Daiwa Securities Group Inc. Buys 1,507 Shares of M&T Bank Co. (NYSE:MTB)

Daiwa Securities Group Inc. grew its stake in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 7.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 21,952 shares of the financial services provider's stock after buying an additional 1,507 shares during the period. Daiwa Securities Group Inc.'s holdings in M&T Bank were worth $4,127,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. FMR LLC raised its holdings in M&T Bank by 13.9% in the 3rd quarter. FMR LLC now owns 12,349,398 shares of the financial services provider's stock valued at $2,199,675,000 after acquiring an additional 1,508,846 shares in the last quarter. State Street Corp increased its position in shares of M&T Bank by 6.4% during the third quarter. State Street Corp now owns 8,773,439 shares of the financial services provider's stock valued at $1,562,725,000 after purchasing an additional 527,854 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of M&T Bank by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,289,727 shares of the financial services provider's stock valued at $994,522,000 after purchasing an additional 252,583 shares in the last quarter. Geode Capital Management LLC lifted its position in M&T Bank by 1.6% in the third quarter. Geode Capital Management LLC now owns 4,329,814 shares of the financial services provider's stock worth $768,824,000 after purchasing an additional 66,337 shares during the period. Finally, Senvest Management LLC boosted its stake in M&T Bank by 12.3% during the third quarter. Senvest Management LLC now owns 882,841 shares of the financial services provider's stock worth $157,252,000 after buying an additional 96,500 shares in the last quarter. Institutional investors own 84.68% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Piper Sandler increased their target price on M&T Bank from $205.00 to $243.00 and gave the stock an "overweight" rating in a report on Wednesday, November 27th. The Goldman Sachs Group upped their price objective on shares of M&T Bank from $216.00 to $243.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 26th. Morgan Stanley cut their target price on shares of M&T Bank from $269.00 to $253.00 and set an "overweight" rating for the company in a research note on Thursday. Evercore ISI dropped their price target on M&T Bank from $234.00 to $205.00 and set an "outperform" rating for the company in a report on Thursday. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and issued a $223.50 price objective (up previously from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $222.03.

M&T Bank Trading Down 1.0 %

Shares of MTB stock traded down $1.79 on Thursday, reaching $170.28. The company had a trading volume of 1,289,505 shares, compared to its average volume of 1,322,381. The stock has a market cap of $27.98 billion, a PE ratio of 11.64, a PEG ratio of 1.38 and a beta of 0.74. The company has a 50-day moving average of $192.76 and a 200-day moving average of $191.77. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a 12 month low of $133.03 and a 12 month high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, beating the consensus estimate of $3.70 by $0.22. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same period in the prior year, the firm earned $2.74 earnings per share. On average, equities analysts forecast that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Monday, March 3rd. M&T Bank's dividend payout ratio (DPR) is presently 36.91%.

M&T Bank declared that its Board of Directors has authorized a share buyback plan on Wednesday, January 22nd that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is undervalued.

M&T Bank Profile

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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.