Strs Ohio Lowers Stock Position in M&T Bank Corporation $MTB

Strs Ohio cut its stake in shares of M&T Bank Corporation (NYSE:MTB) by 25.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 125,744 shares of the financial services provider’s stock after selling 42,135 shares during the quarter. Strs Ohio’s holdings in M&T Bank were worth $24,850,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Marshall Wace LLP raised its position in shares of M&T Bank by 6.2% during the 2nd quarter. Marshall Wace LLP now owns 584,438 shares of the financial services provider’s stock valued at $113,375,000 after buying an additional 33,920 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in M&T Bank by 3.1% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 463,669 shares of the financial services provider’s stock valued at $89,947,000 after acquiring an additional 13,749 shares during the last quarter. Canoe Financial LP raised its position in M&T Bank by 46.8% during the third quarter. Canoe Financial LP now owns 433,679 shares of the financial services provider’s stock valued at $85,704,000 after purchasing an additional 138,173 shares in the last quarter. RNC Capital Management LLC raised its position in M&T Bank by 0.3% during the second quarter. RNC Capital Management LLC now owns 363,058 shares of the financial services provider’s stock valued at $70,430,000 after purchasing an additional 1,058 shares in the last quarter. Finally, Cooke & Bieler LP lifted its stake in M&T Bank by 18.1% during the second quarter. Cooke & Bieler LP now owns 318,930 shares of the financial services provider’s stock worth $61,869,000 after purchasing an additional 48,870 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Barclays increased their price objective on M&T Bank from $220.00 to $236.00 and gave the company an “equal weight” rating in a research report on Monday, January 5th. Citigroup upped their target price on M&T Bank from $215.00 to $225.00 and gave the stock a “neutral” rating in a research note on Friday, January 2nd. Robert W. Baird lifted their price target on shares of M&T Bank from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, December 18th. Wall Street Zen lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a report on Friday. Finally, Piper Sandler upped their price objective on shares of M&T Bank from $225.00 to $235.00 in a research note on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $224.29.

M&T Bank Price Performance

Shares of MTB stock opened at $213.69 on Friday. The firm has a market cap of $32.84 billion, a P/E ratio of 12.53, a P/E/G ratio of 0.94 and a beta of 0.59. M&T Bank Corporation has a fifty-two week low of $150.75 and a fifty-two week high of $222.18. The business’s 50 day moving average price is $202.04 and its 200-day moving average price is $195.61. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 0.90.

M&T Bank (NYSE:MTB) last announced its earnings results on Friday, January 16th. The financial services provider reported $4.72 EPS for the quarter, beating analysts’ consensus estimates of $4.47 by $0.25. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.The company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the prior year, the company earned $3.77 earnings per share. On average, equities research analysts anticipate that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st were issued a $1.50 dividend. The ex-dividend date was Monday, December 1st. This represents a $6.00 annualized dividend and a yield of 2.8%. M&T Bank’s dividend payout ratio is 35.19%.

Insider Transactions at M&T Bank

In other news, Director Robert E. Sadler, Jr. sold 6,000 shares of M&T Bank stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $190.06, for a total transaction of $1,140,360.00. Following the sale, the director owned 17,070 shares of the company’s stock, valued at approximately $3,244,324.20. The trade was a 26.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John P. Barnes sold 17,866 shares of the business’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $220.81, for a total transaction of $3,944,991.46. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 29,116 shares of company stock valued at $6,091,776. Company insiders own 0.53% of the company’s stock.

About M&T Bank

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.