M&T Bank Co. (NYSE:MTB) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio cut its holdings in M&T Bank Co. (NYSE:MTB - Free Report) by 4.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,364 shares of the financial services provider's stock after selling 3,007 shares during the period. Public Employees Retirement System of Ohio's holdings in M&T Bank were worth $10,752,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Plato Investment Management Ltd grew its stake in M&T Bank by 2,300.0% in the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider's stock worth $30,000 after buying an additional 161 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in M&T Bank in the 3rd quarter worth approximately $32,000. Hexagon Capital Partners LLC boosted its stake in M&T Bank by 54.4% in the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider's stock worth $34,000 after buying an additional 68 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in M&T Bank by 329.2% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 158 shares during the last quarter. Finally, Oakworth Capital Inc. purchased a new position in shares of M&T Bank during the second quarter worth approximately $35,000. Hedge funds and other institutional investors own 84.68% of the company's stock.

Insider Buying and Selling

In related news, Director John P. Barnes sold 20,000 shares of the company's stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $193.97, for a total transaction of $3,879,400.00. Following the sale, the director now owns 49,960 shares of the company's stock, valued at $9,690,741.20. This represents a 28.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John R. Taylor sold 1,436 shares of M&T Bank stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $195.03, for a total value of $280,063.08. Following the completion of the transaction, the executive vice president now owns 5,618 shares of the company's stock, valued at approximately $1,095,678.54. This trade represents a 20.36 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,994 shares of company stock worth $17,211,278. 0.82% of the stock is owned by insiders.

M&T Bank Stock Down 1.0 %

Shares of MTB traded down $2.07 on Thursday, reaching $199.90. The stock had a trading volume of 1,714,724 shares, compared to its average volume of 1,040,342. The firm has a market capitalization of $33.17 billion, a price-to-earnings ratio of 14.80, a price-to-earnings-growth ratio of 2.96 and a beta of 0.76. The company has a 50-day simple moving average of $202.08 and a 200-day simple moving average of $175.20. M&T Bank Co. has a 12-month low of $128.31 and a 12-month high of $225.70. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99.

M&T Bank (NYSE:MTB - Get Free Report) last announced its earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, beating analysts' consensus estimates of $3.60 by $0.48. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.30 billion. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. Sell-side analysts predict that M&T Bank Co. will post 14.63 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Monday, December 2nd. M&T Bank's payout ratio is presently 39.97%.

Analysts Set New Price Targets

Several research firms have issued reports on MTB. Compass Point upped their price target on shares of M&T Bank from $220.00 to $250.00 and gave the company a "neutral" rating in a research report on Tuesday. Royal Bank of Canada increased their target price on M&T Bank from $190.00 to $208.00 and gave the company an "outperform" rating in a report on Friday, October 18th. Bank of America lifted their price target on M&T Bank from $188.00 to $218.00 and gave the stock a "buy" rating in a research note on Friday, October 18th. Wedbush increased their price objective on M&T Bank from $208.00 to $210.00 and gave the company an "outperform" rating in a research note on Tuesday, September 24th. Finally, Citigroup cut shares of M&T Bank from a "buy" rating to a "neutral" rating and raised their target price for the stock from $220.00 to $230.00 in a report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, M&T Bank has an average rating of "Hold" and a consensus price target of $211.58.

About M&T Bank

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.