Insider Selling: M&T Bank Co. (NYSE:MTB) EVP Sells 3,362 Shares of Stock

M&T Bank Co. (NYSE:MTB) EVP Doris P. Meister sold 3,362 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $147.27, for a total transaction of $495,121.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

M&T Bank Trading Down 0.6 %

NYSE MTB traded down $0.93 on Tuesday, hitting $148.31. 837,703 shares of the stock were exchanged, compared to its average volume of 1,150,747. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.94. M&T Bank Co. has a 52-week low of $108.53 and a 52-week high of $150.26. The firm has a market capitalization of $24.71 billion, a P/E ratio of 10.09, a P/E/G ratio of 1.23 and a beta of 0.78. The stock has a fifty day moving average price of $142.08 and a two-hundred day moving average price of $134.91.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The firm had revenue of $2.26 billion for 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 quarter last year, the firm earned $4.09 EPS. Research analysts forecast that M&T Bank Co. will post 13.92 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were issued 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 (DPR) is presently 35.16%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. DA Davidson reissued a “neutral” rating and issued a $159.00 price objective on shares of M&T Bank in a research note on Tuesday, April 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $160.00 target price on shares of M&T Bank in a research note on Tuesday, April 16th. UBS Group boosted their price objective on shares of M&T Bank from $139.00 to $154.00 in a research note on Wednesday, January 17th. Keefe, Bruyette & Woods upped their price target on shares of M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a report on Tuesday, April 16th. Finally, Wedbush restated an “outperform” rating and set a $170.00 target price on shares of M&T Bank in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $158.48.

Institutional Investors Weigh In On M&T Bank

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. GSA Capital Partners LLP purchased a new stake in shares of M&T Bank during the third quarter worth approximately $833,000. Tokio Marine Asset Management Co. Ltd. raised its holdings in M&T Bank by 8.3% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,985 shares of the financial services provider’s stock valued at $504,000 after acquiring an additional 305 shares during the last quarter. NBC Securities Inc. purchased a new stake in shares of M&T Bank in the 3rd quarter valued at approximately $299,000. Stevens Capital Management LP purchased a new stake in shares of M&T Bank during the 4th quarter valued at approximately $320,000. Finally, Metis Global Partners LLC lifted its position in shares of M&T Bank by 15.2% during the third quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider’s stock worth $893,000 after purchasing an additional 931 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

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.