M&T Bank Co. (NYSE:MTB) Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System lowered its position in M&T Bank Co. (NYSE:MTB) by 8.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 186,162 shares of the financial services provider’s stock after selling 18,271 shares during the period. State Board of Administration of Florida Retirement System owned about 0.14% of M&T Bank worth $31,661,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of MTB. Pearl River Capital LLC acquired a new position in shares of M&T Bank in the first quarter worth about $42,000. Webster Bank N. A. purchased a new stake in shares of M&T Bank during the second quarter worth about $43,000. CX Institutional increased its stake in shares of M&T Bank by 24.8% during the second quarter. CX Institutional now owns 372 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 74 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of M&T Bank during the second quarter worth about $79,000. Finally, Ellis Investment Partners LLC purchased a new stake in shares of M&T Bank during the first quarter worth about $81,000. Institutional investors and hedge funds own 82.56% of the company’s stock.

In related news, CFO Darren J. King sold 1,841 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $162.95, for a total transaction of $299,990.95. Following the completion of the sale, the chief financial officer now owns 46,263 shares of the company’s stock, valued at approximately $7,538,555.85. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael J. Todaro acquired 186 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average cost of $144.84 per share, with a total value of $26,940.24. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 6,479 shares of company stock valued at $1,043,915. 0.54% of the stock is owned by corporate insiders.

A number of analysts have recently commented on the stock. ValuEngine raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. boosted their target price on shares of M&T Bank from $173.00 to $174.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 2nd. Keefe, Bruyette & Woods cut their target price on shares of M&T Bank from $189.00 to $185.00 and set an “outperform” rating for the company in a research note on Friday, July 19th. Barclays cut their target price on shares of M&T Bank from $217.00 to $206.00 and set an “overweight” rating for the company in a research note on Friday, July 19th. Finally, Zacks Investment Research cut shares of M&T Bank from a “buy” rating to a “hold” rating and set a $179.00 target price for the company. in a research note on Monday, July 1st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $176.77.

Shares of NYSE MTB opened at $147.79 on Friday. M&T Bank Co. has a 12-month low of $133.78 and a 12-month high of $180.77. The stock has a market cap of $19.56 billion, a PE ratio of 11.49, a P/E/G ratio of 2.05 and a beta of 1.05. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average of $160.81 and a 200 day moving average of $165.15.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.70 by ($0.36). M&T Bank had a net margin of 29.81% and a return on equity of 14.26%. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the prior year, the company posted $3.26 EPS. On average, sell-side analysts forecast that M&T Bank Co. will post 13.89 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $4.00 annualized dividend and a yield of 2.71%. M&T Bank’s dividend payout ratio is presently 31.10%.

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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