New Mexico Educational Retirement Board lifted its position in shares of M&T Bank Co. (NYSE:MTB – Free Report) by 2.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,226 shares of the financial services provider’s stock after purchasing an additional 200 shares during the period. New Mexico Educational Retirement Board’s holdings in M&T Bank were worth $1,018,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in MTB. Clear Street Markets LLC bought a new position in shares of M&T Bank during the fourth quarter valued at about $25,000. Quarry LP bought a new position in shares of M&T Bank during the first quarter valued at about $27,000. Sunbelt Securities Inc. bought a new position in shares of M&T Bank during the first quarter valued at about $27,000. Janiczek Wealth Management LLC raised its position in M&T Bank by 358.2% in the first quarter. Janiczek Wealth Management LLC now owns 252 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 197 shares during the period. Finally, Annapolis Financial Services LLC raised its position in M&T Bank by 42.7% in the first quarter. Annapolis Financial Services LLC now owns 311 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 93 shares during the period. 82.86% of the stock is owned by institutional investors.
M&T Bank Price Performance
Shares of NYSE:MTB opened at $126.45 on Friday. The company has a 50 day moving average of $129.99 and a 200 day moving average of $125.21. The stock has a market cap of $20.98 billion, a P/E ratio of 7.49, a P/E/G ratio of 0.94 and a beta of 0.81. M&T Bank Co. has a 12 month low of $109.36 and a 12 month high of $192.56. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.31.
M&T Bank Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 1st were paid a dividend of $1.30 per share. The ex-dividend date was Thursday, August 31st. This represents a $5.20 annualized dividend and a yield of 4.11%. M&T Bank’s dividend payout ratio is currently 30.81%.
Insider Activity at M&T Bank
In other M&T Bank news, Director John P. Barnes sold 53,542 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $140.00, for a total value of $7,495,880.00. Following the completion of the transaction, the director now owns 34,545 shares of the company’s stock, valued at approximately $4,836,300. The transaction was disclosed in a filing with the SEC, which is available through this link. In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $136.02, for a total value of $136,020.00. Following the completion of the transaction, the executive vice president now owns 7,055 shares of the company’s stock, valued at approximately $959,621.10. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John P. Barnes sold 53,542 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $140.00, for a total transaction of $7,495,880.00. Following the completion of the transaction, the director now directly owns 34,545 shares of the company’s stock, valued at approximately $4,836,300. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,876 shares of company stock valued at $7,819,234. Corporate insiders own 0.97% of the company’s stock.
Analyst Ratings Changes
Several analysts have commented on the stock. StockNews.com lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. DA Davidson lowered their price objective on shares of M&T Bank from $138.00 to $132.00 in a research report on Wednesday, June 14th. Odeon Capital Group lowered shares of M&T Bank from a “buy” rating to a “hold” rating and set a $133.65 price objective on the stock. in a research report on Friday. Wedbush lifted their price objective on shares of M&T Bank from $149.00 to $156.00 and gave the stock an “outperform” rating in a research report on Thursday, July 20th. Finally, Wells Fargo & Company lowered their price objective on shares of M&T Bank from $145.00 to $140.00 in a research report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, M&T Bank presently has an average rating of “Hold” and an average target price of $154.69.
Check Out Our Latest Stock Analysis on M&T Bank
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 offer retail and commercial banking products and services in the United States. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals.
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