Kentucky Retirement Systems Insurance Trust Fund Has $881,000 Stock Holdings in M&T Bank Co. (NYSE:MTB)

Kentucky Retirement Systems Insurance Trust Fund trimmed its holdings in M&T Bank Co. (NYSE:MTB) by 8.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,944 shares of the financial services provider’s stock after selling 438 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in M&T Bank were worth $881,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MTB. Hedeker Wealth LLC boosted its holdings in M&T Bank by 1.6% in the third quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider’s stock worth $627,000 after purchasing an additional 55 shares in the last quarter. Frank Rimerman Advisors LLC lifted its position in shares of M&T Bank by 1.0% in the third quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider’s stock worth $1,005,000 after buying an additional 57 shares during the last quarter. Crestwood Advisors Group LLC boosted its stake in shares of M&T Bank by 1.9% during the 3rd quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock worth $553,000 after acquiring an additional 57 shares in the last quarter. Hexagon Capital Partners LLC increased its holdings in shares of M&T Bank by 54.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 68 shares during the last quarter. Finally, Meitav Investment House Ltd. raised its stake in shares of M&T Bank by 3.1% in the 3rd quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider’s stock valued at $386,000 after acquiring an additional 69 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Transactions at M&T Bank

In other news, EVP Michael J. Todaro sold 4,786 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $214.10, for a total value of $1,024,682.60. Following the transaction, the executive vice president now directly owns 2,787 shares of the company’s stock, valued at $596,696.70. The trade was a 63.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John R. Taylor sold 1,436 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $195.03, for a total value of $280,063.08. Following the sale, the executive vice president now directly owns 5,618 shares of the company’s stock, valued at $1,095,678.54. This represents a 20.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 70,383 shares of company stock valued at $13,576,801. 0.82% of the stock is owned by insiders.

M&T Bank Stock Performance

NYSE:MTB opened at $214.74 on Monday. The firm has a market capitalization of $35.63 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 3.02 and a beta of 0.74. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a 12-month low of $123.37 and a 12-month high of $216.84. The firm has a 50-day moving average price of $187.11 and a 200 day moving average price of $167.36.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. Research analysts anticipate that M&T Bank Co. will post 14.56 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a dividend yield of 2.51%. M&T Bank’s dividend payout ratio is presently 39.97%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. DA Davidson upped their target price on M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Wells Fargo & Company raised 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 note on Friday. Bank of America boosted their target price on shares of M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Royal Bank of Canada lifted their price objective on M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Finally, StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $199.65.

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.