California State Teachers Retirement System Sells 2,269 Shares of M&T Bank Corporation $MTB

California State Teachers Retirement System lowered its position in shares of M&T Bank Corporation (NYSE:MTB - Free Report) by 1.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 212,140 shares of the financial services provider's stock after selling 2,269 shares during the quarter. California State Teachers Retirement System owned 0.15% of M&T Bank worth $50,491,441 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bogart Wealth LLC raised its stake in shares of M&T Bank by 233.3% in the first quarter. Bogart Wealth LLC now owns 120 shares of the financial services provider's stock worth $25,000 after buying an additional 84 shares during the period. First Bancorp Inc ME acquired a new position in shares of M&T Bank during the 2nd quarter worth approximately $25,000. Elyxium Wealth LLC purchased a new position in M&T Bank during the 4th quarter valued at about $33,000. FNY Investment Advisers LLC purchased a new position in shares of M&T Bank in the 2nd quarter valued at $51,000. Finally, NBH Bank acquired a new stake in shares of M&T Bank in the second quarter valued at about $51,000. 84.68% of the stock is currently owned by institutional investors.

Insider Transactions at M&T Bank

In other M&T Bank news, Director Rudina Seseri sold 623 shares of the company's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $241.04, for a total value of $150,167.92. Following the completion of the transaction, the director owned 3,649 shares in the company, valued at $879,554.96. This represents a 14.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.44% of the stock is currently owned by corporate insiders.

M&T Bank Stock Down 0.9%

Shares of NYSE:MTB traded down $2.15 during trading hours on Tuesday, reaching $235.66. The stock had a trading volume of 542,597 shares, compared to its average volume of 1,126,240. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.96 and a current ratio of 0.96. M&T Bank Corporation has a 1 year low of $174.76 and a 1 year high of $255.95. The firm's 50 day moving average is $244.81 and its 200-day moving average is $226.42. The stock has a market capitalization of $34.03 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 1.36 and a beta of 0.56.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly 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. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the prior year, the business posted $4.28 earnings per share. Research analysts predict that M&T Bank Corporation will post 19.45 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 1st. M&T Bank's dividend payout ratio (DPR) is presently 31.68%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Barclays increased their price target on M&T Bank from $236.00 to $267.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 16th. Truist Financial boosted their target price on M&T Bank from $230.00 to $268.00 and gave the company a "hold" rating in a research note on Tuesday, July 21st. Keefe, Bruyette & Woods lifted their price target on M&T Bank from $242.00 to $250.00 and gave the company a "market perform" rating in a research note on Thursday, July 16th. Morgan Stanley upgraded shares of M&T Bank from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $253.00 to $304.00 in a report on Tuesday, September 8th. Finally, JPMorgan Chase & Co. upped their price target on shares of M&T Bank from $251.50 to $265.50 and gave the company a "neutral" rating in a report on Wednesday, July 29th. Eight equities research 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 data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $255.97.

M&T Bank Profile

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.

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