New York State Common Retirement Fund Sells 41,957 Shares of M&T Bank Co. (NYSE:MTB)

New York State Common Retirement Fund cut its stake in shares of M&T Bank Co. (NYSE:MTB) by 25.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 125,900 shares of the financial services provider’s stock after selling 41,957 shares during the period. New York State Common Retirement Fund’s holdings in M&T Bank were worth $22,425,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. US Bancorp DE grew its holdings in shares of M&T Bank by 3.0% during the 3rd quarter. US Bancorp DE now owns 6,743 shares of the financial services provider’s stock valued at $1,201,000 after purchasing an additional 195 shares during the last quarter. Meitav Investment House Ltd. grew its holdings in M&T Bank by 3.1% during the 3rd quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider’s stock worth $386,000 after acquiring an additional 69 shares during the last quarter. Cornerstone Wealth Group LLC grew its holdings in M&T Bank by 1.0% during the 3rd quarter. Cornerstone Wealth Group LLC now owns 28,045 shares of the financial services provider’s stock worth $4,995,000 after acquiring an additional 266 shares during the last quarter. First Trust Direct Indexing L.P. grew its holdings in M&T Bank by 28.5% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,205 shares of the financial services provider’s stock worth $927,000 after acquiring an additional 1,153 shares during the last quarter. Finally, Adams Diversified Equity Fund Inc. bought a new stake in M&T Bank during the 3rd quarter worth approximately $14,143,000. 84.68% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Kirk W. Walters sold 2,471 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.60, for a total transaction of $60,786.60. Following the transaction, the director now directly owns 20,414 shares of the company’s stock, valued at $502,184.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other M&T Bank news, Vice Chairman Kevin J. Pearson sold 6,095 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $162.28, for a total value of $989,096.60. Following the transaction, the insider now directly owns 47,944 shares of the company’s stock, valued at approximately $7,780,352.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kirk W. Walters sold 2,471 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.60, for a total transaction of $60,786.60. Following the completion of the transaction, the director now directly owns 20,414 shares in the company, valued at $502,184.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,234 shares of company stock valued at $12,586,627 over the last ninety days. 0.82% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MTB shares. The Goldman Sachs Group boosted their target price on shares of M&T Bank from $190.00 to $216.00 and gave the stock a “neutral” 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. Barclays boosted their target price on shares of M&T Bank from $170.00 to $228.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. DA Davidson boosted their target price on shares of M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Finally, Citigroup upped their price objective on shares of M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $198.76.

M&T Bank Stock Down 0.8 %

Shares of NYSE MTB opened at $190.67 on Tuesday. The firm has a market cap of $31.81 billion, a PE ratio of 14.11, a P/E/G ratio of 2.76 and a beta of 0.74. M&T Bank Co. has a 12-month low of $115.93 and a 12-month high of $200.94. The company’s fifty day simple moving average is $179.77 and its 200 day simple moving average is $163.26. The company has a quick ratio of 1.00, a current ratio of 0.94 and a debt-to-equity ratio of 0.44.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend was Tuesday, September 3rd. M&T Bank’s dividend payout ratio is presently 39.97%.

M&T Bank Company 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.