Public Employees Retirement System of Ohio Sells 3,269 Shares of M&T Bank Co. (NYSE:MTB)

Public Employees Retirement System of Ohio reduced its holdings in M&T Bank Co. (NYSE:MTB - Free Report) by 5.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,095 shares of the financial services provider's stock after selling 3,269 shares during the quarter. Public Employees Retirement System of Ohio's holdings in M&T Bank were worth $10,734,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vise Technologies Inc. grew its position in M&T Bank by 58.8% during the fourth quarter. Vise Technologies Inc. now owns 2,638 shares of the financial services provider's stock valued at $496,000 after acquiring an additional 977 shares during the period. Connecticut Wealth Management LLC boosted its holdings in M&T Bank by 2.4% in the fourth quarter. Connecticut Wealth Management LLC now owns 7,872 shares of the financial services provider's stock valued at $1,480,000 after purchasing an additional 185 shares during the last quarter. Gordian Capital Singapore Pte Ltd acquired a new stake in M&T Bank during the fourth quarter valued at approximately $840,000. Pinkerton Retirement Specialists LLC acquired a new stake in M&T Bank during the fourth quarter valued at approximately $783,000. Finally, Focus Partners Advisor Solutions LLC lifted its holdings in shares of M&T Bank by 81.3% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 6,774 shares of the financial services provider's stock worth $1,274,000 after purchasing an additional 3,037 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company's stock.

Insider Buying and Selling

In related news, EVP Christopher E. Kay sold 1,738 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the transaction, the executive vice president now owns 10,751 shares in the company, valued at approximately $1,852,827.34. This represents a 13.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Piper Sandler lowered their target price on M&T Bank from $220.00 to $210.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Robert W. Baird reduced their price objective on M&T Bank from $220.00 to $200.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. JPMorgan Chase & Co. decreased their target price on M&T Bank from $212.50 to $186.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Jefferies Financial Group set a $225.00 target price on M&T Bank and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Finally, Wall Street Zen raised M&T Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $212.53.

M&T Bank Trading Down 0.6%

MTB traded down $1.17 during trading on Friday, reaching $181.79. 331,499 shares of the company's stock were exchanged, compared to its average volume of 1,145,531. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. M&T Bank Co. has a fifty-two week low of $139.78 and a fifty-two week high of $225.70. The company's fifty day moving average price is $172.39 and its 200-day moving average price is $188.12. The firm has a market capitalization of $29.18 billion, a PE ratio of 12.43, a P/E/G ratio of 1.38 and a beta of 0.58.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.35 billion. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same quarter in the prior year, the firm posted $3.09 EPS. As a group, equities analysts forecast that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Monday, June 2nd. M&T Bank's dividend payout ratio (DPR) is presently 36.17%.

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.