Public Employees Retirement System of Ohio Has $9.14 Million Stock Position in M&T Bank Corporation $MTB

Public Employees Retirement System of Ohio lowered its position in M&T Bank Corporation (NYSE:MTB) by 4.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,203 shares of the financial services provider’s stock after selling 2,064 shares during the period. Public Employees Retirement System of Ohio’s holdings in M&T Bank were worth $9,138,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MTB. Miller Howard Investments Inc. NY bought a new position in shares of M&T Bank during the 4th quarter valued at about $42,817,000. Danske Bank A S bought a new stake in M&T Bank during the 3rd quarter worth approximately $29,612,000. Russell Investments Group Ltd. raised its holdings in M&T Bank by 35.4% during the 4th quarter. Russell Investments Group Ltd. now owns 396,531 shares of the financial services provider’s stock worth $79,954,000 after buying an additional 103,692 shares during the period. Munich Reinsurance Co Stock Corp in Munich raised its holdings in M&T Bank by 37.1% during the 4th quarter. Munich Reinsurance Co Stock Corp in Munich now owns 351,076 shares of the financial services provider’s stock worth $71,462,000 after buying an additional 95,025 shares during the period. Finally, PFA Pension Forsikringsaktieselskab acquired a new stake in M&T Bank during the 4th quarter worth approximately $17,697,000. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Christopher E. Kay sold 3,105 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $216.50, for a total transaction of $672,232.50. Following the completion of the transaction, the executive vice president directly owned 6,753 shares in the company, valued at $1,462,024.50. This represents a 31.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.44% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

MTB has been the subject of several research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of M&T Bank in a report on Thursday, June 4th. Truist Financial raised their price objective on shares of M&T Bank from $230.00 to $268.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. Wall Street Zen raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. Deutsche Bank Aktiengesellschaft lowered shares of M&T Bank from a “buy” rating to a “hold” rating and set a $250.00 target price for the company. in a research note on Thursday, July 23rd. Finally, Evercore set a $260.00 price target on M&T Bank in a research note on Monday, July 6th. Seven analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $251.43.

M&T Bank Price Performance

NYSE MTB opened at $248.35 on Tuesday. The firm’s 50 day moving average is $231.06 and its 200-day moving average is $220.90. The company has a quick ratio of 0.94, a current ratio of 0.89 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $36.37 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 1.16 and a beta of 0.57. M&T Bank Corporation has a 12-month low of $174.76 and a 12-month high of $255.00.

M&T Bank (NYSE:MTB) last announced its earnings results on Wednesday, July 15th. The financial services provider reported $5.35 EPS for the quarter, topping the consensus estimate of $4.66 by $0.69. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.46 billion. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. During the same quarter in the prior year, the company posted $4.28 earnings per share. Equities research analysts anticipate that M&T Bank Corporation will post 19.42 earnings per share for the current fiscal year.

M&T Bank announced that its board has initiated a stock repurchase program on Tuesday, March 31st that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 16.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

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.