M&T Bank Co. (MTB) Holdings Lifted by Strs Ohio

Strs Ohio raised its stake in M&T Bank Co. (NYSE:MTB) by 4.3% during the first quarter, Holdings Channel reports. The institutional investor owned 25,623 shares of the financial services provider’s stock after purchasing an additional 1,054 shares during the quarter. Strs Ohio’s holdings in M&T Bank were worth $4,023,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in M&T Bank by 0.8% in the third quarter. JPMorgan Chase & Co. now owns 5,761,927 shares of the financial services provider’s stock valued at $948,067,000 after purchasing an additional 43,529 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of M&T Bank by 27.9% in the third quarter. Mackenzie Financial Corp now owns 2,230 shares of the financial services provider’s stock valued at $367,000 after buying an additional 486 shares in the last quarter. Kentucky Retirement Systems purchased a new position in shares of M&T Bank in the third quarter valued at $1,252,000. TIAA CREF Investment Management LLC increased its position in shares of M&T Bank by 118.1% in the third quarter. TIAA CREF Investment Management LLC now owns 872,268 shares of the financial services provider’s stock valued at $143,523,000 after buying an additional 472,403 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of M&T Bank by 3.0% in the third quarter. Legal & General Group Plc now owns 692,928 shares of the financial services provider’s stock valued at $114,030,000 after buying an additional 20,214 shares in the last quarter. 80.88% of the stock is currently owned by institutional investors.

MTB has been the subject of a number of research analyst reports. Barclays restated a “buy” rating and issued a $207.00 price target on shares of M&T Bank in a research report on Thursday, February 21st. Zacks Investment Research upgraded M&T Bank from a “hold” rating to a “buy” rating and set a $183.00 price target for the company in a research report on Friday, January 18th. Morgan Stanley dropped their price objective on M&T Bank from $175.00 to $173.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 8th. ValuEngine upgraded M&T Bank from a “sell” rating to a “hold” rating in a research report on Thursday, January 17th. Finally, Wedbush set a $165.00 price objective on M&T Bank and gave the stock a “hold” rating in a research report on Friday, January 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $179.25.

M&T Bank stock opened at $168.96 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 1.06. M&T Bank Co. has a 52 week low of $133.78 and a 52 week high of $187.07. The stock has a market cap of $23.39 billion, a P/E ratio of 13.14, a P/E/G ratio of 1.52 and a beta of 1.05.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.30 by $0.05. M&T Bank had a return on equity of 14.46% and a net margin of 30.84%. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period last year, the company earned $2.23 EPS. As a group, sell-side analysts forecast that M&T Bank Co. will post 14.61 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date was Friday, March 1st. M&T Bank’s payout ratio is 31.10%.

In related news, VP Michele D. Trolli sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $173.14, for a total transaction of $865,700.00. Following the sale, the vice president now directly owns 10,878 shares in the company, valued at approximately $1,883,416.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael J. Todaro sold 667 shares of the firm’s stock in a transaction dated Wednesday, January 30th. The shares were sold at an average price of $167.70, for a total value of $111,855.90. Following the sale, the insider now owns 1,798 shares in the company, valued at $301,524.60. The disclosure for this sale can be found here. Insiders sold a total of 21,401 shares of company stock worth $3,591,318 over the last ninety days. Corporate insiders own 0.54% of the company’s stock.

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M&T Bank Company Profile

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.

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

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