Kirk Walters Sells 909 Shares of M&T Bank (NYSE:MTB) Stock

M&T Bank Corporation (NYSE:MTB) Director Kirk Walters sold 909 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $227.37, for a total transaction of $206,679.33. Following the transaction, the director directly owned 5,976 shares in the company, valued at $1,358,763.12. The trade was a 13.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

M&T Bank Price Performance

Shares of NYSE:MTB opened at $238.19 on Friday. M&T Bank Corporation has a one year low of $150.75 and a one year high of $238.54. The stock has a market capitalization of $36.61 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 1.03 and a beta of 0.60. The company has a 50-day simple moving average of $209.68 and a 200-day simple moving average of $197.48. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 0.90.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.47 by $0.25. The firm had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.47 billion. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.During the same quarter in the previous year, the firm posted $3.77 EPS. On average, analysts predict that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st were issued a $1.50 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.5%. M&T Bank’s payout ratio is presently 35.19%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MTB shares. The Goldman Sachs Group boosted their price objective on shares of M&T Bank from $230.00 to $231.00 and gave the company a “neutral” rating in a research note on Tuesday, January 20th. Truist Financial set a $230.00 price target on shares of M&T Bank in a research note on Tuesday, January 20th. Evercore cut shares of M&T Bank from an “outperform” rating to a “hold” rating and increased their price target for the stock from $210.00 to $225.00 in a report on Tuesday, January 6th. Wolfe Research lowered M&T Bank from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 7th. Finally, Keefe, Bruyette & Woods boosted their target price on M&T Bank from $220.00 to $230.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, M&T Bank has a consensus rating of “Hold” and a consensus target price of $224.29.

Institutional Investors Weigh In On M&T Bank

Institutional investors and hedge funds have recently modified their holdings of the company. Canoe Financial LP raised its holdings in M&T Bank by 50.5% during the fourth quarter. Canoe Financial LP now owns 652,744 shares of the financial services provider’s stock worth $131,515,000 after purchasing an additional 219,065 shares during the last quarter. Marshall Wace LLP boosted its position in shares of M&T Bank by 6.2% in the 2nd quarter. Marshall Wace LLP now owns 584,438 shares of the financial services provider’s stock worth $113,375,000 after buying an additional 33,920 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in M&T Bank by 3.1% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 463,669 shares of the financial services provider’s stock valued at $89,947,000 after acquiring an additional 13,749 shares during the last quarter. LSV Asset Management grew its stake in M&T Bank by 14.5% in the 4th quarter. LSV Asset Management now owns 391,900 shares of the financial services provider’s stock valued at $78,960,000 after acquiring an additional 49,500 shares during the last quarter. Finally, RNC Capital Management LLC increased its holdings in M&T Bank by 1.0% during the 4th quarter. RNC Capital Management LLC now owns 365,052 shares of the financial services provider’s stock valued at $73,551,000 after acquiring an additional 3,618 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

About M&T Bank

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.