M&T Bank Corporation $MTB Shares Sold by New York State Teachers Retirement System

by · The Markets Daily

New York State Teachers Retirement System decreased its position in M&T Bank Corporation (NYSE:MTB – Free Report) by 1.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 144,273 shares of the financial services provider’s stock after selling 2,570 shares during the period. New York State Teachers Retirement System’s holdings in M&T Bank were worth $28,511,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC boosted its position in shares of M&T Bank by 2,214.3% during the second quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock worth $31,000 after buying an additional 155 shares during the period. Twin Peaks Wealth Advisors LLC bought a new stake in M&T Bank during the 2nd quarter valued at $36,000. Family Legacy Financial Solutions LLC acquired a new position in M&T Bank during the 2nd quarter worth $46,000. Cullen Frost Bankers Inc. boosted its position in M&T Bank by 1,109.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 254 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 233 shares during the period. Finally, CYBER HORNET ETFs LLC acquired a new position in M&T Bank during the 2nd quarter worth $84,000. Institutional investors own 84.68% of the company’s stock.

Insiders Place Their Bets

In related news, Director Robert E. Sadler, Jr. sold 6,000 shares of M&T Bank stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $190.06, for a total value of $1,140,360.00. Following the transaction, the director owned 17,070 shares of the company’s stock, valued at approximately $3,244,324.20. This trade represents a 26.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Christopher E. Kay sold 5,250 shares of the company’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $191.70, for a total transaction of $1,006,425.00. Following the sale, the executive vice president directly owned 5,501 shares of the company’s stock, valued at $1,054,541.70. This represents a 48.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.53% of the company’s stock.

M&T Bank Stock Performance

Shares of MTB opened at $211.74 on Tuesday. The firm’s 50 day moving average is $197.05 and its 200-day moving average is $194.69. The stock has a market capitalization of $32.54 billion, a P/E ratio of 13.04, a P/E/G ratio of 0.93 and a beta of 0.59. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.97 and a quick ratio of 0.97. M&T Bank Corporation has a 12-month low of $150.75 and a 12-month high of $215.49.

M&T Bank (NYSE:MTB – Get Free Report) last released its earnings results on Wednesday, March 9th. The financial services provider reported $3.54 EPS for the quarter. The business had revenue of $1.54 billion during the quarter. M&T Bank had a net margin of 20.91% and a return on equity of 10.62%. Equities research analysts anticipate that M&T Bank Corporation will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st were paid a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $6.00 annualized dividend and a dividend yield of 2.8%. M&T Bank’s dividend payout ratio (DPR) is currently 36.95%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Bank of America reissued a “neutral” rating and set a $225.00 price target on shares of M&T Bank in a report on Wednesday, January 7th. Keefe, Bruyette & Woods raised their target price on shares of M&T Bank from $220.00 to $230.00 and gave the company a “market perform” rating in a research note on Wednesday, December 17th. Wolfe Research lowered shares of M&T Bank from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of M&T Bank in a report on Monday, December 29th. Finally, Citigroup raised their price objective on shares of M&T Bank from $215.00 to $225.00 and gave the company a “neutral” rating in a research note on Friday, January 2nd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $221.18.

Check Out Our Latest Stock Analysis on MTB

About M&T Bank

(Free Report)

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.

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