Teacher Retirement System of Texas raised its position in shares of M&T Bank Corporation (NYSE:MTB - Free Report) by 1,453.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,266 shares of the financial services provider's stock after acquiring an additional 22,704 shares during the period. Teacher Retirement System of Texas' holdings in M&T Bank were worth $4,338,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC lifted its holdings in M&T Bank by 14.3% during the 4th quarter. FMR LLC now owns 14,110,412 shares of the financial services provider's stock valued at $2,652,899,000 after buying an additional 1,761,014 shares in the last quarter. Geode Capital Management LLC grew its stake in M&T Bank by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,370,762 shares of the financial services provider's stock worth $819,768,000 after purchasing an additional 40,948 shares in the last quarter. Norges Bank purchased a new position in M&T Bank during the 4th quarter worth $317,690,000. Northern Trust Corp raised its position in M&T Bank by 14.7% during the 4th quarter. Northern Trust Corp now owns 1,683,329 shares of the financial services provider's stock valued at $316,483,000 after purchasing an additional 215,100 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of M&T Bank by 2.1% in the 4th quarter. First Trust Advisors LP now owns 1,605,724 shares of the financial services provider's stock worth $301,892,000 after buying an additional 33,017 shares during the period. Hedge funds and other institutional investors own 84.68% of the company's stock.
Analyst Upgrades and Downgrades
MTB has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft raised shares of M&T Bank from a "hold" rating to a "buy" rating and set a $210.00 target price on the stock in a research report on Thursday, April 24th. Truist Financial cut their price objective on shares of M&T Bank from $225.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. DA Davidson lowered their target price on M&T Bank from $205.00 to $189.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Robert W. Baird cut their price target on M&T Bank from $220.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Finally, Evercore ISI decreased their price objective on M&T Bank from $234.00 to $205.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, M&T Bank presently has an average rating of "Moderate Buy" and an average target price of $211.48.
Check Out Our Latest Stock Report on M&T Bank
Insider Activity at M&T Bank
In related news, Director Robert E. Sadler, Jr. sold 6,700 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $183.52, for a total transaction of $1,229,584.00. Following the sale, the director directly owned 23,070 shares of the company's stock, valued at approximately $4,233,806.40. This represents a 22.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.53% of the stock is owned by insiders.
M&T Bank Stock Performance
MTB traded down $0.47 during trading on Wednesday, reaching $200.33. 1,033,704 shares of the company's stock were exchanged, compared to its average volume of 1,189,139. The company's fifty day simple moving average is $184.69 and its 200-day simple moving average is $183.83. The stock has a market capitalization of $32.16 billion, a P/E ratio of 13.42, a price-to-earnings-growth ratio of 1.45 and a beta of 0.63. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.97 and a quick ratio of 0.97. M&T Bank Corporation has a 1 year low of $148.27 and a 1 year high of $225.70.
M&T Bank (NYSE:MTB - Get Free Report) last issued its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.41 by ($0.03). M&T Bank had a return on equity of 10.18% and a net margin of 19.86%. The business had revenue of $2.31 billion for the quarter, compared to analysts' expectations of $2.35 billion. During the same period last year, the business earned $3.09 EPS. As a group, research analysts predict that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.
M&T Bank Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were paid a dividend of $1.35 per share. The ex-dividend date was Monday, June 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.70%. M&T Bank's payout ratio is 36.17%.
About M&T Bank
(
Free Report)
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.
Read More

Before you consider M&T Bank, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and M&T Bank wasn't on the list.
While M&T Bank currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.