M&T Bank Co. (NYSE:MTB) Director Sells $2,394,653.79 in Stock

M&T Bank Co. (NYSE:MTB) Director Kirk W. Walters sold 16,179 shares of M&T Bank stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $148.01, for a total value of $2,394,653.79. Following the completion of the transaction, the director now owns 6,348 shares of the company’s stock, valued at approximately $939,567.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

M&T Bank Stock Performance

MTB stock traded down $0.93 during trading on Tuesday, reaching $148.31. 837,703 shares of the company’s stock were exchanged, compared to its average volume of 1,150,747. The company’s fifty day moving average price is $142.08 and its 200-day moving average price is $134.91. The firm has a market cap of $24.71 billion, a PE ratio of 10.09, a P/E/G ratio of 1.23 and a beta of 0.78. 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 1-year low of $108.53 and a 1-year high of $150.26.

M&T Bank (NYSE:MTB) last issued its earnings results 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 business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same quarter in the previous year, the business posted $4.09 earnings per share. On average, research analysts expect 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. Investors of record on Monday, March 4th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date was Friday, March 1st. M&T Bank’s dividend payout ratio (DPR) is presently 35.16%.

Institutional Trading of M&T Bank

Several large investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of M&T Bank during the 4th quarter valued at $232,322,000. Invesco Ltd. boosted its stake in M&T Bank by 15.5% in the 3rd quarter. Invesco Ltd. now owns 4,840,950 shares of the financial services provider’s stock worth $612,138,000 after purchasing an additional 650,796 shares during the period. Smead Capital Management Inc. acquired a new stake in shares of M&T Bank in the fourth quarter valued at about $59,418,000. LSV Asset Management raised its position in M&T Bank by 63.5% during the third quarter. LSV Asset Management now owns 1,108,552 shares of the financial services provider’s stock worth $140,176,000 after acquiring an additional 430,356 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in M&T Bank by 29.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,726,434 shares of the financial services provider’s stock valued at $218,308,000 after buying an additional 393,116 shares during the period. 84.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MTB shares. Evercore ISI lifted their price target on shares of M&T Bank from $146.00 to $157.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. Morgan Stanley lifted their price objective on shares of M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Piper Sandler dropped their target price on M&T Bank from $156.00 to $152.00 and set an “overweight” rating on the stock in a report on Friday, January 19th. DA Davidson restated a “neutral” rating and issued a $159.00 price target on shares of M&T Bank in a research note on Tuesday, April 16th. Finally, Wells Fargo & Company upped their price objective on M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus 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.