Public Sector Pension Investment Board Has $5.18 Million Holdings in M&T Bank Co. (NYSE:MTB)

Public Sector Pension Investment Board raised its position in M&T Bank Co. (NYSE:MTB) by 2.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,095 shares of the financial services provider’s stock after purchasing an additional 800 shares during the quarter. Public Sector Pension Investment Board’s holdings in M&T Bank were worth $5,182,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in MTB. FMR LLC boosted its position in M&T Bank by 13.9% during the 3rd quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock worth $2,199,675,000 after buying an additional 1,508,846 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of M&T Bank by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock worth $897,216,000 after purchasing an additional 190,837 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of M&T Bank by 4.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock worth $269,696,000 after purchasing an additional 81,004 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in M&T Bank by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock valued at $244,129,000 after purchasing an additional 93,113 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in M&T Bank by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 1,513,452 shares of the financial services provider’s stock valued at $229,076,000 after purchasing an additional 44,442 shares during the period. 84.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on MTB. DA Davidson upped their price target on M&T Bank from $192.00 to $207.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Wells Fargo & Company increased their target price on shares of M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a research report on Friday, November 15th. Morgan Stanley boosted their price target on shares of M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Evercore ISI increased their price target on M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada upped their target price on M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $206.41.

Insider Activity at M&T Bank

In related news, EVP Tracy S. Woodrow sold 2,121 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total transaction of $468,210.75. Following the sale, the executive vice president now directly owns 5,141 shares in the company, valued at approximately $1,134,875.75. The trade was a 29.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Denis J. Salamone sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the transaction, the director now owns 44,902 shares of the company’s stock, valued at approximately $7,724,491.06. This represents a 18.21 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 92,504 shares of company stock worth $18,394,012. 0.82% of the stock is owned by corporate insiders.

M&T Bank Price Performance

M&T Bank stock opened at $219.99 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44. The business’s 50 day simple moving average is $196.45 and its 200 day simple moving average is $172.10. M&T Bank Co. has a 12 month low of $125.61 and a 12 month high of $225.70. The company has a market cap of $36.50 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 3.10 and a beta of 0.74.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results 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 return on equity of 9.52% and a net margin of 17.82%. The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.30 billion. Sell-side analysts forecast that M&T Bank Co. will post 14.57 EPS for the current year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Monday, December 2nd. M&T Bank’s dividend payout ratio (DPR) is currently 39.97%.

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.