Strs Ohio Sells 19,934 Shares of M&T Bank Co. (NYSE:MTB)

Strs Ohio reduced its position in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 9.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 197,066 shares of the financial services provider's stock after selling 19,934 shares during the quarter. Strs Ohio owned about 0.12% of M&T Bank worth $27,013,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Clear Street Markets LLC acquired a new stake in shares of M&T Bank during the 4th quarter valued at $25,000. RVW Wealth LLC purchased a new stake in shares of M&T Bank in the third quarter valued at $27,000. Quarry LP purchased a new stake in shares of M&T Bank in the first quarter valued at $27,000. Sunbelt Securities Inc. purchased a new stake in shares of M&T Bank in the first quarter valued at $27,000. Finally, BKM Wealth Management LLC purchased a new stake in shares of M&T Bank in the fourth quarter valued at $32,000. Institutional investors and hedge funds own 84.68% of the company's stock.

M&T Bank Stock Down 2.5 %

M&T Bank stock traded down $3.57 during mid-day trading on Tuesday, hitting $137.37. 1,233,249 shares of the company's stock were exchanged, compared to its average volume of 1,217,202. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The stock has a market cap of $22.89 billion, a P/E ratio of 8.71, a P/E/G ratio of 1.24 and a beta of 0.80. M&T Bank Co. has a 1-year low of $108.53 and a 1-year high of $148.23. The stock has a 50 day moving average of $139.44 and a two-hundred day moving average of $132.72.

M&T Bank (NYSE:MTB - Get Free Report) last posted its earnings results on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing the consensus estimate of $3.13 by ($0.11). The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. M&T Bank had a return on equity of 11.59% and a net margin of 21.49%. During the same period in the previous year, the company earned $4.09 earnings per share. As a group, analysts anticipate that M&T Bank Co. will post 13.89 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 3.79%. The ex-dividend date was Friday, March 1st. M&T Bank's dividend payout ratio is currently 32.95%.

Insider Activity

In other news, EVP Doris P. Meister sold 1,675 shares of the firm's stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $137.91, for a total value of $230,999.25. Following the sale, the executive vice president now directly owns 8,961 shares of the company's stock, valued at $1,235,811.51. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Doris P. Meister sold 3,961 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $143.60, for a total value of $568,799.60. Following the completion of the sale, the executive vice president now owns 5,000 shares in the company, valued at $718,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Doris P. Meister sold 1,675 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $137.91, for a total transaction of $230,999.25. Following the completion of the sale, the executive vice president now owns 8,961 shares of the company's stock, valued at approximately $1,235,811.51. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,481 shares of company stock valued at $5,114,624. 0.82% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Evercore ISI increased their target price on M&T Bank from $146.00 to $157.00 and gave the company an "in-line" rating in a report on Thursday, March 28th. Jefferies Financial Group reduced their target price on M&T Bank from $154.00 to $151.00 and set a "hold" rating for the company in a report on Monday, April 8th. Barclays increased their target price on M&T Bank from $150.00 to $170.00 and gave the company an "equal weight" rating in a report on Tuesday, January 2nd. JPMorgan Chase & Co. increased their target price on M&T Bank from $170.00 to $180.00 and gave the company a "neutral" rating in a report on Tuesday. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $160.00 price target on shares of M&T Bank in a research note on Tuesday. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, M&T Bank currently has an average rating of "Hold" and an average price target of $157.98.

About M&T Bank

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.