M&T Bank Corporation $MTB Stock Position Decreased by Strs Ohio

Strs Ohio lessened its holdings in shares of M&T Bank Corporation (NYSE:MTB) by 15.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 106,282 shares of the financial services provider’s stock after selling 19,462 shares during the period. Strs Ohio’s holdings in M&T Bank were worth $21,414,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MTB. Bank of Jackson Hole Trust grew its position in M&T Bank by 342.9% in the 3rd quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 120 shares during the last quarter. Triumph Capital Management bought a new position in M&T Bank in the 3rd quarter worth about $32,000. Ameriflex Group Inc. grew its position in M&T Bank by 82.4% in the 3rd quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 84 shares during the last quarter. Westside Investment Management Inc. grew its position in M&T Bank by 61.8% in the 3rd quarter. Westside Investment Management Inc. now owns 199 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 76 shares during the last quarter. Finally, Hoese & Co LLP bought a new position in M&T Bank in the 4th quarter worth about $50,000. Institutional investors own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on MTB shares. Jefferies Financial Group upped their target price on shares of M&T Bank from $255.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Barclays upped their target price on shares of M&T Bank from $220.00 to $236.00 and gave the stock an “equal weight” rating in a research report on Monday, January 5th. Wolfe Research cut shares of M&T Bank from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 7th. Morgan Stanley decreased their target price on shares of M&T Bank from $271.00 to $245.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 31st. Finally, DA Davidson upped their target price on shares of M&T Bank from $233.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, April 16th. Eight analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, M&T Bank presently has a consensus rating of “Hold” and a consensus target price of $235.32.

Insider Activity

In other news, EVP Michael A. Wisler sold 8,237 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $223.48, for a total value of $1,840,804.76. Following the completion of the transaction, the executive vice president directly owned 4,643 shares in the company, valued at $1,037,617.64. This trade represents a 63.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kirk W. Walters sold 909 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $227.37, for a total transaction of $206,679.33. Following the completion of the transaction, the director owned 5,976 shares of the company’s stock, valued at $1,358,763.12. This trade represents a 13.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 30,339 shares of company stock worth $7,045,853 over the last three months. Corporate insiders own 0.44% of the company’s stock.

M&T Bank Trading Up 0.0%

M&T Bank stock opened at $216.51 on Monday. The firm has a 50 day simple moving average of $212.35 and a 200-day simple moving average of $206.16. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.88 and a quick ratio of 0.96. The stock has a market capitalization of $32.26 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 1.10 and a beta of 0.59. M&T Bank Corporation has a 12-month low of $172.33 and a 12-month high of $239.00.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.16. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.43 billion. M&T Bank had a net margin of 22.07% and a return on equity of 11.35%. During the same period last year, the firm posted $3.32 earnings per share. As a group, equities research analysts expect that M&T Bank Corporation will post 18.64 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st will be issued a $1.50 dividend. The ex-dividend date is Monday, June 1st. This represents a $6.00 annualized dividend and a dividend yield of 2.8%. M&T Bank’s dividend payout ratio (DPR) is 33.59%.

M&T Bank announced that its Board of Directors has authorized a share buyback program on Tuesday, March 31st that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 16.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

About M&T Bank

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid?Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle?market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.