M&T Bank Co. (NYSE:MTB) EVP Sells $468,210.75 in Stock

M&T Bank Co. (NYSE:MTB) EVP Tracy S. Woodrow sold 2,121 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total transaction of $468,210.75. Following the completion of the sale, the executive vice president now owns 5,141 shares of the company’s stock, valued at approximately $1,134,875.75. The trade was a 29.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

M&T Bank Price Performance

MTB traded up $0.32 during trading on Friday, reaching $221.12. The stock had a trading volume of 244,206 shares, compared to its average volume of 1,035,728. The stock has a 50 day moving average of $195.64 and a two-hundred day moving average of $171.40. 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 firm has a market capitalization of $36.69 billion, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 3.11 and a beta of 0.74. M&T Bank Co. has a 1-year low of $125.61 and a 1-year high of $225.70.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.60 by $0.48. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.30 billion. As a group, equities analysts anticipate that M&T Bank Co. will post 14.57 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.44%. The ex-dividend date is Monday, December 2nd. M&T Bank’s dividend payout ratio is presently 39.97%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its stake in shares of M&T Bank by 5.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 331,868 shares of the financial services provider’s stock worth $48,267,000 after acquiring an additional 18,566 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its position in shares of M&T Bank by 18.8% in 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 purchasing an additional 915 shares during the period. Citizens Financial Group Inc. RI purchased a new position in M&T Bank in the 1st quarter worth about $203,000. Swedbank AB purchased a new position in M&T Bank in the 1st quarter worth about $1,376,000. Finally, Atria Investments Inc acquired a new stake in M&T Bank during the 1st quarter worth about $1,014,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. upgraded shares of M&T Bank from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $183.00 to $215.00 in a report on Tuesday, September 3rd. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Morgan Stanley upped their price target on M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Citigroup lowered M&T Bank from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $220.00 to $230.00 in a research note on Monday. Finally, Wedbush boosted their target price on M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $206.41.

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.