Mitsubishi UFJ Asset Management Co. Ltd. Acquires 15,468 Shares of M&T Bank Co. (NYSE:MTB)

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in M&T Bank Co. (NYSE:MTB - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 263,641 shares of the financial services provider's stock after buying an additional 15,468 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.16% of M&T Bank worth $50,498,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. State Street Corp increased its stake in M&T Bank by 6.4% during the 3rd quarter. State Street Corp now owns 8,773,439 shares of the financial services provider's stock worth $1,562,725,000 after acquiring an additional 527,854 shares during the period. Charles Schwab Investment Management Inc. increased its position 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 worth $994,522,000 after purchasing an additional 252,583 shares during the period. Geode Capital Management LLC raised its stake 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 valued at $768,824,000 after purchasing an additional 66,337 shares in the last quarter. Amundi lifted its position in M&T Bank by 43.5% during the fourth quarter. Amundi now owns 807,339 shares of the financial services provider's stock worth $154,315,000 after purchasing an additional 244,709 shares during the period. Finally, Los Angeles Capital Management LLC grew its stake in M&T Bank by 1.9% during the fourth quarter. Los Angeles Capital Management LLC now owns 604,317 shares of the financial services provider's stock worth $113,618,000 after buying an additional 11,365 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

In other news, EVP Christopher E. Kay sold 1,738 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the sale, the executive vice president now directly owns 10,751 shares in the company, valued at $1,852,827.34. This represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.53% of the stock is owned by insiders.

M&T Bank Trading Up 0.9 %

NYSE MTB traded up $1.63 on Wednesday, hitting $178.00. The company's stock had a trading volume of 243,455 shares, compared to its average volume of 1,371,651. The company's 50-day moving average is $188.64 and its 200 day moving average is $192.95. The firm has a market cap of $29.24 billion, a PE ratio of 12.17, a PEG ratio of 1.38 and a beta of 0.74. M&T Bank Co. has a 1-year low of $133.03 and a 1-year high of $225.70. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, beating analysts' consensus estimates of $3.70 by $0.22. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same period in the prior year, the business earned $2.74 earnings per share. As a group, analysts predict that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank announced that its Board of Directors has authorized a share buyback program on Wednesday, January 22nd that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is undervalued.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were given a dividend of $1.35 per share. The ex-dividend date was Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.03%. M&T Bank's dividend payout ratio (DPR) is 36.91%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Barclays boosted their target price on shares of M&T Bank from $228.00 to $235.00 and gave the company an "equal weight" rating in a research report on Monday, January 6th. DA Davidson lifted their price objective on shares of M&T Bank from $222.00 to $223.00 and gave the company a "neutral" rating in a research note on Friday, January 17th. Wells Fargo & Company cut their target price on M&T Bank from $205.00 to $185.00 and set an "underweight" rating for the company in a research note on Friday, March 28th. Morgan Stanley reduced their target price on M&T Bank from $269.00 to $253.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Finally, Keefe, Bruyette & Woods boosted their price target on M&T Bank from $205.00 to $221.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $218.79.

About M&T Bank

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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.