New York State Common Retirement Fund Purchases 6,000 Shares of M&T Bank Corporation (MTB)

New York State Common Retirement Fund boosted its position in shares of M&T Bank Corporation (NYSE:MTB) by 1.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 319,900 shares of the financial services provider’s stock after purchasing an additional 6,000 shares during the quarter. New York State Common Retirement Fund owned about 0.21% of M&T Bank worth $51,517,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in MTB. NGAM Advisors L.P. grew its position in shares of M&T Bank by 0.4% during the 2nd quarter. NGAM Advisors L.P. now owns 15,523 shares of the financial services provider’s stock worth $2,514,000 after buying an additional 57 shares during the period. Advisor Partners LLC grew its position in shares of M&T Bank by 17.5% during the 2nd quarter. Advisor Partners LLC now owns 2,834 shares of the financial services provider’s stock worth $459,000 after buying an additional 422 shares during the period. UMB Bank N A MO acquired a new position in shares of M&T Bank during the 2nd quarter worth about $260,000. Dupont Capital Management Corp acquired a new position in shares of M&T Bank during the 2nd quarter worth about $140,000. Finally, LMR Partners LLP acquired a new position in shares of M&T Bank during the 2nd quarter worth about $3,502,000. 79.29% of the stock is owned by hedge funds and other institutional investors.

In other M&T Bank news, VP Michele D. Trolli sold 9,730 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $167.89, for a total value of $1,633,569.70. Following the sale, the vice president now owns 24,708 shares in the company, valued at approximately $4,148,226.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Randolph Michael Kasum sold 800,000 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $0.08, for a total value of $64,000.00. In the last 90 days, insiders acquired 671,000 shares of company stock worth $55,870 and sold 1,690,680 shares worth $1,903,281. Insiders own 3.18% of the company’s stock.

MTB has been the subject of several analyst reports. Sanford C. Bernstein restated a “market perform” rating and set a $165.00 target price (down from $171.00) on shares of M&T Bank in a research report on Saturday, September 16th. Zacks Investment Research lowered M&T Bank from a “buy” rating to a “hold” rating in a research report on Monday, October 9th. Robert W. Baird reiterated a “sell” rating and issued a $130.00 price objective on shares of M&T Bank in a research report on Friday, October 6th. BidaskClub lowered M&T Bank from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. Finally, Nomura boosted their price objective on M&T Bank from $144.00 to $145.00 and gave the company a “neutral” rating in a research report on Thursday, September 28th. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company’s stock. M&T Bank presently has a consensus rating of “Hold” and a consensus target price of $162.56.

Shares of M&T Bank Corporation (NYSE:MTB) traded down $1.82 on Wednesday, hitting $170.43. The company had a trading volume of 598,300 shares, compared to its average volume of 748,776. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.05 and a quick ratio of 1.05. M&T Bank Corporation has a 1-year low of $141.12 and a 1-year high of $176.62. The firm has a market cap of $25,926.28, a price-to-earnings ratio of 19.62, a PEG ratio of 2.10 and a beta of 0.84.

M&T Bank (NYSE:MTB) last released its earnings results on Wednesday, October 18th. The financial services provider reported $2.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.40 by ($0.19). The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.43 billion. M&T Bank had a net margin of 23.97% and a return on equity of 9.52%. During the same quarter in the previous year, the firm posted $2.10 EPS. research analysts anticipate that M&T Bank Corporation will post 9.1 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.76%. The ex-dividend date is Thursday, November 30th. M&T Bank’s payout ratio is 34.64%.

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M&T Bank Company Profile

M&T Bank Corporation (M&T) is a bank holding company. As of December 31, 2016, M&T had two bank subsidiaries: Manufacturers and Traders Trust Company (M&T Bank) and Wilmington Trust, National Association (Wilmington Trust, N.A.). The Company, along with its subsidiaries, offers a range of retail and commercial banking, trust and wealth management, and investment services.

Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

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