M&T Bank (NYSE:MTB) Director Rudina Seseri Sells 623 Shares of Stock

M&T Bank Corporation (NYSE:MTB) Director Rudina Seseri sold 623 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $241.04, for a total transaction of $150,167.92. Following the sale, the director owned 3,649 shares in the company, valued at approximately $879,554.96. The trade was a 14.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

M&T Bank Price Performance

Shares of NYSE:MTB opened at $240.60 on Wednesday. The company has a market capitalization of $34.75 billion, a P/E ratio of 12.70, a P/E/G ratio of 1.12 and a beta of 0.57. M&T Bank Corporation has a 1-year low of $174.76 and a 1-year high of $255.95. The firm’s 50 day simple moving average is $243.75 and its two-hundred day simple moving average is $225.70. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.96 and a quick ratio of 0.96.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.66 by $0.69. The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.46 billion. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. During the same period in the prior year, the company posted $4.28 earnings per share. Research analysts expect that M&T Bank Corporation will post 19.43 EPS for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Tuesday, September 1st. M&T Bank’s dividend payout ratio is presently 31.68%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of M&T Bank in the second quarter worth about $595,000. California State Teachers Retirement System boosted its stake in M&T Bank by 23,449.1% during the second quarter. California State Teachers Retirement System now owns 50,491,441 shares of the financial services provider’s stock valued at $12,017,468,000 after buying an additional 50,277,032 shares during the last quarter. Alan B Lancz & Associates Inc. bought a new position in M&T Bank during the second quarter valued at approximately $212,000. Ameritas Advisory Services LLC purchased a new position in M&T Bank during the 2nd quarter valued at approximately $86,000. Finally, Wedmont Private Capital increased its stake in M&T Bank by 1.0% in the 2nd quarter. Wedmont Private Capital now owns 4,405 shares of the financial services provider’s stock worth $1,067,000 after acquiring an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MTB. Barclays boosted their price objective on M&T Bank from $236.00 to $267.00 and gave the company an “equal weight” rating in a research report on Thursday, July 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of M&T Bank in a research report on Thursday, June 4th. Wall Street Zen raised M&T Bank from a “sell” rating to a “hold” rating in a research note on Monday, July 20th. Robert W. Baird upped their price target on M&T Bank from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of M&T Bank from a “buy” rating to a “hold” rating and set a $250.00 price objective for the company. in a report on Thursday, July 23rd. Seven analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, M&T Bank has a consensus rating of “Hold” and a consensus target price of $253.43.

M&T Bank Company Profile

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.