M&T Bank Co. (NYSE:MTB) EVP Sells $226,387.98 in Stock

M&T Bank Co. (NYSE:MTB) EVP Doris P. Meister sold 1,638 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total transaction of $226,387.98. Following the transaction, the executive vice president now directly owns 3,362 shares in the company, valued at $464,662.02. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

M&T Bank Price Performance

MTB traded up $4.08 during midday trading on Friday, reaching $143.38. 1,525,218 shares of the company’s stock were exchanged, compared to its average volume of 1,215,371. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99. The stock has a market capitalization of $23.89 billion, a PE ratio of 9.42, a P/E/G ratio of 1.16 and a beta of 0.80. The business’s 50-day moving average price is $139.76 and its 200 day moving average price is $132.81. M&T Bank Co. has a 1-year low of $108.53 and a 1-year high of $148.23.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results 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). The firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same quarter last year, the firm earned $4.09 earnings per share. As a group, equities analysts anticipate that M&T Bank Co. will post 13.95 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were issued a dividend of $1.30 per share. The ex-dividend date was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.63%. M&T Bank’s dividend payout ratio (DPR) is presently 35.16%.

Institutional Investors Weigh In On M&T Bank

Hedge funds and other institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP purchased a new stake in M&T Bank in the third quarter valued at approximately $833,000. Tokio Marine Asset Management Co. Ltd. grew its holdings in M&T Bank by 8.3% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,985 shares of the financial services provider’s stock valued at $504,000 after purchasing an additional 305 shares during the period. NBC Securities Inc. purchased a new stake in M&T Bank in the third quarter valued at approximately $299,000. Metis Global Partners LLC grew its holdings in M&T Bank by 15.2% in the third quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider’s stock valued at $893,000 after purchasing an additional 931 shares during the period. Finally, Matrix Asset Advisors Inc. NY grew its holdings in M&T Bank by 15.7% in the fourth quarter. Matrix Asset Advisors Inc. NY now owns 92,537 shares of the financial services provider’s stock valued at $12,685,000 after purchasing an additional 12,590 shares during the period. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on MTB shares. JPMorgan Chase & Co. raised their target price on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “neutral” rating in a research note on Tuesday. DA Davidson restated a “neutral” rating and issued a $159.00 target price on shares of M&T Bank in a research note on Tuesday. Bank of America raised their target price on shares of M&T Bank from $157.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday. Royal Bank of Canada restated an “outperform” rating and issued a $160.00 target price on shares of M&T Bank in a research note on Tuesday. Finally, Morgan Stanley raised their target price on shares of M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned 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.

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.