California Public Employees Retirement System Has $55.46 Million Stock Holdings in M&T Bank Co. (NYSE:MTB)

California Public Employees Retirement System lessened its stake in M&T Bank Co. (NYSE:MTB - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 295,008 shares of the financial services provider's stock after selling 3,658 shares during the quarter. California Public Employees Retirement System owned approximately 0.18% of M&T Bank worth $55,464,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Sanctuary Advisors LLC lifted its holdings in M&T Bank by 0.3% during the 4th quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider's stock worth $3,195,000 after buying an additional 52 shares during the last quarter. Catalina Capital Group LLC lifted its stake in M&T Bank by 2.0% during the fourth quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider's stock worth $531,000 after purchasing an additional 56 shares during the last quarter. Parallel Advisors LLC boosted its holdings in M&T Bank by 1.7% in the fourth quarter. Parallel Advisors LLC now owns 3,512 shares of the financial services provider's stock worth $660,000 after purchasing an additional 60 shares during the period. Sheaff Brock Investment Advisors LLC increased its stake in M&T Bank by 1.2% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 5,188 shares of the financial services provider's stock valued at $975,000 after purchasing an additional 63 shares during the last quarter. Finally, Meridian Wealth Management LLC raised its holdings in shares of M&T Bank by 3.8% during the fourth quarter. Meridian Wealth Management LLC now owns 1,786 shares of the financial services provider's stock worth $336,000 after purchasing an additional 66 shares during the period. Institutional investors own 84.68% of the company's stock.

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M&T Bank Price Performance

Shares of NYSE MTB traded down $6.23 during midday trading on Friday, reaching $157.13. The company's stock had a trading volume of 2,483,308 shares, compared to its average volume of 1,101,964. The company has a market cap of $25.82 billion, a price-to-earnings ratio of 10.74, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. M&T Bank Co. has a one year low of $133.03 and a one year high of $225.70. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The company has a 50 day moving average price of $186.82 and a 200 day moving average price of $192.80.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, beating analysts' consensus estimates of $3.70 by $0.22. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same quarter in the prior year, the firm posted $2.74 earnings per share. On average, equities research analysts expect that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank announced that its board has initiated a share repurchase plan on Wednesday, January 22nd that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 12.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were paid a $1.35 dividend. The ex-dividend date was Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 3.44%. M&T Bank's dividend payout ratio is currently 36.91%.

Insiders Place Their Bets

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the sale, the executive vice president now owns 10,751 shares of the company's stock, valued at $1,852,827.34. This trade represents a 13.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.53% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of M&T Bank from $269.00 to $253.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. StockNews.com upgraded M&T Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, February 5th. Barclays boosted their price objective on M&T Bank from $228.00 to $235.00 and gave the company an "equal weight" rating in a research report on Monday, January 6th. Wells Fargo & Company cut their target price on M&T Bank from $205.00 to $185.00 and set an "underweight" rating on the stock in a research note on Friday, March 28th. Finally, Truist Financial lowered their price target on shares of M&T Bank from $236.00 to $225.00 and set a "buy" rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $215.97.

M&T Bank Company Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.