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

California State Teachers Retirement System boosted its position in shares of M&T Bank Co. (NYSE:MTB) by 1.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 276,222 shares of the financial services provider’s stock after purchasing an additional 4,343 shares during the period. California State Teachers Retirement System owned 0.17% of M&T Bank worth $40,174,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board grew its holdings in shares of M&T Bank by 43.1% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 12,423 shares of the financial services provider’s stock valued at $1,807,000 after acquiring an additional 3,739 shares in the last quarter. Leuthold Group LLC purchased a new position in shares of M&T Bank during the 1st quarter valued at $3,125,000. Stevens Capital Management LP purchased a new position in shares of M&T Bank during the 4th quarter valued at $320,000. Matrix Asset Advisors Inc. NY grew its holdings in shares of M&T Bank by 15.7% during the 4th quarter. Matrix Asset Advisors Inc. NY now owns 92,537 shares of the financial services provider’s stock valued at $12,685,000 after acquiring an additional 12,590 shares in the last quarter. Finally, Smead Capital Management Inc. bought a new stake in M&T Bank in the fourth quarter worth $59,418,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Kirk W. Walters sold 7,464 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $173.97, for a total value of $1,298,512.08. Following the completion of the transaction, the director now owns 15,045 shares of the company’s stock, valued at $2,617,378.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other M&T Bank news, Director Kirk W. Walters sold 7,464 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $173.97, for a total transaction of $1,298,512.08. Following the sale, the director now directly owns 15,045 shares of the company’s stock, valued at $2,617,378.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John P. Barnes sold 13,360 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $147.00, for a total transaction of $1,963,920.00. Following the sale, the director now directly owns 35,480 shares in the company, valued at $5,215,560. The disclosure for this sale can be found here. Insiders sold 94,887 shares of company stock valued at $14,583,850 over the last quarter. Corporate insiders own 0.82% of the company’s stock.

M&T Bank Stock Performance

Shares of MTB traded down $1.44 during trading hours on Wednesday, reaching $172.17. 912,639 shares of the company traded hands, compared to its average volume of 1,043,415. The stock’s fifty day moving average is $153.13 and its 200 day moving average is $145.62. The stock has a market cap of $28.73 billion, a P/E ratio of 11.73, a price-to-earnings-growth ratio of 3.45 and a beta of 0.77. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 0.94. M&T Bank Co. has a 1-year low of $108.53 and a 1-year high of $176.44.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. The business had revenue of $3.37 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the prior year, the business earned $5.12 earnings per share. Equities research analysts anticipate that M&T Bank Co. will post 14.24 earnings per share for the current fiscal year.

M&T Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.14%. The ex-dividend date was Monday, June 3rd. This is a positive change from M&T Bank’s previous quarterly dividend of $1.30. M&T Bank’s dividend payout ratio is 36.51%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group upped their price objective on shares of M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Royal Bank of Canada upped their price objective on shares of M&T Bank from $160.00 to $174.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. JPMorgan Chase & Co. upped their price objective on shares of M&T Bank from $180.00 to $183.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Evercore ISI upped their price objective on shares of M&T Bank from $157.00 to $168.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Finally, StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, July 19th. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, M&T Bank currently has a consensus rating of “Hold” and an average target price of $170.35.

M&T Bank Profile

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.