California State Teachers Retirement System Has $12.02 Billion Position in M&T Bank Corporation $MTB

California State Teachers Retirement System raised its stake in M&T Bank Corporation (NYSE:MTB - Free Report) by 23,449.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,491,441 shares of the financial services provider's stock after acquiring an additional 50,277,032 shares during the period. California State Teachers Retirement System owned approximately 34.96% of M&T Bank worth $12,017,468,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Bogart Wealth LLC increased its position 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 purchasing an additional 84 shares during the period. First Bancorp Inc ME bought a new stake in M&T Bank during the second quarter worth about $25,000. Triumph Capital Management bought a new stake in M&T Bank during the third quarter worth about $32,000. Elyxium Wealth LLC acquired a new stake in M&T Bank during the fourth quarter worth about $33,000. Finally, Bank of Jackson Hole Trust grew its stake in M&T Bank by 38.7% during the fourth quarter. Bank of Jackson Hole Trust now owns 215 shares of the financial services provider's stock worth $43,000 after buying an additional 60 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other M&T Bank news, Director Rudina Seseri sold 623 shares of the stock in a transaction dated 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 directly owned 3,649 shares in the company, valued at approximately $879,554.96. This trade represents a 14.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.44% of the company's stock.

M&T Bank Stock Performance

NYSE MTB opened at $238.54 on Wednesday. The firm's fifty day moving average price is $244.91 and its two-hundred day moving average price is $226.05. The stock has a market cap of $34.45 billion, a PE ratio of 12.59, a PEG ratio of 1.36 and a beta of 0.56. 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 fifty-two week low of $174.76 and a fifty-two week high of $255.95.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $5.35 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $2.53 billion during the quarter, compared to analysts' expectations of $2.46 billion. During the same period in the prior year, the company earned $4.28 EPS. On average, equities analysts expect that M&T Bank Corporation will post 19.43 EPS for the current fiscal year.

M&T Bank Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MTB. Deutsche Bank Aktiengesellschaft cut 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 report on Thursday, July 23rd. DA Davidson increased their price target on shares of M&T Bank from $263.00 to $266.00 and gave the stock a "neutral" rating in a research report on Thursday, July 16th. Jefferies Financial Group reissued a "buy" rating and issued a $300.00 price objective on shares of M&T Bank in a research note on Wednesday, July 15th. Morgan Stanley upgraded shares of M&T Bank from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $253.00 to $304.00 in a research report on Tuesday. Finally, UBS Group upped their target price on M&T Bank from $252.00 to $255.00 and gave the stock a "neutral" rating in a research note on Monday, August 3rd. Eight research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, M&T Bank has an average rating of "Hold" and an average price target of $255.97.

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.

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