M&T Bank Co. (NYSE:MTB) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lowered its position in M&T Bank Co. (NYSE:MTB) by 3.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,566 shares of the financial services provider’s stock after selling 1,661 shares during the period. Public Employees Retirement System of Ohio’s holdings in M&T Bank were worth $7,198,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MTB. Nuveen Asset Management LLC lifted its stake in M&T Bank by 54,440.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,993,989 shares of the financial services provider’s stock valued at $339,118,000 after acquiring an additional 1,990,333 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of M&T Bank by 1.5% in the 2nd quarter. Wells Fargo & Company MN now owns 1,635,419 shares of the financial services provider’s stock valued at $278,136,000 after acquiring an additional 24,948 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of M&T Bank by 2.0% in the 2nd quarter. Northern Trust Corp now owns 1,548,635 shares of the financial services provider’s stock valued at $263,376,000 after acquiring an additional 30,412 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of M&T Bank by 3.5% in the second quarter. Janus Henderson Group PLC now owns 821,566 shares of the financial services provider’s stock worth $139,722,000 after acquiring an additional 28,071 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of M&T Bank by 6.2% in the second quarter. Bank of America Corp DE now owns 762,483 shares of the financial services provider’s stock worth $129,676,000 after acquiring an additional 44,179 shares during the period. Hedge funds and other institutional investors own 81.65% of the company’s stock.

MTB opened at $164.61 on Tuesday. The firm has a fifty day moving average price of $161.32 and a 200 day moving average price of $160.08. M&T Bank Co. has a 1 year low of $133.78 and a 1 year high of $176.11. The stock has a market cap of $21.74 billion, a P/E ratio of 12.80, a P/E/G ratio of 1.34 and a beta of 1.11. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.06 and a quick ratio of 1.06.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $3.47 earnings per share for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.12). The firm had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.53 billion. M&T Bank had a net margin of 28.58% and a return on equity of 13.82%. During the same period in the previous year, the firm posted $3.53 EPS. Equities analysts expect that M&T Bank Co. will post 13.65 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be paid a dividend of $1.10 per share. This is a positive change from M&T Bank’s previous quarterly dividend of $1.00. This represents a $4.40 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, November 29th. M&T Bank’s dividend payout ratio is presently 34.21%.

Several research analysts recently issued reports on MTB shares. ValuEngine raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 4th. Keefe, Bruyette & Woods lowered shares of M&T Bank from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $168.00 to $160.00 in a report on Friday, October 18th. UBS Group cut their price target on M&T Bank from $164.00 to $161.00 and set a “neutral” rating on the stock in a research report on Monday, October 21st. Odeon Capital Group assumed coverage on M&T Bank in a research note on Friday, September 27th. They set a “hold” rating for the company. Finally, Barclays decreased their price objective on M&T Bank from $206.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $167.83.

In related news, CFO Darren J. King sold 3,968 shares of M&T Bank stock in a transaction on Monday, November 4th. The shares were sold at an average price of $162.59, for a total value of $645,157.12. Following the sale, the chief financial officer now owns 42,295 shares of the company’s stock, valued at approximately $6,876,744.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Richard S. Gold sold 4,093 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $169.43, for a total transaction of $693,476.99. Following the completion of the sale, the chief operating officer now directly owns 38,936 shares of the company’s stock, valued at approximately $6,596,926.48. The disclosure for this sale can be found here. Insiders have sold a total of 24,466 shares of company stock worth $4,078,074 over the last 90 days. Insiders own 0.54% of the company’s stock.

About M&T Bank

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.

Further Reading: Market Capitalization

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:MTB).

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.