Nomura Asset Management Co. Ltd. Purchases 2,883 Shares of M&T Bank Co. (NYSE:MTB)

Nomura Asset Management Co. Ltd. grew its position in M&T Bank Co. (NYSE:MTB - Free Report) by 6.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 50,275 shares of the financial services provider's stock after purchasing an additional 2,883 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in M&T Bank were worth $8,955,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Y Intercept Hong Kong Ltd acquired a new position in shares of M&T Bank in the 3rd quarter valued at about $332,000. MML Investors Services LLC lifted its stake in M&T Bank by 13.4% in the third quarter. MML Investors Services LLC now owns 6,852 shares of the financial services provider's stock valued at $1,220,000 after buying an additional 809 shares during the period. Zurich Insurance Group Ltd FI bought a new position in shares of M&T Bank during the 3rd quarter worth approximately $44,422,000. EP Wealth Advisors LLC acquired a new stake in shares of M&T Bank during the 3rd quarter worth approximately $1,148,000. Finally, State Street Corp lifted its position in shares of 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 valued at $1,562,725,000 after acquiring an additional 527,854 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, CEO Rene F. Jones sold 23,071 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $193.88, for a total transaction of $4,473,005.48. Following the sale, the chief executive officer now owns 77,226 shares in the company, valued at $14,972,576.88. This represents a 23.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John P. Barnes sold 20,000 shares of the firm's stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $193.97, for a total value of $3,879,400.00. Following the completion of the transaction, the director now directly owns 49,960 shares of the company's stock, valued at $9,690,741.20. The trade was a 28.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 84,994 shares of company stock valued at $17,211,278 over the last three months. 0.82% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MTB. Compass Point lifted their price target on shares of M&T Bank from $220.00 to $250.00 and gave the company a "neutral" rating in a research note on Tuesday. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $223.50 target price (up from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. Wells Fargo & Company upped their target price on M&T Bank from $190.00 to $205.00 and gave the stock an "underweight" rating in a research report on Friday, November 15th. Bank of America boosted their price target on shares of M&T Bank from $188.00 to $218.00 and gave the company a "buy" rating in a research note on Friday, October 18th. Finally, Wolfe Research raised shares of M&T Bank from a "peer perform" rating to an "outperform" rating and set a $210.00 price objective on the stock in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $211.58.

M&T Bank Stock Performance

Shares of M&T Bank stock traded down $2.02 on Thursday, reaching $199.95. 1,714,681 shares of the company traded hands, compared to its average volume of 1,040,342. The company has a 50 day moving average of $202.08 and a 200 day moving average of $175.20. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99. M&T Bank Co. has a 52 week low of $128.31 and a 52 week high of $225.70. The firm has a market capitalization of $33.18 billion, a PE ratio of 14.87, a PEG ratio of 2.96 and a beta of 0.76.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.60 by $0.48. The business had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. Equities analysts forecast that M&T Bank Co. will post 14.63 earnings per share for the current year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Monday, December 2nd. M&T Bank's dividend payout ratio is currently 39.97%.

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.