Insider Selling: M&T Bank Co. (NYSE:MTB) Director Sells 6,700 Shares of Stock

M&T Bank Co. (NYSE:MTB) Director Robert E. Sadler, Jr. sold 6,700 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $183.52, for a total transaction of $1,229,584.00. Following the transaction, the director now directly owns 23,070 shares in the company, valued at approximately $4,233,806.40. The trade was a 22.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

M&T Bank Trading Up 1.2%

NYSE MTB traded up $2.18 during trading hours on Monday, reaching $180.21. The company had a trading volume of 992,108 shares, compared to its average volume of 1,165,824. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $28.93 billion, a P/E ratio of 12.32, a price-to-earnings-growth ratio of 1.38 and a beta of 0.62. The stock has a 50-day moving average of $174.73 and a 200 day moving average of $185.08. M&T Bank Co. has a 1-year low of $141.14 and a 1-year high of $225.70.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing the consensus estimate of $3.41 by ($0.03). M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. The company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the company posted $3.09 earnings per share. As a group, research analysts anticipate that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be given a dividend of $1.35 per share. The ex-dividend date is Monday, June 2nd. This represents a $5.40 annualized dividend and a dividend yield of 3.00%. M&T Bank’s dividend payout ratio is currently 36.17%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MTB. Wall Street Zen upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. Wells Fargo & Company reduced their price objective on M&T Bank from $185.00 to $175.00 and set an “underweight” rating for the company in a research note on Tuesday, April 15th. Cowen began coverage on shares of M&T Bank in a report on Wednesday, May 14th. They set a “buy” rating for the company. Morgan Stanley reduced their target price on shares of M&T Bank from $269.00 to $253.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Finally, Citigroup lowered their price target on shares of M&T Bank from $230.00 to $195.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $212.53.

Institutional Investors Weigh In On M&T Bank

Several institutional investors and hedge funds have recently modified their holdings of MTB. Wealth Preservation Advisors LLC purchased a new position in M&T Bank during the 1st quarter valued at about $25,000. WPG Advisers LLC purchased a new position in shares of M&T Bank in the first quarter valued at approximately $25,000. Wood Tarver Financial Group LLC acquired a new position in shares of M&T Bank in the fourth quarter worth $29,000. Banque Transatlantique SA purchased a new stake in shares of M&T Bank during the fourth quarter worth $38,000. Finally, Grove Bank & Trust raised its stake in shares of M&T Bank by 104.6% in the first quarter. Grove Bank & Trust now owns 223 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Company Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.