Insider Selling: M&T Bank Co. (NYSE:MTB) Director Sells 10,000 Shares of Stock

M&T Bank Co. (NYSE:MTB) Director John P. Barnes sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $147.11, for a total transaction of $1,471,100.00. Following the sale, the director now directly owns 34,545 shares in the company, valued at approximately $5,081,914.95. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

M&T Bank Price Performance

NYSE:MTB traded down $0.84 during trading hours on Monday, hitting $145.54. 735,563 shares of the stock were exchanged, compared to its average volume of 1,183,259. The firm’s fifty day moving average price is $141.00 and its 200 day moving average price is $133.88. M&T Bank Co. has a 52-week low of $108.53 and a 52-week high of $148.93. The company has a market cap of $24.25 billion, a P/E ratio of 9.90, a P/E/G ratio of 1.22 and a beta of 0.80. 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 (NYSE:MTB) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing the consensus estimate of $3.13 by ($0.11). The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same period in the prior year, the company posted $4.09 earnings per share. As a group, equities research analysts anticipate that M&T Bank Co. will post 13.92 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were issued 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 yield of 3.57%. M&T Bank’s payout ratio is 35.16%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. HHM Wealth Advisors LLC purchased a new stake in shares of M&T Bank in the fourth quarter valued at about $25,000. General Partner Inc. purchased a new stake in shares of M&T Bank during the 1st quarter valued at approximately $27,000. BKM Wealth Management LLC acquired a new position in M&T Bank in the fourth quarter valued at approximately $32,000. Headinvest LLC purchased a new position in M&T Bank in the third quarter worth approximately $29,000. Finally, CVA Family Office LLC acquired a new stake in M&T Bank during the fourth quarter worth $33,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wedbush reaffirmed an “outperform” rating and set a $170.00 target price on shares of M&T Bank in a report on Wednesday, April 10th. Piper Sandler decreased their target price on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a research report on Friday, January 19th. Keefe, Bruyette & Woods increased their price target on M&T Bank from $162.00 to $170.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 16th. Jefferies Financial Group lowered their target price on M&T Bank from $154.00 to $151.00 and set a “hold” rating on the stock in a research note on Monday, April 8th. Finally, Wells Fargo & Company raised their target price on M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 16th. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average 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.