2,500 Shares in M&T Bank Corporation $MTB Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of M&T Bank Corporation (NYSE:MTB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,500 shares of the financial services provider’s stock, valued at approximately $595,000.

A number of other institutional investors have also recently added to or reduced their stakes in MTB. California State Teachers Retirement System grew its position in M&T Bank by 23,449.1% in the second quarter. California State Teachers Retirement System now owns 50,491,441 shares of the financial services provider’s stock worth $12,017,468,000 after acquiring an additional 50,277,032 shares in the last quarter. Alan B Lancz & Associates Inc. bought a new position in shares of M&T Bank during the 2nd quarter valued at $212,000. Ameritas Advisory Services LLC bought a new position in shares of M&T Bank during the 2nd quarter valued at $86,000. Wedmont Private Capital lifted its stake in shares of M&T Bank by 1.0% in the 2nd quarter. Wedmont Private Capital now owns 4,405 shares of the financial services provider’s stock valued at $1,067,000 after purchasing an additional 45 shares during the last quarter. Finally, Kintra Wealth LLC lifted its stake in shares of M&T Bank by 21.1% in the 2nd quarter. Kintra Wealth LLC now owns 5,340 shares of the financial services provider’s stock valued at $1,352,000 after purchasing an additional 929 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Stock Down 0.9%

MTB stock opened at $237.60 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.96 and a quick ratio of 0.96. The company has a 50-day moving average of $244.81 and a two-hundred day moving average of $226.42. The stock has a market capitalization of $34.31 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 1.36 and a beta of 0.56. M&T Bank Corporation has a 52-week low of $174.76 and a 52-week high of $255.95.

M&T Bank (NYSE:MTB) last announced its earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share for the quarter, beating the consensus estimate of $4.66 by $0.69. M&T Bank had a return on equity of 11.80% and a net margin of 22.72%.The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the prior year, the company earned $4.28 EPS. As a group, equities research analysts anticipate that M&T Bank Corporation will post 19.45 EPS for the current year.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $6.00 dividend on an annualized basis and a yield of 2.5%. M&T Bank’s payout ratio is 31.68%.

Analyst Upgrades and Downgrades

MTB has been the subject of a number of recent research reports. Jefferies Financial Group reiterated a “buy” rating and issued a $300.00 price objective on shares of M&T Bank in a report on Wednesday, July 15th. Royal Bank Of Canada raised their target price on M&T Bank from $230.00 to $255.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. Robert W. Baird boosted their price target on M&T Bank from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. JPMorgan Chase & Co. upped their price target on M&T Bank from $251.50 to $265.50 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Finally, Keefe, Bruyette & Woods increased their price objective on M&T Bank from $242.00 to $250.00 and gave the company a “market perform” rating in a report on Thursday, July 16th. Eight analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $255.97.

Insider Transactions at M&T Bank

In related news, Director Rudina Seseri sold 623 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $241.04, for a total transaction of $150,167.92. Following the completion of the transaction, the director directly owned 3,649 shares in the company, valued at $879,554.96. This represents a 14.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.44% of the company’s stock.

About M&T Bank

M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Its principal banking subsidiary, Manufacturers and Traders Trust Company, commonly known as M&T Bank, provides financial products and services to individuals, businesses, institutions and government entities.

The company’s offerings include checking and savings accounts, consumer and commercial loans, residential mortgages, credit cards, treasury management and other business banking services.