now owns 17,512 shares in the company, valued at $3,029,576. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,221 shares of company stock worth $2,259,658. Company insiders own 0.54% of the company’s stock.
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M&T Bank Profile
M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.
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