Daiwa Securities Group Inc. Purchases 97 Shares of M&T Bank Co. (NYSE:MTB)

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Daiwa Securities Group Inc. increased its position in M&T Bank Co. (NYSE:MTB) by 1.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,278 shares of the financial services provider’s stock after buying an additional 97 shares during the period. Daiwa Securities Group Inc.’s holdings in M&T Bank were worth $834,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Usca Ria LLC purchased a new position in shares of M&T Bank during the third quarter worth approximately $25,000. North Star Investment Management Corp. purchased a new position in M&T Bank during the third quarter valued at approximately $32,000. Webster Bank N. A. purchased a new position in M&T Bank during the second quarter valued at approximately $43,000. HM Payson & Co. purchased a new position in M&T Bank during the second quarter valued at approximately $51,000. Finally, CSat Investment Advisory L.P. increased its holdings in M&T Bank by 305.3% during the second quarter. CSat Investment Advisory L.P. now owns 304 shares of the financial services provider’s stock valued at $52,000 after buying an additional 229 shares during the period. 82.39% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently issued reports on MTB shares. Keefe, Bruyette & Woods lowered shares of M&T Bank from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $168.00 to $160.00 in a report on Friday, October 18th. ValuEngine raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 4th. Cfra lowered shares of M&T Bank to a “hold” rating and cut their price objective for the company from $182.00 to $165.00 in a report on Thursday, October 24th. Jefferies Financial Group lowered shares of M&T Bank from a “buy” rating to a “hold” rating and cut their price objective for the company from $185.00 to $167.00 in a report on Tuesday, October 8th. Finally, Wedbush cut their price objective on shares of M&T Bank from $166.00 to $163.00 and set a “neutral” rating on the stock in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $167.62.

In other news, insider Michael J. Todaro bought 186 shares of the stock in a transaction on Thursday, August 15th. The stock was bought at an average cost of $144.84 per share, for a total transaction of $26,940.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Darren J. King sold 3,968 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $162.59, for a total transaction of $645,157.12. Following the completion of the sale, the chief financial officer now owns 42,295 shares of the company’s stock, valued at $6,876,744.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,466 shares of company stock valued at $4,078,074. 0.54% of the stock is owned by insiders.

MTB traded down $1.56 during trading on Wednesday, hitting $163.92. The stock had a trading volume of 8,332 shares, compared to its average volume of 742,711. The company has a market capitalization of $22.12 billion, a PE ratio of 12.76, a PEG ratio of 1.36 and a beta of 1.11. M&T Bank Co. has a twelve month low of $133.78 and a twelve month high of $176.11. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a 50 day simple moving average of $157.49 and a two-hundred day simple moving average of $160.42.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, October 17th. The financial services provider reported $3.47 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.59 by ($0.12). The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.53 billion. M&T Bank had a net margin of 28.58% and a return on equity of 13.82%. During the same quarter last year, the business earned $3.53 earnings per share. On average, equities research analysts anticipate that M&T Bank Co. will post 13.7 EPS for the current year.

About M&T Bank

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.

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Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

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