M&T Bank Co. (NYSE:MTB) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lessened its holdings in shares of M&T Bank Co. (NYSE:MTB) by 5.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,618 shares of the financial services provider’s stock after selling 661 shares during the period. Kentucky Retirement Systems’ holdings in M&T Bank were worth $1,835,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in MTB. Ontario Teachers Pension Plan Board lifted its stake in shares of M&T Bank by 43.1% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 12,423 shares of the financial services provider’s stock worth $1,807,000 after acquiring an additional 3,739 shares during the period. Leuthold Group LLC bought a new position in M&T Bank during the 1st quarter valued at $3,125,000. Stevens Capital Management LP bought a new position in M&T Bank during the 4th quarter valued at $320,000. Matrix Asset Advisors Inc. NY increased its position in shares of M&T Bank by 15.7% during the 4th quarter. Matrix Asset Advisors Inc. NY now owns 92,537 shares of the financial services provider’s stock valued at $12,685,000 after purchasing an additional 12,590 shares during the period. Finally, Smead Capital Management Inc. bought a new stake in shares of M&T Bank in the 4th quarter worth $59,418,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at M&T Bank

In other news, Director John P. Barnes sold 13,360 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $147.00, for a total transaction of $1,963,920.00. Following the completion of the sale, the director now directly owns 35,480 shares of the company’s stock, valued at approximately $5,215,560. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director John P. Barnes sold 13,360 shares of M&T Bank stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $147.00, for a total value of $1,963,920.00. Following the completion of the sale, the director now owns 35,480 shares of the company’s stock, valued at approximately $5,215,560. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Gary N. Geisel sold 500 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total transaction of $86,250.00. Following the transaction, the insider now directly owns 16,429 shares in the company, valued at $2,834,002.50. The disclosure for this sale can be found here. Insiders have sold 87,415 shares of company stock worth $13,285,139 over the last 90 days. 0.82% of the stock is currently owned by corporate insiders.

M&T Bank Stock Up 0.8 %

Shares of MTB traded up $1.39 during trading hours on Friday, reaching $174.90. The company’s stock had a trading volume of 980,508 shares, compared to its average volume of 1,049,592. The company has a 50 day moving average of $152.34 and a two-hundred day moving average of $145.01. The company has a quick ratio of 1.00, a current ratio of 0.94 and a debt-to-equity ratio of 0.44. The firm has a market cap of $29.18 billion, a price-to-earnings ratio of 11.83, a P/E/G ratio of 3.52 and a beta of 0.77. M&T Bank Co. has a 1-year low of $108.53 and a 1-year high of $176.44.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, beating the consensus estimate of $3.50 by $0.23. The firm had revenue of $3.37 billion for the quarter, compared to analyst estimates of $2.27 billion. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. During the same quarter in the prior year, the business earned $5.12 EPS. As a group, research analysts predict that M&T Bank Co. will post 14.18 EPS for the current fiscal year.

M&T Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were given a dividend of $1.35 per share. This is a boost from M&T Bank’s previous quarterly dividend of $1.30. The ex-dividend date was Monday, June 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 3.09%. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wedbush reaffirmed an “outperform” rating and set a $170.00 target price on shares of M&T Bank in a report on Wednesday, April 10th. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, July 19th. DA Davidson raised their target price on shares of M&T Bank from $159.00 to $185.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Wells Fargo & Company upped their price target on M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. raised their price objective on M&T Bank from $180.00 to $183.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $170.35.

M&T Bank 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.