M&T Bank Co. (NYSE:MTB) Stock Position Lessened by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its holdings in M&T Bank Co. (NYSE:MTB) by 7.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 189,070 shares of the financial services provider’s stock after selling 15,818 shares during the quarter. New York State Common Retirement Fund’s holdings in M&T Bank were worth $25,918,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. BKM Wealth Management LLC bought a new position in M&T Bank during the fourth quarter valued at about $32,000. Headinvest LLC bought a new position in M&T Bank during the third quarter valued at about $29,000. CVA Family Office LLC bought a new position in M&T Bank during the fourth quarter valued at about $33,000. Planned Solutions Inc. bought a new position in M&T Bank during the fourth quarter valued at about $33,000. Finally, Creative Financial Designs Inc. ADV bought a new position in M&T Bank during the fourth quarter valued at about $33,000. Institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Down 0.4 %

Shares of M&T Bank stock opened at $146.38 on Friday. The stock has a 50-day moving average price of $141.00 and a 200 day moving average price of $133.77. The company has a market cap of $24.39 billion, a P/E ratio of 9.90, a P/E/G ratio of 1.23 and a beta of 0.80. The company has a current ratio of 0.94, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. M&T Bank Co. has a 1 year low of $108.53 and a 1 year high of $148.93.

M&T Bank (NYSE:MTB) last announced 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). The business had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same period in the prior year, the company posted $4.09 earnings per share. As a group, analysts expect that M&T Bank Co. will post 13.92 EPS for the current fiscal year.

M&T Bank Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MTB shares. Jefferies Financial Group decreased their target price on M&T Bank from $154.00 to $151.00 and set a “hold” rating for the company in a research note on Monday, April 8th. Keefe, Bruyette & Woods raised their target price on M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a research note on Tuesday, April 16th. Wedbush reaffirmed an “outperform” rating and set a $170.00 target price on shares of M&T Bank in a research note on Wednesday, April 10th. DA Davidson reaffirmed a “neutral” rating and set a $159.00 target price on shares of M&T Bank in a research note on Tuesday, April 16th. Finally, Evercore ISI upped their target price on M&T Bank from $146.00 to $157.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $158.48.

Insider Buying and Selling

In other news, EVP Doris P. Meister sold 1,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was 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 of the company’s stock, valued at approximately $962,350.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Doris P. Meister sold 1,675 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $137.91, for a total transaction of $230,999.25. Following the completion of the sale, the executive vice president now directly owns 8,961 shares of the company’s stock, valued at approximately $1,235,811.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Doris P. Meister sold 1,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $132.30, for a total value of $132,300.00. Following the sale, the executive vice president now directly owns 7,274 shares of the company’s stock, valued at $962,350.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,119 shares of company stock valued at $5,341,012. 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.