Kentucky Retirement Systems Has $2.16 Million Holdings in M&T Bank Co. (NYSE:MTB)

Kentucky Retirement Systems trimmed its stake in M&T Bank Co. (NYSE:MTB) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,476 shares of the financial services provider’s stock after selling 158 shares during the quarter. Kentucky Retirement Systems’ holdings in M&T Bank were worth $2,158,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of MTB. Plato Investment Management Ltd grew its holdings in M&T Bank by 2,300.0% in the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 161 shares during the period. Ashton Thomas Securities LLC acquired a new stake in M&T Bank in the third quarter worth $32,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in M&T Bank by 329.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 158 shares during the period. Y.D. More Investments Ltd grew 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 worth $39,000 after purchasing an additional 114 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in M&T Bank in the third quarter worth $44,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Stock Performance

Shares of MTB stock opened at $193.48 on Friday. The firm has a market cap of $31.80 billion, a price-to-earnings ratio of 13.23, a P/E/G ratio of 1.38 and a beta of 0.79. 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 Co. has a 52 week low of $133.03 and a 52 week high of $225.70. The firm’s 50-day simple moving average is $195.09 and its two-hundred day simple moving average is $190.08.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, topping the consensus estimate of $3.70 by $0.22. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same period last year, the business earned $2.74 EPS. As a group, equities analysts forecast that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Monday, March 3rd. M&T Bank’s dividend payout ratio is 36.91%.

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

Analysts Set New Price Targets

MTB has been the subject of a number of research reports. Compass Point raised their price target on shares of M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. DA Davidson raised their price target on shares of M&T Bank from $222.00 to $223.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Evercore ISI lifted their price objective on shares of M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $223.50 price objective (up from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. Finally, Citigroup cut shares of M&T Bank from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $220.00 to $230.00 in a report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $221.68.

Insiders Place Their Bets

In related news, EVP Tracy S. Woodrow sold 2,121 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were 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. This represents a 29.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total transaction of $537,566.10. Following the sale, the insider now owns 16,429 shares in the company, valued at $3,546,856.81. The trade was a 13.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.