M&T Bank Co. (NYSE:MTB) Shares Sold by Strs Ohio

Strs Ohio decreased its stake in M&T Bank Co. (NYSE:MTB) by 9.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 197,066 shares of the financial services provider’s stock after selling 19,934 shares during the period. Strs Ohio owned approximately 0.12% of M&T Bank worth $27,013,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MTB. Vanguard Group Inc. raised its position in M&T Bank by 1.3% during the first quarter. Vanguard Group Inc. now owns 48,056,301 shares of the financial services provider’s stock worth $960,645,000 after acquiring an additional 595,930 shares during the last quarter. BlackRock Inc. grew its holdings in M&T Bank by 1.1% in the first quarter. BlackRock Inc. now owns 36,670,981 shares of the financial services provider’s stock valued at $733,054,000 after purchasing an additional 402,530 shares during the period. State Street Corp grew its holdings in M&T Bank by 0.7% in the first quarter. State Street Corp now owns 7,985,096 shares of the financial services provider’s stock valued at $954,778,000 after purchasing an additional 55,623 shares during the period. JPMorgan Chase & Co. grew its holdings in M&T Bank by 10.4% in the first quarter. JPMorgan Chase & Co. now owns 6,095,725 shares of the financial services provider’s stock valued at $728,866,000 after purchasing an additional 571,869 shares during the period. Finally, Virtu Financial LLC grew its holdings in M&T Bank by 17,405.3% in the first quarter. Virtu Financial LLC now owns 5,273,474 shares of the financial services provider’s stock valued at $105,417,000 after purchasing an additional 5,243,349 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MTB shares. JPMorgan Chase & Co. boosted their target price on shares of M&T Bank from $160.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. Piper Sandler lowered their target price on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a report on Friday, January 19th. Wedbush reiterated an “outperform” rating and set a $170.00 price objective on shares of M&T Bank in a research note on Wednesday, April 10th. Morgan Stanley boosted their price objective on shares of M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $160.00 price objective on shares of M&T Bank in a research note on Friday, January 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, M&T Bank currently has an average rating of “Hold” and a consensus price target of $155.21.

M&T Bank Trading Up 4.7 %

NYSE MTB opened at $140.88 on Tuesday. The company’s fifty day simple moving average is $139.33 and its 200-day simple moving average is $132.65. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $148.23. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The stock has a market cap of $23.47 billion, a P/E ratio of 8.93, a PEG ratio of 1.24 and a beta of 0.80.

M&T Bank (NYSE:MTB) last posted its earnings results on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). M&T Bank had a return on equity of 11.59% and a net margin of 21.49%. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period in the previous year, the firm posted $4.09 earnings per share. Equities research analysts predict that M&T Bank Co. will post 13.89 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were issued a $1.30 dividend. The ex-dividend date was Friday, March 1st. This represents a $5.20 annualized dividend and a yield of 3.69%. M&T Bank’s dividend payout ratio is presently 32.95%.

Insider Activity at M&T Bank

In related news, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the sale, the director now directly owns 6,367 shares of the company’s stock, valued at $923,215. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the sale, the director now directly owns 6,367 shares of the company’s stock, valued at $923,215. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Doris P. Meister sold 1,000 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $132.30, for a total transaction of $132,300.00. Following the completion of the sale, the executive vice president now directly owns 7,274 shares in the company, valued at $962,350.20. The disclosure for this sale can be found here. Insiders have sold 35,481 shares of company stock valued at $5,114,624 over the last ninety days. Corporate insiders own 0.82% of the company’s stock.

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.