New York State Common Retirement Fund Has $22.57 Million Position in M&T Bank Corporation $MTB

New York State Common Retirement Fund lowered its holdings in M&T Bank Corporation (NYSE:MTB) by 4.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 114,200 shares of the financial services provider’s stock after selling 5,500 shares during the quarter. New York State Common Retirement Fund owned 0.07% of M&T Bank worth $22,568,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bank of Jackson Hole Trust boosted its holdings in M&T Bank by 342.9% during the third quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 120 shares in the last quarter. Golden State Wealth Management LLC lifted its position in shares of M&T Bank by 2,214.3% during the 2nd quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock worth $31,000 after buying an additional 155 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new stake in M&T Bank in the 2nd quarter valued at $36,000. Cullen Frost Bankers Inc. boosted its stake in M&T Bank by 1,109.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 254 shares of the financial services provider’s stock valued at $49,000 after buying an additional 233 shares in the last quarter. Finally, Root Financial Partners LLC bought a new stake in M&T Bank in the third quarter valued at $61,000. Institutional investors own 84.68% of the company’s stock.

M&T Bank Trading Up 0.2%

Shares of NYSE MTB opened at $221.89 on Friday. M&T Bank Corporation has a 1-year low of $150.75 and a 1-year high of $222.83. The company has a 50-day moving average of $205.52 and a two-hundred day moving average of $196.21. The company has a market cap of $34.10 billion, a PE ratio of 13.01, a P/E/G ratio of 0.97 and a beta of 0.59. The company has a current ratio of 0.90, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41.

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

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st were given a dividend of $1.50 per share. The ex-dividend date was Monday, December 1st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.7%. M&T Bank’s payout ratio is presently 35.19%.

Insider Transactions at M&T Bank

In other news, Vice Chairman Gary N. Geisel sold 887 shares of the company’s stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $215.79, for a total transaction of $191,405.73. Following the transaction, the insider owned 16,446 shares of the company’s stock, valued at $3,548,882.34. This represents a 5.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John P. Barnes sold 17,866 shares of M&T Bank stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $220.81, for a total value of $3,944,991.46. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 30,003 shares of company stock worth $6,283,182. Insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

MTB has been the subject of a number of analyst reports. Royal Bank Of Canada lifted their price objective on M&T Bank from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Friday, January 16th. Truist Financial set a $230.00 price target on shares of M&T Bank in a report on Tuesday, January 20th. Wolfe Research lowered shares of M&T Bank from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 7th. TD Cowen reaffirmed a “buy” rating on shares of M&T Bank in a report on Wednesday, January 7th. Finally, Cantor Fitzgerald lifted their target price on shares of M&T Bank from $228.00 to $238.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $224.29.

M&T Bank Company Profile

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.