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 the company’s stock in a transaction dated 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 completion of the sale, the director now owns 35,480 shares in the company, valued at approximately $5,215,560. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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 released its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the prior year, the firm posted $4.09 earnings per share. 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 paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date was Friday, March 1st. M&T Bank’s dividend payout ratio is currently 35.16%.

Hedge Funds Weigh In On M&T Bank

Several hedge funds have recently bought and sold shares of the business. HHM Wealth Advisors LLC purchased a new stake in M&T Bank in the 4th quarter valued at about $25,000. General Partner Inc. purchased a new stake in shares of M&T Bank in the 1st quarter worth $27,000. Headinvest LLC bought a new position in shares of M&T Bank during the 3rd quarter worth $29,000. Fidelis Capital Partners LLC purchased a new position in shares of M&T Bank during the first quarter valued at $30,000. Finally, BKM Wealth Management LLC purchased a new stake in M&T Bank in the fourth quarter worth about $32,000. Institutional investors own 84.68% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on MTB. Royal Bank of Canada reiterated an “outperform” rating and set a $160.00 price objective on shares of M&T Bank in a research note on Tuesday, April 16th. Keefe, Bruyette & Woods upped their target price on shares of M&T Bank from $162.00 to $170.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 16th. Wedbush reissued an “outperform” rating and set a $170.00 price target on shares of M&T Bank in a research report on Wednesday, April 10th. Piper Sandler cut their target price on M&T Bank from $156.00 to $152.00 and set an “overweight” rating on the stock in a research note on Friday, January 19th. Finally, Morgan Stanley upped their price target on M&T Bank from $160.00 to $179.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price 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.