M&T Bank Co. (NYSE:MTB) EVP Michael J. Todaro Sells 4,786 Shares

M&T Bank Co. (NYSE:MTB) EVP Michael J. Todaro sold 4,786 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $214.10, for a total transaction of $1,024,682.60. Following the completion of the sale, the executive vice president now directly owns 2,787 shares of the company’s stock, valued at $596,696.70. The trade was a 63.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

M&T Bank Price Performance

MTB stock traded up $1.98 during mid-day trading on Friday, hitting $215.25. The stock had a trading volume of 78,132 shares, compared to its average volume of 1,044,046. The firm has a market capitalization of $35.71 billion, a P/E ratio of 15.98, a P/E/G ratio of 2.98 and a beta of 0.74. M&T Bank Co. has a 52 week low of $123.37 and a 52 week high of $216.84. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44. The firm has a fifty day simple moving average of $186.15 and a 200 day simple moving average of $166.57.

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

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 2.51%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s dividend payout ratio (DPR) is presently 39.97%.

Analysts Set New Price Targets

A number of research firms recently weighed in on MTB. Morgan Stanley increased their price target on M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Piper Sandler increased their price objective on M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. raised M&T Bank from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $183.00 to $215.00 in a research note on Tuesday, September 3rd. Finally, Barclays increased their price target on shares of M&T Bank from $170.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $199.65.

Institutional Investors Weigh In On M&T Bank

Several hedge funds and other institutional investors have recently modified their holdings of MTB. Plato Investment Management Ltd boosted its stake in M&T Bank by 2,300.0% during the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 161 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of M&T Bank in the third quarter valued at about $32,000. Hexagon Capital Partners LLC grew its stake in M&T Bank by 54.4% during the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 68 shares in the last quarter. Oakworth Capital Inc. bought a new stake in M&T Bank in the second quarter worth $35,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of M&T Bank by 329.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 158 shares during the period. 84.68% of the stock is currently owned by institutional investors.

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.