Sumitomo Mitsui Trust Holdings Inc. Has $63.31 Million Stake in M&T Bank Co. (NYSE:MTB)

Sumitomo Mitsui Trust Holdings Inc. decreased its position in shares of M&T Bank Co. (NYSE:MTB) by 6.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 461,811 shares of the financial services provider’s stock after selling 32,284 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.28% of M&T Bank worth $63,305,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of M&T Bank by 1.3% in the first quarter. Vanguard Group Inc. now owns 48,056,301 shares of the financial services provider’s stock valued at $960,645,000 after purchasing an additional 595,930 shares in the last quarter. BlackRock Inc. boosted its stake in M&T Bank by 1.1% in the first quarter. BlackRock Inc. now owns 36,670,981 shares of the financial services provider’s stock valued at $733,054,000 after acquiring an additional 402,530 shares during the last quarter. State Street Corp grew its holdings in M&T Bank by 0.7% during the 1st quarter. State Street Corp now owns 7,985,096 shares of the financial services provider’s stock worth $954,778,000 after acquiring an additional 55,623 shares during the period. JPMorgan Chase & Co. raised its position in shares of M&T Bank by 10.4% during the 1st quarter. JPMorgan Chase & Co. now owns 6,095,725 shares of the financial services provider’s stock valued at $728,866,000 after acquiring an additional 571,869 shares during the last quarter. Finally, Virtu Financial LLC raised its position in shares of M&T Bank by 17,405.3% during the 1st quarter. Virtu Financial LLC now owns 5,273,474 shares of the financial services provider’s stock valued at $105,417,000 after acquiring an additional 5,243,349 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Price Performance

Shares of NYSE MTB opened at $139.30 on Friday. The firm has a market cap of $23.21 billion, a PE ratio of 9.42, a PEG ratio of 1.26 and a beta of 0.80. The company has a current ratio of 0.94, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. M&T Bank Co. has a 1-year low of $108.53 and a 1-year high of $148.23. The company has a fifty day moving average price of $139.76 and a 200 day moving average price of $132.81.

M&T Bank (NYSE:MTB) last announced its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same period in the previous year, the company posted $4.09 earnings per share. Research analysts predict that M&T Bank Co. will post 13.93 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were given a dividend of $1.30 per share. The ex-dividend date was Friday, March 1st. This represents a $5.20 annualized dividend and a yield of 3.73%. M&T Bank’s dividend payout ratio (DPR) is presently 35.16%.

Wall Street Analysts Forecast Growth

Several analysts have commented on MTB shares. Keefe, Bruyette & Woods upped their target price on shares of M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a research report on Tuesday. Barclays upped their target price on shares of M&T Bank from $150.00 to $170.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $160.00 target price on shares of M&T Bank in a research report on Tuesday. Bank of America upped their target price on shares of M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Wells Fargo & Company upped their target price on shares of M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $158.48.

Insiders Place Their Bets

In other M&T Bank news, EVP Doris P. Meister sold 1,675 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $137.91, for a total transaction of $230,999.25. Following the sale, the executive vice president now directly owns 8,961 shares of the company’s stock, valued at approximately $1,235,811.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other M&T Bank news, EVP Doris P. Meister sold 1,675 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $137.91, for a total transaction of $230,999.25. Following the sale, the executive vice president now directly owns 8,961 shares of the company’s stock, valued at approximately $1,235,811.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Doris P. Meister sold 1,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $132.30, for a total transaction of $132,300.00. Following the sale, the executive vice president now directly owns 7,274 shares in the company, valued at $962,350.20. The disclosure for this sale can be found here. Insiders have sold 35,481 shares of company stock valued at $5,114,624 in the last three months. 0.82% of the stock is currently owned by corporate insiders.

M&T Bank Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.