M&T Bank Co. (NYSE:MTB) EVP Sells $495,121.74 in Stock

M&T Bank Co. (NYSE:MTB) EVP Doris P. Meister sold 3,362 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $147.27, for a total value of $495,121.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

M&T Bank Price Performance

NYSE MTB traded down $0.93 during trading hours on Tuesday, hitting $148.31. The company had a trading volume of 837,703 shares, compared to its average volume of 1,150,747. The firm has a 50 day simple moving average of $142.08 and a 200 day simple moving average of $134.91. 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 price-to-earnings ratio of 10.09, a PEG ratio of 1.23 and a beta of 0.78. 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 (NYSE:MTB) last released its quarterly earnings data 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 net margin of 19.52% and a return on equity of 10.68%. The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter last year, the business posted $4.09 earnings per share. Equities research analysts expect that M&T Bank Co. will post 13.92 earnings per share for the current year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were given a $1.30 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.51%. M&T Bank’s dividend payout ratio (DPR) is currently 35.16%.

Analyst Ratings Changes

MTB has been the subject of a number of analyst reports. Evercore ISI increased their price target on M&T Bank from $146.00 to $157.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. Wedbush restated an “outperform” rating and set a $170.00 price target on shares of M&T Bank in a report on Wednesday, April 10th. DA Davidson reiterated a “neutral” rating and issued a $159.00 price objective on shares of M&T Bank in a research note on Tuesday, April 16th. Keefe, Bruyette & Woods upped their target price on M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. increased their price target on M&T Bank from $170.00 to $180.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $158.48.

Hedge Funds Weigh In On M&T Bank

A number of large investors have recently modified their holdings of the company. Burns J W & Co. Inc. NY raised its stake in M&T Bank by 1.3% in the fourth quarter. Burns J W & Co. Inc. NY now owns 6,034 shares of the financial services provider’s stock valued at $827,000 after purchasing an additional 80 shares in the last quarter. First Horizon Advisors Inc. raised its stake in M&T Bank by 3.2% in the fourth quarter. First Horizon Advisors Inc. now owns 2,548 shares of the financial services provider’s stock valued at $349,000 after purchasing an additional 80 shares in the last quarter. Fulton Bank N.A. raised its stake in M&T Bank by 2.3% in the first quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider’s stock valued at $526,000 after purchasing an additional 81 shares in the last quarter. Robinson Value Management Ltd. raised its stake in M&T Bank by 0.3% in the third quarter. Robinson Value Management Ltd. now owns 33,542 shares of the financial services provider’s stock valued at $4,241,000 after purchasing an additional 85 shares in the last quarter. Finally, Tritonpoint Wealth LLC raised its stake in M&T Bank by 2.3% in the first quarter. Tritonpoint Wealth LLC now owns 3,833 shares of the financial services provider’s stock valued at $510,000 after purchasing an additional 87 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

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.