M&T Bank Co. (NYSE:MTB) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lowered its position in M&T Bank Co. (NYSE:MTBGet Rating) by 0.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,442 shares of the financial services provider’s stock after selling 405 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in M&T Bank were worth $7,872,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its holdings in shares of M&T Bank by 171.3% during the 4th quarter. HighTower Advisors LLC now owns 17,450 shares of the financial services provider’s stock valued at $2,682,000 after acquiring an additional 11,017 shares in the last quarter. Covestor Ltd purchased a new position in M&T Bank in the fourth quarter valued at about $55,000. Candriam Luxembourg S.C.A. lifted its stake in shares of M&T Bank by 8.9% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 9,605 shares of the financial services provider’s stock worth $1,475,000 after purchasing an additional 781 shares in the last quarter. Ensign Peak Advisors Inc boosted its position in shares of M&T Bank by 325.0% in the fourth quarter. Ensign Peak Advisors Inc now owns 82,571 shares of the financial services provider’s stock worth $12,680,000 after buying an additional 63,142 shares during the period. Finally, Gabelli Funds LLC grew its stake in shares of M&T Bank by 8.4% in the fourth quarter. Gabelli Funds LLC now owns 67,150 shares of the financial services provider’s stock valued at $10,313,000 after buying an additional 5,200 shares in the last quarter. Hedge funds and other institutional investors own 82.24% of the company’s stock.

M&T Bank Stock Performance

Shares of MTB opened at $182.85 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98. M&T Bank Co. has a 12-month low of $131.42 and a 12-month high of $193.42. The business’s fifty day moving average price is $178.12 and its 200 day moving average price is $172.59. The stock has a market capitalization of $32.81 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 0.83 and a beta of 0.88.

M&T Bank (NYSE:MTBGet Rating) last announced its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $3.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $3.10. M&T Bank had a net margin of 23.21% and a return on equity of 10.76%. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the prior year, the firm earned $3.45 EPS. Equities research analysts forecast that M&T Bank Co. will post 15.21 EPS for the current year.

M&T Bank announced that its board has initiated a share repurchase plan on Tuesday, July 19th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 9.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 1st will be paid a dividend of $1.20 per share. The ex-dividend date is Wednesday, August 31st. This represents a $4.80 dividend on an annualized basis and a yield of 2.63%. M&T Bank’s payout ratio is currently 44.61%.

Insiders Place Their Bets

In other news, Director Kirk W. Walters sold 21,116 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $180.00, for a total transaction of $3,800,880.00. Following the transaction, the director now directly owns 6,134 shares of the company’s stock, valued at $1,104,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Gary N. Geisel sold 533 shares of the firm’s stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $189.34, for a total value of $100,918.22. Following the completion of the transaction, the director now owns 17,740 shares of the company’s stock, valued at approximately $3,358,891.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kirk W. Walters sold 21,116 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $180.00, for a total value of $3,800,880.00. Following the sale, the director now owns 6,134 shares of the company’s stock, valued at $1,104,120. The disclosure for this sale can be found here. Insiders have sold 30,656 shares of company stock valued at $5,604,091 over the last three months. Company insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

MTB has been the subject of a number of analyst reports. TheStreet cut M&T Bank from a “b” rating to a “c+” rating in a report on Wednesday, July 20th. Robert W. Baird raised shares of M&T Bank from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $175.00 to $200.00 in a research note on Friday, June 17th. Wedbush upped their price objective on shares of M&T Bank to $188.00 in a research report on Friday, July 22nd. JPMorgan Chase & Co. dropped their target price on M&T Bank from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Friday, July 1st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on M&T Bank from $200.00 to $255.00 and gave the company a “buy” rating in a report on Monday, September 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, M&T Bank has an average rating of “Moderate Buy” and an average target price of $202.64.

M&T Bank Company Profile

(Get Rating)

M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial lending and leasing, letters of credit, and cash management services for middle-market and large commercial customers.

Read More

Want to see what other hedge funds are holding MTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for M&T Bank Co. (NYSE:MTBGet Rating).

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

Receive News & Ratings for M&T Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M&T Bank and related companies with MarketBeat.com's FREE daily email newsletter.