Strs Ohio Has $27.01 Million Stock Holdings in M&T Bank Co. (NYSE:MTB)

Strs Ohio lessened its stake in shares of M&T Bank Co. (NYSE:MTB) by 9.2% during the 4th quarter, HoldingsChannel reports. The firm owned 197,066 shares of the financial services provider’s stock after selling 19,934 shares during the quarter. Strs Ohio’s holdings in M&T Bank were worth $27,013,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Penserra Capital Management LLC boosted its position in shares of M&T Bank by 7.8% in the fourth quarter. Penserra Capital Management LLC now owns 930 shares of the financial services provider’s stock valued at $134,000 after acquiring an additional 67 shares during the period. Carnegie Capital Asset Management LLC boosted its position in shares of M&T Bank by 2.6% in the third quarter. Carnegie Capital Asset Management LLC now owns 3,119 shares of the financial services provider’s stock valued at $394,000 after acquiring an additional 80 shares during the period. Burns J W & Co. Inc. NY boosted its position in shares of M&T Bank by 1.3% in the fourth quarter. Burns J W & Co. Inc. NY now owns 6,034 shares of the financial services provider’s stock valued at $827,000 after acquiring an additional 80 shares during the period. Robinson Value Management Ltd. boosted its position in shares of M&T Bank by 0.3% in the third quarter. Robinson Value Management Ltd. now owns 33,542 shares of the financial services provider’s stock valued at $4,241,000 after acquiring an additional 85 shares during the period. Finally, Kinneret Advisory LLC boosted its position in shares of M&T Bank by 2.3% in the first quarter. Kinneret Advisory LLC now owns 3,836 shares of the financial services provider’s stock valued at $650,000 after acquiring an additional 86 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Stock Up 4.7 %

Shares of NYSE MTB opened at $140.88 on Tuesday. M&T Bank Co. has a 52-week low of $108.53 and a 52-week high of $148.23. The stock has a market cap of $23.47 billion, a PE ratio of 8.93, a PEG ratio of 1.24 and a beta of 0.80. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 0.99. The business has a fifty day moving average of $139.33 and a two-hundred day moving average of $132.65.

M&T Bank (NYSE:MTB) last announced its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). M&T Bank had a net margin of 21.49% and a return on equity of 11.59%. The business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the business posted $4.09 earnings per share. As a group, equities research analysts expect that M&T Bank Co. will post 13.89 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.69%. M&T Bank’s dividend payout ratio (DPR) is presently 32.95%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MTB. Jefferies Financial Group reduced their price objective on M&T Bank from $154.00 to $151.00 and set a “hold” rating for the company in a research report on Monday, April 8th. UBS Group raised their target price on M&T Bank from $139.00 to $154.00 in a research report on Wednesday, January 17th. Keefe, Bruyette & Woods raised their target price on M&T Bank from $155.00 to $162.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Piper Sandler reduced their target price on M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a research report on Friday, January 19th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $159.00 target price on shares of M&T Bank in a research report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, M&T Bank has a consensus rating of “Hold” and an average price target of $155.21.

Insider Activity

In other news, EVP Doris P. Meister sold 1,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $132.30, for a total value of $132,300.00. Following the completion of the sale, the executive vice president now directly owns 7,274 shares in the company, valued at $962,350.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the sale, the director now directly owns 6,367 shares in the company, valued at $923,215. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Doris P. Meister sold 1,000 shares of M&T Bank stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $132.30, for a total value of $132,300.00. Following the completion of the sale, the executive vice president now owns 7,274 shares of the company’s stock, valued at $962,350.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,481 shares of company stock worth $5,114,624. 0.82% of the stock is owned by corporate insiders.

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.