Louisiana State Employees Retirement System Invests $1.37 Million in M&T Bank Co. (NYSE:MTB)

Louisiana State Employees Retirement System purchased a new position in M&T Bank Co. (NYSE:MTB) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 10,000 shares of the financial services provider’s stock, valued at approximately $1,371,000.

A number of other large investors also recently modified their holdings of MTB. Clear Street Markets LLC bought a new stake in M&T Bank in the 4th quarter valued at about $25,000. Quarry LP bought a new stake in M&T Bank in the 1st quarter valued at about $27,000. Sunbelt Securities Inc. bought a new stake in M&T Bank in the 1st quarter valued at about $27,000. Headinvest LLC bought a new stake in M&T Bank in the 3rd quarter valued at about $29,000. Finally, BKM Wealth Management LLC bought a new stake in M&T Bank in the 4th quarter valued at about $32,000. 84.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Piper Sandler cut their price objective on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating on the stock in a research report on Friday, January 19th. Keefe, Bruyette & Woods boosted their price target on shares of M&T Bank from $162.00 to $170.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 16th. Evercore ISI boosted their price target on shares of M&T Bank from $146.00 to $157.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. Wells Fargo & Company boosted their price target on shares of M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 16th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $160.00 price target on shares of M&T Bank in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $158.48.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Doris P. Meister sold 1,675 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total value of $230,999.25. Following the completion of the sale, the executive vice president now directly owns 8,961 shares of the company’s stock, valued at $1,235,811.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other M&T Bank news, EVP Doris P. Meister sold 1,675 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total value of $230,999.25. Following the completion of the sale, the executive vice president now directly owns 8,961 shares of the company’s stock, valued at $1,235,811.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the sale, the director now directly owns 6,367 shares of the company’s stock, valued at $923,215. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,119 shares of company stock worth $5,341,012. 0.82% of the stock is currently owned by company insiders.

M&T Bank Stock Up 2.9 %

NYSE MTB opened at $143.38 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99. The company’s 50 day simple moving average is $139.96 and its 200 day simple moving average is $133.12. M&T Bank Co. has a 12 month low of $108.53 and a 12 month high of $148.23. The company has a market capitalization of $23.89 billion, a P/E ratio of 9.69, a PEG ratio of 1.20 and a beta of 0.80.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the firm earned $4.09 EPS. Equities research analysts expect that M&T Bank Co. will post 13.98 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were paid a $1.30 dividend. The ex-dividend date was Friday, March 1st. This represents a $5.20 annualized dividend and a yield of 3.63%. M&T Bank’s dividend payout ratio is presently 35.16%.

M&T Bank Company 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.