California Public Employees Retirement System Sells 1,250 Shares of M&T Bank Co. (NYSE:MTB)

California Public Employees Retirement System cut its holdings in M&T Bank Co. (NYSE:MTB) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 314,361 shares of the financial services provider’s stock after selling 1,250 shares during the period. California Public Employees Retirement System owned 0.19% of M&T Bank worth $43,093,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Burns J W & Co. Inc. NY increased its stake in M&T Bank by 1.3% during the fourth quarter. Burns J W & Co. Inc. NY now owns 6,034 shares of the financial services provider’s stock valued at $827,000 after acquiring an additional 80 shares during the period. Robinson Value Management Ltd. increased its stake in M&T Bank by 0.3% during the third quarter. Robinson Value Management Ltd. now owns 33,542 shares of the financial services provider’s stock valued at $4,241,000 after acquiring an additional 85 shares during the period. Sunbelt Securities Inc. increased its stake in M&T Bank by 41.7% during the third quarter. Sunbelt Securities Inc. now owns 340 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 100 shares during the period. CI Investments Inc. increased its stake in M&T Bank by 2.9% during the third quarter. CI Investments Inc. now owns 3,722 shares of the financial services provider’s stock valued at $471,000 after acquiring an additional 104 shares during the period. Finally, Steamboat Capital Partners LLC increased its stake in M&T Bank by 1.9% during the third quarter. Steamboat Capital Partners LLC now owns 5,823 shares of the financial services provider’s stock valued at $736,000 after acquiring an additional 109 shares during the period. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Stock Down 0.4 %

NYSE:MTB opened at $146.38 on Friday. The stock’s fifty day moving average price is $141.00 and its two-hundred day moving average price is $133.77. M&T Bank Co. has a 52-week low of $108.53 and a 52-week high of $148.93. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.94. The company has a market cap of $24.39 billion, a price-to-earnings ratio of 9.90, a P/E/G ratio of 1.24 and a beta of 0.80.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11). M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. 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 prior year, the company posted $4.09 EPS. On average, analysts anticipate that M&T Bank Co. will post 13.92 EPS for the current year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank’s payout ratio is 35.16%.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, 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 owns 7,274 shares in the company, valued at approximately $962,350.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Doris P. Meister sold 1,675 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total value of $230,999.25. Following the completion of the sale, the executive vice president now owns 8,961 shares in the company, valued at approximately $1,235,811.51. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 owns 7,274 shares of the company’s stock, valued at approximately $962,350.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,119 shares of company stock worth $5,341,012. Insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MTB shares. DA Davidson restated a “neutral” rating and set a $159.00 price target on shares of M&T Bank in a research note on Tuesday, April 16th. JPMorgan Chase & Co. lifted their price objective on M&T Bank from $170.00 to $180.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Keefe, Bruyette & Woods lifted their price objective on M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a report on Tuesday, April 16th. Barclays lifted their price objective on M&T Bank from $150.00 to $170.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. Finally, UBS Group lifted their price objective on M&T Bank from $139.00 to $154.00 in a report on Wednesday, January 17th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, M&T Bank currently has an average rating of “Hold” and an average price target of $158.48.

M&T Bank Profile

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.