Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 1,075 Shares of M&T Bank Co. (NYSE:MTB)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its holdings in shares of M&T Bank Co. (NYSE:MTB) by 3.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 35,279 shares of the financial services provider’s stock after selling 1,075 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in M&T Bank were worth $6,633,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in MTB. Empowered Funds LLC grew its holdings in shares of M&T Bank by 9.7% during the 3rd quarter. Empowered Funds LLC now owns 2,767 shares of the financial services provider’s stock valued at $493,000 after purchasing an additional 245 shares during the last quarter. Pathstone Holdings LLC grew its holdings in shares of M&T Bank by 0.7% during the 3rd quarter. Pathstone Holdings LLC now owns 28,625 shares of the financial services provider’s stock valued at $5,099,000 after purchasing an additional 185 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of M&T Bank during the 3rd quarter valued at $1,564,000. Citizens Financial Group Inc. RI grew its holdings in shares of M&T Bank by 28.5% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,894 shares of the financial services provider’s stock valued at $337,000 after purchasing an additional 420 shares during the last quarter. Finally, Raymond James Trust N.A. grew its holdings in shares of M&T Bank by 27.2% during the 3rd quarter. Raymond James Trust N.A. now owns 3,065 shares of the financial services provider’s stock valued at $546,000 after purchasing an additional 656 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MTB shares. Morgan Stanley cut their price target on shares of M&T Bank from $269.00 to $253.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Evercore ISI cut their price target on shares of M&T Bank from $234.00 to $205.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Piper Sandler raised their price target on shares of M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $223.50 price target (up previously from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. Finally, Keefe, Bruyette & Woods raised their price target on shares of M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $222.03.

M&T Bank Trading Up 0.7 %

Shares of NYSE MTB opened at $178.19 on Friday. M&T Bank Co. has a 1 year low of $133.03 and a 1 year high of $225.70. The stock has a market cap of $29.27 billion, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74. The firm has a 50-day moving average of $190.99 and a 200 day moving average of $192.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same quarter in the previous year, the company posted $2.74 earnings per share. As a group, sell-side analysts expect that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 3.03%. M&T Bank’s dividend payout ratio (DPR) is currently 36.91%.

M&T Bank announced that its board has authorized a share repurchase plan on Wednesday, January 22nd that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insider Activity at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the transaction, the executive vice president now directly owns 10,751 shares of the company’s stock, valued at $1,852,827.34. This trade represents a 13.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

M&T Bank Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management and investment services. It operates through the following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.