Insider Selling: M&T Bank (NYSE:MTB) Director Sells 6,000 Shares of Stock

M&T Bank Corporation (NYSE:MTB) Director Robert Sadler, Jr. sold 6,000 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $190.06, for a total value of $1,140,360.00. Following the transaction, the director owned 17,070 shares of the company’s stock, valued at $3,244,324.20. The trade was a 26.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

M&T Bank Stock Down 0.3%

MTB stock traded down $0.66 during trading on Wednesday, hitting $190.92. 372,709 shares of the stock traded hands, compared to its average volume of 1,207,880. The stock has a market cap of $29.34 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 0.87 and a beta of 0.66. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.97 and a quick ratio of 0.97. M&T Bank Corporation has a 1 year low of $150.75 and a 1 year high of $224.23. The firm’s 50 day moving average is $188.07 and its two-hundred day moving average is $190.20.

M&T Bank (NYSE:MTB) last issued its earnings results on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share (EPS) for the quarter. M&T Bank had a net margin of 20.91% and a return on equity of 10.62%. The firm had revenue of $1.54 billion for the quarter. On average, sell-side analysts anticipate that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st will be issued a $1.50 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.1%. M&T Bank’s dividend payout ratio (DPR) is presently 36.95%.

Institutional Investors Weigh In On M&T Bank

Hedge funds have recently modified their holdings of the business. Wealth Preservation Advisors LLC bought a new position in M&T Bank in the 1st quarter worth $25,000. WPG Advisers LLC bought a new position in shares of M&T Bank in the first quarter worth about $25,000. Golden State Wealth Management LLC lifted its position in shares of M&T Bank by 2,214.3% during the 2nd quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock valued at $31,000 after buying an additional 155 shares in the last quarter. Bank of Jackson Hole Trust grew its stake in shares of M&T Bank by 342.9% during the 3rd quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 120 shares during the period. Finally, Triumph Capital Management purchased a new stake in M&T Bank in the 3rd quarter worth approximately $32,000. Institutional investors own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MTB. Truist Financial lowered their price target on M&T Bank from $227.00 to $217.00 and set a “buy” rating on the stock in a report on Friday, October 17th. Piper Sandler started coverage on shares of M&T Bank in a research note on Monday, October 6th. They set an “overweight” rating and a $225.00 target price on the stock. TD Cowen lifted their price target on shares of M&T Bank from $235.00 to $245.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Wall Street Zen raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Evercore ISI raised their target price on shares of M&T Bank from $222.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, M&T Bank presently has a consensus rating of “Moderate Buy” and a consensus target price of $216.36.

About M&T Bank

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.