M&T Bank Co. (NYSE:MTB) Director Sells $334,249.80 in Stock

M&T Bank Co. (NYSE:MTB) Director Kirk W. Walters sold 1,590 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $210.22, for a total transaction of $334,249.80. Following the sale, the director now directly owns 2,108 shares in the company, valued at $443,143.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

M&T Bank Price Performance

MTB stock opened at $209.41 on Friday. M&T Bank Co. has a 1 year low of $115.93 and a 1 year high of $216.84. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 1.00. The firm has a market capitalization of $34.75 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 3.07 and a beta of 0.74. The business has a 50 day simple moving average of $182.71 and a 200-day simple moving average of $164.73.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. Equities research analysts anticipate that M&T Bank Co. will post 14.49 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a yield of 2.58%. M&T Bank’s dividend payout ratio (DPR) is 39.97%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. The Goldman Sachs Group increased their price target on M&T Bank from $190.00 to $216.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Barclays boosted their price objective on M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Royal Bank of Canada increased their target price on M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Finally, Morgan Stanley lifted their price target on shares of M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $198.76.

Hedge Funds Weigh In On M&T Bank

Large investors have recently modified their holdings of the business. John G Ullman & Associates Inc. acquired a new position in M&T Bank in the third quarter valued at about $553,000. Citizens Financial Group Inc. RI raised its stake in shares of M&T Bank by 28.5% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,894 shares of the financial services provider’s stock valued at $337,000 after acquiring an additional 420 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of M&T Bank in the 3rd quarter worth approximately $1,564,000. SouthState Corp boosted its position in shares of M&T Bank by 25.8% during the 3rd quarter. SouthState Corp now owns 6,139 shares of the financial services provider’s stock worth $1,093,000 after purchasing an additional 1,258 shares during the period. Finally, Smead Capital Management Inc. increased its holdings in M&T Bank by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 493,817 shares of the financial services provider’s stock valued at $87,959,000 after purchasing an additional 16,657 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

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.