Insider Selling: M&T Bank Co. (NYSE:MTB) EVP Sells $468,210.75 in Stock

M&T Bank Co. (NYSE:MTB) EVP Tracy S. Woodrow sold 2,121 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total transaction of $468,210.75. Following the sale, the executive vice president now owns 5,141 shares of the company’s stock, valued at $1,134,875.75. This represents a 29.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

M&T Bank Stock Performance

Shares of MTB stock opened at $219.99 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44. The firm has a fifty day moving average price of $196.45 and a 200 day moving average price of $172.10. The company has a market cap of $36.50 billion, a P/E ratio of 16.28, a PEG ratio of 3.10 and a beta of 0.74. M&T Bank Co. has a 12 month low of $125.61 and a 12 month high of $225.70.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.30 billion. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. Sell-side analysts predict that M&T Bank Co. will post 14.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be paid a $1.35 dividend. The ex-dividend date is Monday, December 2nd. This represents a $5.40 annualized dividend and a yield of 2.45%. M&T Bank’s dividend payout ratio is presently 39.97%.

Hedge Funds Weigh In On M&T Bank

Several large investors have recently bought and sold shares of the stock. Hedeker Wealth LLC boosted its stake in M&T Bank by 1.6% in the third quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider’s stock valued at $627,000 after acquiring an additional 55 shares in the last quarter. Frank Rimerman Advisors LLC boosted its stake in M&T Bank by 1.0% in the third quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider’s stock valued at $1,005,000 after acquiring an additional 57 shares in the last quarter. Crestwood Advisors Group LLC boosted its stake in M&T Bank by 1.9% in the third quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock valued at $553,000 after acquiring an additional 57 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in M&T Bank by 54.4% in the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 68 shares in the last quarter. Finally, Meitav Investment House Ltd. boosted its stake in M&T Bank by 3.1% in the third quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider’s stock valued at $386,000 after acquiring an additional 69 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

MTB has been the subject of several research reports. Barclays lifted their target price on shares of M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Citigroup downgraded shares of M&T Bank from a “buy” rating to a “neutral” rating and lifted their target price for the company from $220.00 to $230.00 in a report on Monday, November 25th. The Goldman Sachs Group lifted their target price on shares of M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Wedbush lifted their target price on shares of M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. Finally, Wolfe Research upgraded shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 target price for the company in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $206.41.

About M&T Bank

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.