Insider Selling: M&T Bank Co. (NYSE:MTB) Director Sells 13,360 Shares of Stock

M&T Bank Co. (NYSE:MTB) Director John P. Barnes sold 13,360 shares of M&T Bank stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $147.00, for a total transaction of $1,963,920.00. Following the transaction, the director now directly owns 35,480 shares in the company, valued at $5,215,560. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

M&T Bank Price Performance

Shares of NYSE:MTB traded down $0.93 during midday trading on Tuesday, hitting $148.31. The stock had a trading volume of 837,703 shares, compared to its average volume of 1,150,747. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $150.26. The company has a market capitalization of $24.71 billion, a P/E ratio of 10.09, a price-to-earnings-growth ratio of 1.23 and a beta of 0.78. The company’s 50-day moving average price is $142.08 and its 200-day moving average price is $134.91.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing the consensus estimate of $3.13 by ($0.11). The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same period in the previous year, the company earned $4.09 EPS. As a group, equities research analysts predict that M&T Bank Co. will post 13.92 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were given a $1.30 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 annualized dividend and a yield of 3.51%. M&T Bank’s dividend payout ratio is presently 35.16%.

Hedge Funds Weigh In On M&T Bank

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. HHM Wealth Advisors LLC bought a new stake in shares of M&T Bank in the fourth quarter worth $25,000. General Partner Inc. acquired a new position in M&T Bank during the 1st quarter worth about $27,000. Fidelis Capital Partners LLC bought a new position in M&T Bank during the 1st quarter worth approximately $30,000. BKM Wealth Management LLC bought a new stake in shares of M&T Bank in the 4th quarter valued at $32,000. Finally, Headinvest LLC acquired a new stake in shares of M&T Bank during the third quarter worth $29,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MTB shares. Royal Bank of Canada restated an “outperform” rating and issued a $160.00 price target on shares of M&T Bank in a report on Tuesday, April 16th. StockNews.com lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a research note on Friday. Piper Sandler dropped their price objective on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating on the stock in a report on Friday, January 19th. JPMorgan Chase & Co. upped their target price on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Finally, Evercore ISI increased their target price on M&T Bank from $146.00 to $157.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, M&T Bank presently has an average rating of “Hold” and an average price target of $158.48.

M&T Bank Company 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.