Strs Ohio Has $17.74 Million Stake in M&T Bank Corporation $MTB

Strs Ohio reduced its stake in shares of M&T Bank Corporation (NYSE:MTB) by 19.2% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 85,832 shares of the financial services provider’s stock after selling 20,450 shares during the quarter. Strs Ohio’s holdings in M&T Bank were worth $17,743,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MTB. Canoe Financial LP boosted its stake in shares of M&T Bank by 50.5% during the 4th quarter. Canoe Financial LP now owns 652,744 shares of the financial services provider’s stock worth $131,515,000 after acquiring an additional 219,065 shares in the last quarter. Miller Howard Investments Inc. NY bought a new position in shares of M&T Bank in the 4th quarter valued at approximately $42,817,000. Danske Bank A S acquired a new stake in M&T Bank in the 3rd quarter worth approximately $29,612,000. Russell Investments Group Ltd. lifted its holdings in M&T Bank by 94.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 292,839 shares of the financial services provider’s stock worth $57,879,000 after purchasing an additional 142,593 shares during the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich boosted its position in M&T Bank by 37.1% during the fourth quarter. Munich Reinsurance Co Stock Corp in Munich now owns 351,076 shares of the financial services provider’s stock worth $71,462,000 after purchasing an additional 95,025 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

MTB has been the topic of several analyst reports. DA Davidson increased their price target on M&T Bank from $233.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. Weiss Ratings restated a “buy (b)” rating on shares of M&T Bank in a research note on Thursday, June 4th. Wall Street Zen raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. UBS Group set a $235.00 target price on shares of M&T Bank in a report on Thursday, April 16th. Finally, Piper Sandler lifted their target price on shares of M&T Bank from $235.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Eight investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $236.00.

M&T Bank Stock Performance

MTB opened at $238.85 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.44. The stock’s 50 day moving average price is $220.63 and its two-hundred day moving average price is $216.35. The firm has a market capitalization of $34.98 billion, a P/E ratio of 13.37, a price-to-earnings-growth ratio of 1.17 and a beta of 0.57. M&T Bank Corporation has a 12-month low of $174.76 and a 12-month high of $243.57.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.18 EPS for the quarter, topping analysts’ consensus estimates of $4.02 by $0.16. M&T Bank had a return on equity of 11.35% and a net margin of 22.07%.The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the company earned $3.32 earnings per share. On average, equities analysts forecast that M&T Bank Corporation will post 18.8 earnings per share for the current year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 1st were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $6.00 dividend on an annualized basis and a yield of 2.5%. M&T Bank’s payout ratio is 33.59%.

M&T Bank declared that its Board of Directors has approved a share buyback plan on Tuesday, March 31st that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 16.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Christopher E. Kay sold 3,105 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $216.50, for a total transaction of $672,232.50. Following the completion of the transaction, the executive vice president directly owned 6,753 shares in the company, valued at $1,462,024.50. This represents a 31.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.44% of the stock is currently owned by insiders.

About M&T Bank

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.