Insider Selling: M&T Bank Co. (NYSE:MTB) Director Sells 16,179 Shares of Stock

M&T Bank Co. (NYSE:MTB) Director Kirk W. Walters sold 16,179 shares of M&T Bank stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $148.01, for a total transaction of $2,394,653.79. Following the completion of the sale, the director now owns 6,348 shares of the company’s stock, valued at $939,567.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

M&T Bank Stock Down 0.6 %

NYSE MTB traded down $0.93 during mid-day trading on Tuesday, hitting $148.31. The company’s stock had a trading volume of 837,703 shares, compared to its average volume of 1,150,747. The firm has a market capitalization of $24.71 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 1.23 and a beta of 0.78. The company’s 50 day simple moving average is $142.08 and its 200 day simple moving average is $134.91. The company has a current ratio of 0.94, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. M&T Bank Co. has a twelve month low of $108.53 and a twelve month high of $150.26.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the business earned $4.09 earnings per share. Analysts anticipate that M&T Bank Co. will post 13.92 earnings per share for the current 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 dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a yield of 3.51%. M&T Bank’s dividend payout ratio (DPR) is currently 35.16%.

Analysts Set New Price Targets

MTB has been the topic of several analyst reports. Morgan Stanley increased their target price on M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. StockNews.com lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a report on Friday. Bank of America upped their price objective on shares of M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. UBS Group increased their price objective on shares of M&T Bank from $139.00 to $154.00 in a research report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. boosted their target price on shares of M&T Bank from $170.00 to $180.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $158.48.

Institutional Investors Weigh In On M&T Bank

Institutional investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. increased its holdings in shares of M&T Bank by 7.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 37,521 shares of the financial services provider’s stock worth $4,744,000 after purchasing an additional 2,726 shares during the period. Brown Advisory Inc. increased its position in shares of M&T Bank by 5.9% in the third quarter. Brown Advisory Inc. now owns 36,735 shares of the financial services provider’s stock worth $4,645,000 after purchasing an additional 2,059 shares during the last quarter. Forsta AP Fonden lifted its position in M&T Bank by 4.7% in the 3rd quarter. Forsta AP Fonden now owns 29,200 shares of the financial services provider’s stock worth $3,692,000 after buying an additional 1,300 shares during the last quarter. Strs Ohio bought a new position in M&T Bank during the third quarter valued at approximately $27,439,000. Finally, IFM Investors Pty Ltd grew its holdings in shares of M&T Bank by 3.5% during the 3rd quarter. IFM Investors Pty Ltd now owns 33,152 shares of the financial services provider’s stock valued at $4,192,000 after purchasing an additional 1,128 shares during the last quarter. Hedge funds and other institutional investors 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.