Daiwa Securities Group Inc. acquires 396 shares of M&T Bank Co. (NYSE: MTB)


Daiwa Securities Group Inc. increased its position in M&T Bank Co. (NYSE: MTB – Get Rating) by 5.3% in the first quarter, according to its latest 13F filing with the Securities and Exchange Commission. The company held 7,802 shares of the financial services provider after acquiring 396 additional shares during the quarter. Daiwa Securities Group Inc.’s holdings in M&T Bank were worth $1,322,000 when it last filed with the SEC.

Other hedge funds have also recently changed their holdings in the company. Riverview Trust Co bought a new position in M&T Bank shares during Q1 for a value of approximately $27,000. CVA Family Office LLC acquired a new stake in shares of M&T Bank during the fourth quarter at a value of $31,000. Bank of New Hampshire acquired a new equity stake in M&T Bank during the first quarter at a value of $34,000. Cordasco Financial Network bought a new position in M&T Bank during the first quarter worth approximately $34,000. Finally, Widmann Financial Services Inc. bought a new position in M&T Bank during the fourth quarter worth approximately $37,000. Institutional investors hold 87.61% of the company’s shares.

M&T Bank Price Performance

M&T Bank shares opened at $168.96 on Friday. M&T Bank Co. has a 12-month low of $128.46 and a 12-month high of $186.95. The stock’s 50-day moving average is $166.13 and its 200-day moving average is $171.08. The company has a current ratio of 0.93, a quick ratio of 1.05 and a debt ratio of 0.13. The company has a market capitalization of $30.31 billion, a price/earnings ratio of 15.70, a PEG ratio of 0.78 and a beta of 0.89.

M&T Bank (NYSE:MTB – Get Rating) last released its results on Wednesday, July 20. The financial services provider reported EPS of $1.08 for the quarter, missing the consensus estimate of $2.75 per ($1.67). M&T Bank posted a net margin of 23.21% and a return on equity of 10.76%. During the same period last year, the company posted earnings per share of $3.45. Equity research analysts expect M&T Bank Co. to post EPS of 15.12 for the current year.

M&T Bank announces dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 30. Shareholders of record on Wednesday, June 1 received a dividend of $1.20. This represents an annualized dividend of $4.80 and a dividend yield of 2.84%. The ex-dividend date was Tuesday, May 31. M&T Bank’s payout ratio is 44.61%.

Insider activity at M&T Bank

Separately, Executive Vice President Christopher E. Kay sold 2,200 shares of the company in a transaction that took place on Friday, June 3. The stock was sold at an average price of $178.83, for a total value of $393,426.00. Following the completion of the sale, the executive vice president now directly owns 5,350 shares of the company, valued at $956,740.50. The sale was disclosed in a filing with the SEC, which is available at this link. In other M&T Bank news, Vice Chairman Kevin J. Pearson sold 5,000 shares of the company in a trade on Tuesday, May 17. The stock was sold at an average price of $169.71, for a total transaction of $848,550.00. Following the completion of the sale, the insider now directly owns 39,008 shares of the company, valued at $6,620,047.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC’s website. Additionally, Executive Vice President Christopher E. Kay sold 2,200 shares of the company in a trade on Friday, June 3. The stock was sold at an average price of $178.83, for a total value of $393,426.00. Following the sale, the executive vice president now owns 5,350 shares of the company, valued at $956,740.50. The disclosure of this sale can be found here. In the past ninety days, insiders have sold 7,725 shares of the company worth $1,335,332. Insiders of the company own 0.73% of the shares of the company.

Analyst upgrades and downgrades

A number of analysts have recently commented on MTB shares. Deutsche Bank Aktiengesellschaft raised its price target on M&T Bank from $180.00 to $200.00 in a Friday, March 25 report. Wolfe Research cut its price target on M&T Bank from $214.00 to $187.00 and set an “outperform” rating on the stock in a Thursday, May 26 report. TheStreet downgraded M&T Bank from a ‘b’ rating to a ‘c+’ rating in a report released on Wednesday. Piper Sandler raised her price target on M&T Bank from $200.00 to $210.00 in a Wednesday, April 20 research report. Finally, Citigroup raised its target price on M&T Bank to $200.00 in a research report on Friday. Five research analysts rated the stock with a hold rating and eight gave the company a buy rating. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $198.71.

About M&T Bank

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M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The Company’s Business Banking segment provides deposit, lending, cash management and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial loans and leases, letters of credit and cash management services to medium and large commercial enterprises.

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Institutional ownership by quarter for M&T Bank (NYSE:MTB)



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