California State Teachers Retirement System Has $44.32 Million Stake in M&T Bank Corporation $MTB

California State Teachers Retirement System lowered its stake in M&T Bank Corporation (NYSE:MTB) by 1.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 214,409 shares of the financial services provider’s stock after selling 4,135 shares during the quarter. California State Teachers Retirement System’s holdings in M&T Bank were worth $44,323,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Bogart Wealth LLC increased its position in M&T Bank by 233.3% during the 1st quarter. Bogart Wealth LLC now owns 120 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 84 shares in the last quarter. Triumph Capital Management acquired a new stake in M&T Bank in the third quarter valued at approximately $32,000. Elyxium Wealth LLC bought a new stake in shares of M&T Bank during the fourth quarter worth $33,000. Bank of Jackson Hole Trust grew its stake in shares of M&T Bank by 38.7% during the fourth quarter. Bank of Jackson Hole Trust now owns 215 shares of the financial services provider’s stock worth $43,000 after buying an additional 60 shares during the last quarter. Finally, Rossby Financial LCC increased its holdings in shares of M&T Bank by 146.0% during the fourth quarter. Rossby Financial LCC now owns 278 shares of the financial services provider’s stock worth $56,000 after buying an additional 165 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other M&T Bank news, EVP Christopher E. Kay sold 3,105 shares of M&T Bank stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $216.50, for a total transaction of $672,232.50. Following the transaction, the executive vice president directly owned 6,753 shares of the company’s stock, valued at approximately $1,462,024.50. The trade was a 31.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.44% of the company’s stock.

M&T Bank Price Performance

Shares of NYSE:MTB opened at $247.14 on Friday. The firm has a market cap of $36.19 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 1.16 and a beta of 0.57. The firm’s fifty day moving average is $233.48 and its 200-day moving average is $221.71. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.94 and a current ratio of 0.89. M&T Bank Corporation has a 52 week low of $174.76 and a 52 week high of $255.00.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share for the quarter, topping the consensus estimate of $4.66 by $0.69. The company had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.46 billion. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. During the same quarter in the previous year, the firm posted $4.28 earnings per share. Sell-side analysts predict that M&T Bank Corporation will post 19.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MTB. Argus increased their price target on M&T Bank from $230.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Barclays boosted their price objective on M&T Bank from $236.00 to $267.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. DA Davidson upped their target price on M&T Bank from $263.00 to $266.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. JPMorgan Chase & Co. increased their target price on M&T Bank from $251.50 to $265.50 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Evercore set a $260.00 price target on M&T Bank in a research note on Monday, July 6th. Seven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, M&T Bank has an average rating of “Hold” and an average target price of $253.53.

M&T Bank Company Profile

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.