M&T Bank Co. (NYSE:MTB) Stock Position Boosted by California State Teachers Retirement System

California State Teachers Retirement System boosted its stake in M&T Bank Co. (NYSE:MTBFree Report) by 3.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 271,879 shares of the financial services provider’s stock after buying an additional 8,799 shares during the period. California State Teachers Retirement System owned 0.16% of M&T Bank worth $37,269,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. rhino investment partners Inc bought a new position in shares of M&T Bank during the 4th quarter valued at about $10,655,000. Senvest Management LLC boosted its position in shares of M&T Bank by 2.2% during the 4th quarter. Senvest Management LLC now owns 436,213 shares of the financial services provider’s stock valued at $59,796,000 after purchasing an additional 9,513 shares in the last quarter. Bank of Nova Scotia boosted its position in shares of M&T Bank by 1,155.9% during the 4th quarter. Bank of Nova Scotia now owns 205,392 shares of the financial services provider’s stock valued at $28,154,000 after purchasing an additional 189,038 shares in the last quarter. TFO Wealth Partners LLC boosted its position in shares of M&T Bank by 145,200.0% during the 4th quarter. TFO Wealth Partners LLC now owns 4,359 shares of the financial services provider’s stock valued at $598,000 after purchasing an additional 4,356 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its position in shares of M&T Bank by 0.5% during the 4th quarter. Treasurer of the State of North Carolina now owns 78,441 shares of the financial services provider’s stock valued at $10,753,000 after purchasing an additional 393 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

MTB has been the subject of several recent analyst reports. Wedbush reiterated an “outperform” rating and issued a $170.00 target price on shares of M&T Bank in a report on Wednesday, April 10th. DA Davidson reissued a “neutral” rating and issued a $159.00 price target on shares of M&T Bank in a research report on Tuesday, April 16th. Bank of America increased their price target on shares of M&T Bank from $157.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Keefe, Bruyette & Woods increased their price target on shares of M&T Bank from $162.00 to $170.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 16th. Finally, Morgan Stanley raised their price objective on shares of M&T Bank from $160.00 to $179.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $159.04.

View Our Latest Stock Report on M&T Bank

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the transaction, the director now directly owns 6,367 shares of the company’s stock, valued at $923,215. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the transaction, the director now directly owns 6,367 shares of the company’s stock, valued at $923,215. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kirk W. Walters sold 16,179 shares of M&T Bank stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $148.01, for a total value of $2,394,653.79. Following the completion of the transaction, the director now directly owns 6,348 shares of the company’s stock, valued at $939,567.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 130,359 shares of company stock valued at $19,475,472. 0.82% of the stock is currently owned by company insiders.

M&T Bank Stock Down 1.2 %

MTB opened at $146.51 on Wednesday. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $156.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.00 and a quick ratio of 1.00. The firm’s fifty day moving average price is $146.17 and its two-hundred day moving average price is $139.94. The company has a market capitalization of $24.45 billion, a P/E ratio of 9.91, a P/E/G ratio of 2.90 and a beta of 0.78.

M&T Bank (NYSE:MTBGet Free Report) last posted its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The business had revenue of $2.26 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm earned $4.09 EPS. On average, analysts anticipate that M&T Bank Co. will post 14.04 EPS for the current year.

M&T Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be issued a dividend of $1.35 per share. The ex-dividend date is Monday, June 3rd. This is a boost from M&T Bank’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.69%. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

About M&T Bank

(Free Report)

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.

Further Reading

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

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