Teacher Retirement System of Texas Makes New Investment in M&T Bank Co. (NYSE:MTB)

Teacher Retirement System of Texas acquired a new stake in M&T Bank Co. (NYSE:MTB) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,562 shares of the financial services provider’s stock, valued at approximately $294,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Y.D. More Investments Ltd raised its holdings in M&T Bank by 122.6% in the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 114 shares in the last quarter. Human Investing LLC purchased a new stake in shares of M&T Bank in the 4th quarter valued at approximately $44,000. Sierra Ocean LLC acquired a new stake in shares of M&T Bank in the 4th quarter valued at $44,000. Principal Securities Inc. lifted its position in shares of M&T Bank by 47.5% during the 4th quarter. Principal Securities Inc. now owns 410 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 132 shares during the last quarter. Finally, Kentucky Trust Co acquired a new position in shares of M&T Bank during the fourth quarter worth $92,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MTB. Barclays raised their price target on M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Citigroup decreased their target price on M&T Bank from $230.00 to $195.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Keefe, Bruyette & Woods increased their price target on shares of M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, DA Davidson upped their target price on shares of M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $218.79.

M&T Bank Price Performance

Shares of MTB opened at $176.31 on Wednesday. The company has a market capitalization of $28.97 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74. M&T Bank Co. has a fifty-two week low of $133.03 and a fifty-two week high of $225.70. The firm has a 50-day simple moving average of $188.64 and a 200-day simple moving average of $192.95. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same quarter in the previous year, the business posted $2.74 earnings per share. On average, equities research analysts anticipate that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were given a $1.35 dividend. The ex-dividend date was Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 3.06%. M&T Bank’s dividend payout ratio (DPR) is 36.91%.

M&T Bank declared that its Board of Directors has authorized a share buyback program on Wednesday, January 22nd that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at M&T Bank

In other news, EVP Christopher E. Kay sold 1,738 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the transaction, the executive vice president now directly owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. This represents a 13.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

M&T Bank Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.