M&T Bank Co. (NYSE:MTB) Director John P. Barnes Sells 20,000 Shares

M&T Bank Co. (NYSE:MTB) Director John P. Barnes sold 20,000 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $193.97, for a total transaction of $3,879,400.00. Following the completion of the transaction, the director now owns 49,960 shares in the company, valued at approximately $9,690,741.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

M&T Bank Stock Up 0.3 %

MTB stock opened at $194.50 on Friday. The stock has a market capitalization of $32.45 billion, a P/E ratio of 13.15, a price-to-earnings-growth ratio of 3.27 and a beta of 0.75. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average price of $174.96 and a 200-day moving average price of $159.94. M&T Bank Co. has a 12 month low of $108.53 and a 12 month high of $200.94.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a $1.35 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 2.78%. M&T Bank’s dividend payout ratio is currently 36.51%.

Analyst Ratings Changes

MTB has been the topic of several research reports. Citigroup upped their target price on M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Wedbush lifted their target price on M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Wells Fargo & Company upped their price target on shares of M&T Bank from $165.00 to $190.00 and gave the company an “underweight” rating in a research note on Friday, October 18th. The Goldman Sachs Group lifted their price objective on shares of M&T Bank from $190.00 to $216.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Morgan Stanley increased their target price on shares of M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, M&T Bank presently has a consensus rating of “Hold” and an average target price of $197.47.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its holdings in M&T Bank by 4.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock worth $269,696,000 after purchasing an additional 81,004 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in M&T Bank by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock valued at $244,129,000 after buying an additional 93,113 shares during the last quarter. Bank of New York Mellon Corp boosted its position in M&T Bank by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,513,452 shares of the financial services provider’s stock worth $229,076,000 after buying an additional 44,442 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its position in M&T Bank by 3.2% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,398,199 shares of the financial services provider’s stock valued at $211,631,000 after acquiring an additional 43,795 shares during the period. Finally, Los Angeles Capital Management LLC raised its stake in shares of M&T Bank by 77.0% during the second quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock valued at $110,993,000 after acquiring an additional 319,051 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

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.