M&T Bank Co. (NYSE:MTB) Director John P. Barnes Sells 20,000 Shares

M&T Bank Co. (NYSE:MTB) Director John P. Barnes sold 20,000 shares of M&T Bank stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $217.45, for a total value of $4,349,000.00. Following the completion of the transaction, the director now directly owns 35,480 shares of the company’s stock, valued at approximately $7,715,126. This represents a 36.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

M&T Bank Price Performance

Shares of NYSE:MTB opened at $221.96 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $36.83 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 3.11 and a beta of 0.74. The firm’s 50 day moving average price is $192.95 and its 200-day moving average price is $170.23. M&T Bank Co. has a twelve month low of $123.46 and a twelve month high of $225.70.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.60 by $0.48. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. The business had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.30 billion. Equities research analysts expect that M&T Bank Co. will post 14.56 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $5.40 annualized dividend and a yield of 2.43%. M&T Bank’s dividend payout ratio (DPR) is presently 39.97%.

Institutional Trading of M&T Bank

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Lazard Asset Management LLC grew its stake in shares of M&T Bank by 6.1% during the 1st quarter. Lazard Asset Management LLC now owns 26,346 shares of the financial services provider’s stock valued at $3,831,000 after acquiring an additional 1,504 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of M&T Bank by 5.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 331,868 shares of the financial services provider’s stock worth $48,267,000 after purchasing an additional 18,566 shares during the period. Invenomic Capital Management LP bought a new stake in shares of M&T Bank during the 1st quarter valued at $9,479,000. B. Riley Wealth Advisors Inc. lifted its stake in shares of M&T Bank by 18.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 5,785 shares of the financial services provider’s stock valued at $841,000 after buying an additional 915 shares in the last quarter. Finally, California State Teachers Retirement System boosted its holdings in M&T Bank by 1.6% in the 1st quarter. California State Teachers Retirement System now owns 276,222 shares of the financial services provider’s stock worth $40,174,000 after buying an additional 4,343 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MTB. Morgan Stanley raised their price objective on shares of M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Wedbush boosted their price objective on shares of M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Wells Fargo & Company lifted their target price on M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a report on Friday, November 15th. Finally, Evercore ISI boosted their price target on M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, M&T Bank currently has an average rating of “Hold” and a consensus target price of $201.71.

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.