Public Employees Retirement System of Ohio Sells 2,064 Shares of M&T Bank Corporation $MTB

Public Employees Retirement System of Ohio lessened its stake in M&T Bank Corporation (NYSE:MTB) by 4.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,203 shares of the financial services provider’s stock after selling 2,064 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in M&T Bank were worth $9,138,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MTB. Oslo Pensjonsforsikring AS acquired a new stake in M&T Bank in the first quarter valued at $158,000. Parallel Advisors LLC increased its stake in shares of M&T Bank by 9.9% during the 1st quarter. Parallel Advisors LLC now owns 3,846 shares of the financial services provider’s stock worth $795,000 after purchasing an additional 345 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of M&T Bank by 19.5% in the 1st quarter. Bessemer Group Inc. now owns 27,500 shares of the financial services provider’s stock valued at $5,685,000 after purchasing an additional 4,493 shares during the period. Ibex Wealth Advisors bought a new stake in shares of M&T Bank in the 1st quarter valued at about $593,000. Finally, Bogart Wealth LLC lifted its stake in M&T Bank by 233.3% in the 1st quarter. Bogart Wealth LLC now owns 120 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 84 shares during the last quarter. 84.68% of the stock is owned by institutional investors.

M&T Bank Stock Down 0.5%

Shares of MTB opened at $248.35 on Tuesday. The firm has a market cap of $36.37 billion, a P/E ratio of 13.11, a price-to-earnings-growth ratio of 1.16 and a beta of 0.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.94 and a current ratio of 0.89. M&T Bank Corporation has a 52 week low of $174.76 and a 52 week high of $255.00. The firm’s 50-day simple moving average is $231.06 and its 200 day simple moving average is $220.90.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $0.69. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period last year, the business posted $4.28 earnings per share. On average, analysts forecast that M&T Bank Corporation will post 19.42 earnings per share for the current year.

M&T Bank declared that its board has authorized a stock repurchase program on Tuesday, March 31st that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 16.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MTB. Morgan Stanley lifted their price target on M&T Bank from $245.00 to $253.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Deutsche Bank Aktiengesellschaft lowered M&T Bank from a “buy” rating to a “hold” rating and set a $250.00 price objective on the stock. in a research note on Thursday, July 23rd. Evercore set a $260.00 target price on M&T Bank in a research note on Monday, July 6th. Truist Financial boosted their target price on M&T Bank from $230.00 to $268.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. Finally, DA Davidson increased their price target on M&T Bank from $263.00 to $266.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Seven analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, M&T Bank currently has a consensus rating of “Hold” and an average target price of $251.43.

Insiders Place Their Bets

In related news, EVP Christopher E. Kay sold 3,105 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $216.50, for a total value of $672,232.50. Following the completion of the sale, the executive vice president directly owned 6,753 shares in the company, valued at $1,462,024.50. The trade was a 31.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.44% of the company’s stock.

M&T Bank Company Profile

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.