Public Employees Retirement System of Ohio Lowers Stock Holdings in M&T Bank Co. (NYSE:MTB)

Public Employees Retirement System of Ohio trimmed its holdings in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 5.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MTB. Banque Transatlantique SA purchased a new position in shares of M&T Bank during the fourth quarter worth about $38,000. Y.D. More Investments Ltd grew its stake in M&T Bank by 122.6% in the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock worth $39,000 after buying an additional 114 shares in the last quarter. Human Investing LLC purchased a new position in M&T Bank in the 4th quarter worth approximately $44,000. Sierra Ocean LLC purchased a new position in M&T Bank in the 4th quarter worth approximately $44,000. Finally, Loomis Sayles & Co. L P purchased a new position in M&T Bank in the 4th quarter worth approximately $52,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Christopher E. Kay sold 1,738 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the completion of the transaction, the executive vice president now owns 10,751 shares in the company, valued at $1,852,827.34. This trade represents a 13.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.53% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MTB has been the subject of several research reports. Robert W. Baird cut their target price on shares of M&T Bank from $220.00 to $200.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Jefferies Financial Group set a $225.00 price objective on M&T Bank and gave the stock a "buy" rating in a report on Wednesday, May 21st. Piper Sandler cut their target price on M&T Bank from $220.00 to $210.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Citigroup cut their target price on M&T Bank from $230.00 to $195.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Finally, TD Cowen started coverage on M&T Bank in a research note on Thursday, May 15th. They issued a "buy" rating and a $230.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $212.53.

M&T Bank Trading Down 1.4%

NYSE MTB traded down $2.53 on Wednesday, hitting $181.60. The company's stock had a trading volume of 1,009,696 shares, compared to its average volume of 1,146,570. M&T Bank Co. has a 52-week low of $139.78 and a 52-week high of $225.70. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The company's 50-day simple moving average is $172.31 and its 200 day simple moving average is $188.39. The firm has a market cap of $29.15 billion, a P/E ratio of 12.41, a PEG ratio of 1.38 and a beta of 0.58.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings results on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. The business had revenue of $2.31 billion during the quarter, compared to analysts' expectations of $2.35 billion. During the same period in the previous year, the business earned $3.09 EPS. Research analysts predict that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Dividend Announcement

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

M&T Bank Company 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.