Insider Selling: M&T Bank Co. (NYSE:MTB) Director Sells $3,879,400.00 in Stock

M&T Bank Co. (NYSE:MTB) Director John P. Barnes sold 20,000 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $193.97, for a total transaction of $3,879,400.00. Following the sale, the director now directly owns 49,960 shares in the company, valued at $9,690,741.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

M&T Bank Stock Down 1.0 %

MTB opened at $192.57 on Friday. The company has a 50 day moving average of $176.21 and a 200 day moving average of $160.54. The company has a market cap of $32.13 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 2.75 and a beta of 0.75. M&T Bank Co. has a 12 month low of $108.53 and a 12 month high of $200.94. The company has a current ratio of 0.94, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.80%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s dividend payout ratio (DPR) is presently 39.97%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Hexagon Capital Partners LLC boosted its holdings in M&T Bank by 54.4% in the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after buying an additional 68 shares during the period. Fidelis Capital Partners LLC bought a new position in M&T Bank in the 1st quarter worth approximately $30,000. Oakworth Capital Inc. bought a new position in M&T Bank in the 2nd quarter worth approximately $35,000. nVerses Capital LLC bought a new position in M&T Bank in the 3rd quarter worth approximately $53,000. Finally, Annapolis Financial Services LLC lifted its stake in M&T Bank by 150.7% in the 3rd quarter. Annapolis Financial Services LLC now owns 376 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 226 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MTB shares. Keefe, Bruyette & Woods upped their price objective on shares of M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Wolfe Research upgraded shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective on the stock in a report on Friday, October 4th. Morgan Stanley upped their price objective on shares of M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a report on Monday, August 5th. JPMorgan Chase & Co. upgraded shares of M&T Bank from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $183.00 to $215.00 in a report on Tuesday, September 3rd. Finally, Piper Sandler upped their target price on shares of M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $197.47.

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.