Strs Ohio Grows Position in M&T Bank Corporation $MTB

Strs Ohio grew its stake in shares of M&T Bank Corporation (NYSE:MTB) by 1.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 167,879 shares of the financial services provider’s stock after buying an additional 2,474 shares during the period. Strs Ohio owned 0.10% of M&T Bank worth $32,567,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Arkadios Wealth Advisors increased its position in M&T Bank by 5.1% during the second quarter. Arkadios Wealth Advisors now owns 1,312 shares of the financial services provider’s stock worth $254,000 after buying an additional 64 shares in the last quarter. AG2R LA Mondiale Gestion D Actifs increased its position in M&T Bank by 11.1% during the second quarter. AG2R LA Mondiale Gestion D Actifs now owns 7,404 shares of the financial services provider’s stock worth $1,436,000 after buying an additional 738 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in M&T Bank by 3.1% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 463,669 shares of the financial services provider’s stock worth $89,947,000 after buying an additional 13,749 shares in the last quarter. RNC Capital Management LLC increased 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 worth $70,430,000 after buying an additional 1,058 shares in the last quarter. Finally, Ethic Inc. increased its position in M&T Bank by 20.8% during the second quarter. Ethic Inc. now owns 25,741 shares of the financial services provider’s stock worth $4,988,000 after buying an additional 4,432 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Buying and Selling at M&T Bank

In other news, Director John P. Barnes sold 15,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $199.79, for a total value of $2,996,850.00. Following the completion of the sale, the director owned 17,866 shares of the company’s stock, valued at $3,569,448.14. This represents a 45.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of the stock is owned by insiders.

M&T Bank Price Performance

MTB stock opened at $182.70 on Friday. The stock has a 50-day moving average price of $193.21 and a two-hundred day moving average price of $187.68. M&T Bank Corporation has a 12-month low of $150.75 and a 12-month high of $225.70. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.49. The company has a market cap of $28.08 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 0.87 and a beta of 0.62.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share (EPS) for the quarter. M&T Bank had a return on equity of 10.62% and a net margin of 20.91%.The firm had revenue of $1.54 billion during the quarter. As a group, research analysts predict that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd were given a $1.50 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a positive change from M&T Bank’s previous quarterly dividend of $1.35. This represents a $6.00 annualized dividend and a dividend yield of 3.3%. M&T Bank’s dividend payout ratio (DPR) is currently 36.95%.

Analysts Set New Price Targets

MTB has been the subject of several recent research reports. TD Cowen raised their price target on M&T Bank from $235.00 to $245.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Cowen restated a “buy” rating on shares of M&T Bank in a report on Monday, October 20th. Piper Sandler began coverage on M&T Bank in a report on Monday, October 6th. They set an “overweight” rating and a $225.00 price objective on the stock. DA Davidson raised their price objective on M&T Bank from $189.00 to $207.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Finally, Jefferies Financial Group upped their price target on shares of M&T Bank from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, M&T Bank currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.76.

M&T Bank Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.