Public Employees Retirement Association of Colorado Sells 195 Shares of M&T Bank Co. (NYSE:MTB)

Public Employees Retirement Association of Colorado lessened its holdings in M&T Bank Co. (NYSE:MTB) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,926 shares of the financial services provider’s stock after selling 195 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in M&T Bank were worth $2,562,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Meeder Advisory Services Inc. raised its position in M&T Bank by 3.9% in the 1st quarter. Meeder Advisory Services Inc. now owns 1,879 shares of the financial services provider’s stock valued at $273,000 after buying an additional 70 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of M&T Bank by 1.5% in the second quarter. Massmutual Trust Co. FSB ADV now owns 4,711 shares of the financial services provider’s stock valued at $713,000 after purchasing an additional 70 shares during the last quarter. Umpqua Bank lifted its position in shares of M&T Bank by 5.3% during the second quarter. Umpqua Bank now owns 1,460 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 73 shares in the last quarter. Fulton Bank N.A. lifted its position in shares of M&T Bank by 2.3% during the first quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider’s stock valued at $526,000 after purchasing an additional 81 shares in the last quarter. Finally, Tritonpoint Wealth LLC boosted its holdings in M&T Bank by 2.3% during the first quarter. Tritonpoint Wealth LLC now owns 3,833 shares of the financial services provider’s stock worth $510,000 after purchasing an additional 87 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the completion of the transaction, the director now directly owns 44,902 shares in the company, valued at approximately $7,724,491.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Vice Chairman Gary N. Geisel sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total value of $86,250.00. Following the sale, the insider now directly owns 16,429 shares of the company’s stock, valued at $2,834,002.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the completion of the transaction, the director now directly owns 44,902 shares of the company’s stock, valued at approximately $7,724,491.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,699 shares of company stock valued at $5,115,349. Company insiders own 0.82% of the company’s stock.

M&T Bank Trading Down 1.1 %

NYSE:MTB opened at $177.62 on Tuesday. M&T Bank Co. has a 1 year low of $108.53 and a 1 year high of $180.63. The stock’s fifty day moving average price is $167.85 and its two-hundred day moving average price is $153.83. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $29.64 billion, a P/E ratio of 12.01, a P/E/G ratio of 3.32 and a beta of 0.76.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. The business had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the prior year, the firm posted $5.12 EPS. As a group, analysts expect that M&T Bank Co. will post 14.24 EPS for the current year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be paid a dividend of $1.35 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $5.40 annualized dividend and a yield of 3.04%. M&T Bank’s dividend payout ratio is currently 36.51%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MTB shares. Morgan Stanley lifted their target price 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. Citigroup boosted their price objective on M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Royal Bank of Canada raised their target price on M&T Bank from $160.00 to $174.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Keefe, Bruyette & Woods lifted their target price on M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. Finally, 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 report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $175.85.

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.