New York State Common Retirement Fund Sells 15,818 Shares of M&T Bank Co. (NYSE:MTB)

New York State Common Retirement Fund decreased its holdings in M&T Bank Co. (NYSE:MTB - Free Report) by 7.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 189,070 shares of the financial services provider's stock after selling 15,818 shares during the period. New York State Common Retirement Fund owned about 0.11% of M&T Bank worth $25,918,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Headinvest LLC acquired a new position in shares of M&T Bank in the third quarter worth $29,000. BKM Wealth Management LLC acquired a new position in shares of M&T Bank during the fourth quarter worth $32,000. Creative Financial Designs Inc. ADV acquired a new position in shares of M&T Bank during the fourth quarter worth $33,000. CVA Family Office LLC acquired a new position in shares of M&T Bank during the fourth quarter worth $33,000. Finally, Planned Solutions Inc. acquired a new position in shares of M&T Bank during the fourth quarter worth $33,000. Institutional investors and hedge funds own 84.68% of the company's stock.

M&T Bank Stock Performance

NYSE MTB traded down $0.52 during trading hours on Friday, hitting $146.38. 657,622 shares of the stock were exchanged, compared to its average volume of 1,045,147. The company has a market cap of $24.39 billion, a price-to-earnings ratio of 9.90, a price-to-earnings-growth ratio of 1.23 and a beta of 0.80. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $148.93. The stock has a 50-day moving average of $141.00 and a 200 day moving average of $133.82. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11). The firm had revenue of $2.26 billion for the quarter, compared to analysts' expectations of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same period in the prior year, the company earned $4.09 earnings per share. As a group, equities research analysts forecast that M&T Bank Co. will post 13.92 earnings per share for the current year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were issued a dividend of $1.30 per share. The ex-dividend date was Friday, March 1st. This represents a $5.20 annualized dividend and a yield of 3.55%. M&T Bank's dividend payout ratio is currently 35.16%.

Insider Buying and Selling

In related news, EVP Doris P. Meister sold 1,638 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $138.21, for a total transaction of $226,387.98. Following the completion of the transaction, the executive vice president now directly owns 3,362 shares of the company's stock, valued at $464,662.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other M&T Bank news, EVP Doris P. Meister sold 1,638 shares of the company's stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $138.21, for a total transaction of $226,387.98. Following the transaction, the executive vice president now directly owns 3,362 shares in the company, valued at $464,662.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Doris P. Meister sold 1,000 shares of the company's stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $132.30, for a total transaction of $132,300.00. Following the transaction, the executive vice president now owns 7,274 shares in the company, valued at $962,350.20. The disclosure for this sale can be found here. Insiders sold 37,119 shares of company stock valued at $5,341,012 over the last ninety days. Corporate insiders own 0.82% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MTB shares. Bank of America boosted their target price on shares of M&T Bank from $157.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. boosted their target price on shares of M&T Bank from $170.00 to $180.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 16th. Piper Sandler reduced their price target on shares of M&T Bank from $156.00 to $152.00 and set an "overweight" rating for the company in a research report on Friday, January 19th. Keefe, Bruyette & Woods boosted their price target on shares of M&T Bank from $162.00 to $170.00 and gave the company a "market perform" rating in a research report on Tuesday, April 16th. Finally, UBS Group boosted their price target on shares of M&T Bank from $139.00 to $154.00 in a research report on Wednesday, January 17th. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $158.48.

M&T Bank Company Profile

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.