Louisiana State Employees Retirement System Cuts Stock Position in M&T Bank Co. (NYSE:MTB)

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Louisiana State Employees Retirement System trimmed its position in M&T Bank Co. (NYSE:MTB) by 5.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,900 shares of the financial services provider’s stock after selling 400 shares during the period. Louisiana State Employees Retirement System’s holdings in M&T Bank were worth $1,201,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Liberty Wealth Management LLC lifted its stake in M&T Bank by 972.7% in the first quarter. Liberty Wealth Management LLC now owns 236 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 214 shares during the last quarter. Webster Bank N. A. purchased a new position in shares of M&T Bank in the second quarter valued at about $43,000. Pearl River Capital LLC purchased a new position in shares of M&T Bank in the first quarter valued at about $42,000. CX Institutional purchased a new position in shares of M&T Bank in the first quarter valued at about $47,000. Finally, Legacy Advisors LLC purchased a new position in shares of M&T Bank during the first quarter valued at about $66,000. 81.41% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE MTB opened at $144.67 on Friday. The stock has a market cap of $20.03 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 2.09 and a beta of 1.05. The firm has a fifty day moving average price of $163.87 and a 200-day moving average price of $165.74. M&T Bank Co. has a 1 year low of $133.78 and a 1 year high of $180.77. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.06 and a quick ratio of 1.06.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, July 18th. The financial services provider reported $3.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.70 by ($0.36). The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.53 billion. M&T Bank had a net margin of 29.81% and a return on equity of 14.26%. During the same period in the previous year, the business posted $3.26 earnings per share. On average, research analysts expect that M&T Bank Co. will post 13.89 EPS for the current year.

Several brokerages recently issued reports on MTB. JPMorgan Chase & Co. boosted their price target on shares of M&T Bank from $173.00 to $174.00 and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. Zacks Investment Research lowered shares of M&T Bank from a “buy” rating to a “hold” rating and set a $179.00 price objective on the stock. in a research note on Monday, July 1st. UBS Group dropped their price objective on shares of M&T Bank from $176.00 to $172.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. ValuEngine raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Macquarie set a $158.00 price objective on shares of M&T Bank and gave the stock a “sell” rating in a research note on Friday, July 19th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. M&T Bank has an average rating of “Hold” and an average price target of $176.77.

In related news, CFO Darren J. King sold 1,841 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $162.95, for a total value of $299,990.95. Following the transaction, the chief financial officer now owns 46,263 shares of the company’s stock, valued at approximately $7,538,555.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP William J. Farrell II sold 3,070 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $163.82, for a total transaction of $502,927.40. Following the completion of the transaction, the executive vice president now directly owns 10,774 shares in the company, valued at approximately $1,764,996.68. The disclosure for this sale can be found here. Insiders have sold 6,479 shares of company stock valued at $1,043,915 over the last ninety days. 0.54% of the stock is currently owned by corporate insiders.

M&T Bank Company Profile

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.

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

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