Public Sector Pension Investment Board Purchases 800 Shares of M&T Bank Co. (NYSE:MTB)

Public Sector Pension Investment Board grew its position in M&T Bank Co. (NYSE:MTB) by 2.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,095 shares of the financial services provider’s stock after purchasing an additional 800 shares during the period. Public Sector Pension Investment Board’s holdings in M&T Bank were worth $5,182,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Plato Investment Management Ltd lifted 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 valued at $30,000 after acquiring an additional 161 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in M&T Bank during the third quarter worth $32,000. Hexagon Capital Partners LLC grew its position 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 valued at $34,000 after purchasing an additional 68 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in M&T Bank by 329.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after buying an additional 158 shares during the last quarter. Finally, Oakworth Capital Inc. bought a new stake in M&T Bank during the 2nd quarter worth about $35,000. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Tracy S. Woodrow sold 2,121 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total transaction of $468,210.75. Following the completion of the sale, the executive vice president now owns 5,141 shares of the company’s stock, valued at $1,134,875.75. This represents a 29.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Rene F. Jones sold 23,071 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $193.88, for a total transaction of $4,473,005.48. Following the completion of the transaction, the chief executive officer now directly owns 77,226 shares in the company, valued at approximately $14,972,576.88. This represents a 23.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 92,504 shares of company stock worth $18,394,012. 0.82% of the stock is currently owned by company insiders.

M&T Bank Stock Down 0.4 %

MTB opened at $219.99 on Monday. The stock has a fifty day moving average of $196.45 and a 200-day moving average of $172.10. The company has a market capitalization of $36.50 billion, a P/E ratio of 16.28, a P/E/G ratio of 3.10 and a beta of 0.74. M&T Bank Co. has a fifty-two week low of $125.61 and a fifty-two week 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) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.60 by $0.48. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.30 billion. On average, equities analysts expect that M&T Bank Co. will post 14.57 EPS for the current year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be issued a $1.35 dividend. The ex-dividend date is Monday, December 2nd. This represents a $5.40 annualized dividend and a yield of 2.45%. M&T Bank’s dividend payout ratio is presently 39.97%.

Analyst Ratings Changes

MTB has been the topic of a number of recent research reports. Bank of America lifted their target price on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research report on Friday, October 18th. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Morgan Stanley boosted their target price on shares of M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. JPMorgan Chase & Co. upgraded shares of M&T Bank from a “neutral” rating to an “overweight” rating and increased their price target for the company from $183.00 to $215.00 in a research note on Tuesday, September 3rd. Finally, DA Davidson upped their target price on shares of M&T Bank from $192.00 to $207.00 and gave the company a “neutral” rating in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $206.41.

M&T Bank Profile

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.