California State Teachers Retirement System Has $44.32 Million Stake in M&T Bank Corporation $MTB

California State Teachers Retirement System lowered its position in shares of M&T Bank Corporation (NYSE:MTB) by 1.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 214,409 shares of the financial services provider’s stock after selling 4,135 shares during the period. California State Teachers Retirement System owned 0.15% of M&T Bank worth $44,323,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in MTB. Oslo Pensjonsforsikring AS acquired a new stake in shares of M&T Bank during the first quarter worth $158,000. Parallel Advisors LLC boosted its position in shares of M&T Bank by 9.9% in the first quarter. Parallel Advisors LLC now owns 3,846 shares of the financial services provider’s stock valued at $795,000 after acquiring an additional 345 shares during the period. Bessemer Group Inc. grew its stake in shares of M&T Bank by 19.5% in the first quarter. Bessemer Group Inc. now owns 27,500 shares of the financial services provider’s stock valued at $5,685,000 after acquiring an additional 4,493 shares in the last quarter. Ibex Wealth Advisors acquired a new position in shares of M&T Bank in the first quarter valued at about $593,000. Finally, Bogart Wealth LLC increased its position in M&T Bank by 233.3% during the first quarter. Bogart Wealth LLC now owns 120 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 84 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 3,105 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $216.50, for a total transaction of $672,232.50. Following the completion of the transaction, the executive vice president directly owned 6,753 shares in the company, valued at $1,462,024.50. The trade was a 31.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.44% of the stock is owned by company insiders.

M&T Bank Trading Down 1.3%

MTB opened at $247.14 on Friday. The stock has a market capitalization of $36.19 billion, a price-to-earnings ratio of 13.05, a P/E/G ratio of 1.16 and a beta of 0.57. The company has a quick ratio of 0.94, a current ratio of 0.89 and a debt-to-equity ratio of 0.53. M&T Bank Corporation has a twelve month low of $174.76 and a twelve month high of $255.00. The company has a 50-day simple moving average of $233.48 and a 200 day simple moving average of $221.71.

M&T Bank (NYSE:MTB) last released its earnings results on Wednesday, July 15th. The financial services provider reported $5.35 EPS for the quarter, beating the consensus estimate of $4.66 by $0.69. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.46 billion. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. During the same period last year, the firm earned $4.28 EPS. Analysts predict that M&T Bank Corporation will post 19.42 EPS for the current fiscal year.

Analyst Ratings Changes

MTB has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their price objective on shares of M&T Bank from $231.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, April 6th. JPMorgan Chase & Co. raised their target price on shares of M&T Bank from $251.50 to $265.50 and gave the stock a “neutral” rating in a report on Wednesday. Piper Sandler lifted their price target on shares of M&T Bank from $235.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. DA Davidson boosted their price target on M&T Bank from $263.00 to $266.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Finally, Keefe, Bruyette & Woods boosted their price target on M&T Bank from $242.00 to $250.00 and gave the company a “market perform” rating in a research note on Thursday, July 16th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $253.53.

M&T Bank Company Profile

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.