Meiji Yasuda Asset Management Co Ltd. Purchases 446 Shares of M&T Bank Co. (NYSE:MTB)

Meiji Yasuda Asset Management Co Ltd. lifted its position in M&T Bank Co. (NYSE:MTB) by 3.3% during the second quarter, Holdings Channel reports. The institutional investor owned 14,153 shares of the financial services provider’s stock after buying an additional 446 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in M&T Bank were worth $2,142,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Principal Securities Inc. acquired a new position in shares of M&T Bank during the fourth quarter worth $34,000. Jump Financial LLC acquired a new stake in M&T Bank in the 4th quarter worth approximately $203,000. Clearbridge Investments LLC boosted its stake in M&T Bank by 0.7% in the 4th quarter. Clearbridge Investments LLC now owns 344,993 shares of the financial services provider’s stock worth $47,292,000 after purchasing an additional 2,529 shares in the last quarter. Corient Private Wealth LLC grew its position in M&T Bank by 93.5% during the 4th quarter. Corient Private Wealth LLC now owns 48,351 shares of the financial services provider’s stock worth $6,628,000 after purchasing an additional 23,362 shares during the last quarter. Finally, Trexquant Investment LP acquired a new position in M&T Bank during the 4th quarter valued at approximately $737,000. Institutional investors own 84.68% of the company’s stock.

M&T Bank Price Performance

NYSE:MTB opened at $179.86 on Friday. The stock has a market capitalization of $30.01 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 3.32 and a beta of 0.76. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $180.19. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.44. The stock’s 50-day moving average price is $166.98 and its 200-day moving average price is $153.16.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, topping the consensus estimate of $3.50 by $0.23. The business had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $2.27 billion. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. During the same period in the prior year, the company posted $5.12 EPS. As a group, equities analysts expect that M&T Bank Co. will post 14.24 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.00%. M&T Bank’s dividend payout ratio is currently 36.51%.

Insider Buying and Selling

In related news, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total value of $1,720,300.00. Following the sale, the director now directly owns 44,902 shares in the company, valued at approximately $7,724,491.06. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Vice Chairman Gary N. Geisel sold 500 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total value of $86,250.00. Following the completion of the sale, the insider now directly owns 16,429 shares in the company, valued at $2,834,002.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Denis J. Salamone sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the completion of the transaction, the director now directly owns 44,902 shares in the company, valued at $7,724,491.06. The disclosure for this sale can be found here. Insiders sold a total of 32,699 shares of company stock worth $5,115,349 in the last 90 days. Insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company lowered shares of M&T Bank from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $170.00 to $165.00 in a report on Thursday, August 15th. Keefe, Bruyette & Woods boosted their price target on M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a research note on Friday, July 19th. Jefferies Financial Group raised their price objective on M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. raised shares of M&T Bank from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $183.00 to $215.00 in a research report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $175.85.

About M&T Bank

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.