Mitsubishi UFJ Trust & Banking Corp Has $14.73 Million Holdings in M&T Bank Corporation $MTB

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in M&T Bank Corporation (NYSE:MTB) by 15.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,098 shares of the financial services provider’s stock after selling 13,633 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in M&T Bank were worth $14,728,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. LSV Asset Management lifted its holdings in shares of M&T Bank by 19.9% in the 3rd quarter. LSV Asset Management now owns 342,400 shares of the financial services provider’s stock valued at $67,665,000 after purchasing an additional 56,750 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its stake in M&T Bank by 120.3% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 17,925 shares of the financial services provider’s stock valued at $3,542,000 after buying an additional 9,788 shares during the period. Plato Investment Management Ltd increased its stake in shares of M&T Bank by 54.3% during the third quarter. Plato Investment Management Ltd now owns 8,251 shares of the financial services provider’s stock worth $1,618,000 after acquiring an additional 2,905 shares during the period. Fisher Asset Management LLC raised its stake in shares of M&T Bank by 64.0% during the 3rd quarter. Fisher Asset Management LLC now owns 36,215 shares of the financial services provider’s stock worth $7,157,000 after buying an additional 14,135 shares in the last quarter. Finally, Allstate Corp acquired a new stake in M&T Bank in the third quarter valued at $1,114,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

MTB has been the topic of several recent analyst reports. Argus upped their target price on shares of M&T Bank from $230.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Robert W. Baird upped their price target on M&T Bank from $230.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, April 16th. Evercore cut shares of M&T Bank from an “outperform” rating to a “hold” rating and lifted their target price for the stock from $210.00 to $225.00 in a research report on Tuesday, January 6th. JPMorgan Chase & Co. reduced their price target on shares of M&T Bank from $231.50 to $227.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, TD Cowen reiterated a “buy” rating on shares of M&T Bank in a research report on Wednesday, January 7th. Eight investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $235.32.

M&T Bank Stock Performance

Shares of NYSE MTB opened at $218.92 on Friday. The company has a 50-day simple moving average of $212.35 and a 200-day simple moving average of $205.86. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.88 and a quick ratio of 0.96. The company has a market cap of $32.62 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 1.10 and a beta of 0.60. M&T Bank Corporation has a 12 month low of $167.35 and a 12 month high of $239.00.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.16. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.43 billion. M&T Bank had a net margin of 22.07% and a return on equity of 11.35%. During the same quarter in the prior year, the firm posted $3.32 earnings per share. On average, equities analysts anticipate that M&T Bank Corporation will post 18.64 earnings per share for the current year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 1st will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.7%. The ex-dividend date is Monday, June 1st. M&T Bank’s dividend payout ratio is presently 33.59%.

M&T Bank announced that its Board of Directors has initiated a stock buyback plan on Tuesday, March 31st that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 16.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, Director John P. Barnes sold 21,193 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $235.85, for a total transaction of $4,998,369.05. Following the completion of the transaction, the director owned 15,142 shares of the company’s stock, valued at $3,571,240.70. This represents a 58.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kirk W. Walters sold 909 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $227.37, for a total transaction of $206,679.33. Following the completion of the sale, the director directly owned 5,976 shares in the company, valued at $1,358,763.12. This represents a 13.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 30,339 shares of company stock worth $7,045,853. 0.44% of the stock is owned by company insiders.

About M&T Bank

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.