California State Teachers Retirement System Has $42.79 Million Holdings in M&T Bank Co. (MTB)

California State Teachers Retirement System reduced its position in shares of M&T Bank Co. (NYSE:MTB) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 250,246 shares of the financial services provider’s stock after selling 2,132 shares during the period. California State Teachers Retirement System owned approximately 0.17% of M&T Bank worth $42,790,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. New Mexico Educational Retirement Board lifted its holdings in M&T Bank by 2.1% during the 4th quarter. New Mexico Educational Retirement Board now owns 14,590 shares of the financial services provider’s stock worth $2,495,000 after purchasing an additional 300 shares during the last quarter. ETRADE Capital Management LLC lifted its holdings in M&T Bank by 9.8% during the 4th quarter. ETRADE Capital Management LLC now owns 3,778 shares of the financial services provider’s stock worth $646,000 after purchasing an additional 336 shares during the last quarter. Strs Ohio lifted its holdings in M&T Bank by 2.7% during the 4th quarter. Strs Ohio now owns 12,987 shares of the financial services provider’s stock worth $2,220,000 after purchasing an additional 341 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in M&T Bank by 3.6% during the 4th quarter. Crossmark Global Holdings Inc. now owns 11,891 shares of the financial services provider’s stock worth $2,033,000 after purchasing an additional 417 shares during the last quarter. Finally, MML Investors Services LLC lifted its holdings in M&T Bank by 7.3% during the 4th quarter. MML Investors Services LLC now owns 6,958 shares of the financial services provider’s stock worth $1,190,000 after purchasing an additional 473 shares during the last quarter. 77.62% of the stock is owned by institutional investors and hedge funds.

MTB has been the subject of several research reports. Barclays lifted their price target on M&T Bank from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, February 26th. Zacks Investment Research raised M&T Bank from a “hold” rating to a “strong-buy” rating and set a $217.00 price objective for the company in a report on Wednesday, January 24th. ValuEngine raised M&T Bank from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Royal Bank of Canada reaffirmed a “buy” rating on shares of M&T Bank in a report on Friday, January 19th. Finally, Piper Jaffray reaffirmed a “neutral” rating on shares of M&T Bank in a report on Thursday, January 18th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company. M&T Bank currently has a consensus rating of “Hold” and a consensus price target of $175.47.

In related news, Director Robert E. Sadler, Jr. sold 1,000 shares of the business’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $194.85, for a total transaction of $194,850.00. Following the sale, the director now owns 52,197 shares in the company, valued at approximately $10,170,585.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert J. Bojdak sold 1,062 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $195.17, for a total value of $207,270.54. Following the sale, the insider now owns 22,071 shares in the company, valued at approximately $4,307,597.07. The disclosure for this sale can be found here. Insiders have sold a total of 72,091 shares of company stock valued at $13,594,655 in the last three months. 0.48% of the stock is owned by insiders.

Shares of M&T Bank stock traded down $4.87 during trading on Friday, reaching $181.69. 641,493 shares of the company’s stock were exchanged, compared to its average volume of 619,647. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.05 and a current ratio of 1.05. M&T Bank Co. has a 1-year low of $141.12 and a 1-year high of $197.37. The stock has a market capitalization of $28,017.00, a P/E ratio of 19.43, a price-to-earnings-growth ratio of 1.19 and a beta of 0.90.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, January 18th. The financial services provider reported $2.66 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.26. M&T Bank had a return on equity of 10.12% and a net margin of 23.40%. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the firm earned $1.98 EPS. M&T Bank’s revenue was up 2.8% on a year-over-year basis. research analysts forecast that M&T Bank Co. will post 12.24 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Monday, March 5th were issued a dividend of $0.75 per share. The ex-dividend date was Friday, March 2nd. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.65%. M&T Bank’s dividend payout ratio (DPR) is currently 32.09%.

M&T Bank announced that its Board of Directors has authorized a share repurchase program on Monday, February 5th that permits the company to buyback $745.00 million in outstanding shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

TRADEMARK VIOLATION WARNING: “California State Teachers Retirement System Has $42.79 Million Holdings in M&T Bank Co. (MTB)” was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this piece on another domain, it was stolen and reposted in violation of U.S. and international trademark and copyright law. The original version of this piece can be read at https://www.dispatchtribunal.com/2018/04/07/california-state-teachers-retirement-system-trims-stake-in-mt-bank-co-mtb.html.

About M&T Bank

M&T Bank Corporation (M&T) is a bank holding company. As of December 31, 2016, M&T had two bank subsidiaries: Manufacturers and Traders Trust Company (M&T Bank) and Wilmington Trust, National Association (Wilmington Trust, N.A.). The Company, along with its subsidiaries, offers a range of retail and commercial banking, trust and wealth management, and investment services.

Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

Receive News & Ratings for M&T Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M&T Bank and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply