Insider Selling: M&T Bank Co. (NYSE:MTB) Director Sells $1,471,100.00 in Stock

M&T Bank Co. (NYSE:MTB) Director John P. Barnes sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $147.11, for a total transaction of $1,471,100.00. Following the sale, the director now directly owns 34,545 shares of the company’s stock, valued at approximately $5,081,914.95. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

M&T Bank Trading Up 1.2 %

MTB opened at $146.13 on Thursday. M&T Bank Co. has a twelve month low of $108.53 and a twelve month high of $148.93. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The company has a fifty day moving average of $141.47 and a 200-day moving average of $134.29. The stock has a market cap of $24.35 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 1.22 and a beta of 0.80.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.13 by ($0.11). M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the company earned $4.09 earnings per share. On average, sell-side analysts predict that M&T Bank Co. will post 13.92 EPS for the current year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank’s dividend payout ratio (DPR) is presently 35.16%.

Analyst Ratings Changes

Several equities analysts recently commented on MTB shares. UBS Group increased their price objective on shares of M&T Bank from $139.00 to $154.00 in a research note on Wednesday, January 17th. Morgan Stanley increased their price objective on shares of M&T Bank from $160.00 to $179.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Jefferies Financial Group dropped their price objective on shares of M&T Bank from $154.00 to $151.00 and set a “hold” rating for the company in a research note on Monday, April 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $160.00 price objective on shares of M&T Bank in a research note on Tuesday, April 16th. Finally, Bank of America increased their price objective on shares of M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $158.48.

Institutional Investors Weigh In On M&T Bank

A number of large investors have recently bought and sold shares of MTB. Norges Bank acquired a new stake in M&T Bank in the fourth quarter worth $232,322,000. Invesco Ltd. grew its holdings in M&T Bank by 15.5% in the third quarter. Invesco Ltd. now owns 4,840,950 shares of the financial services provider’s stock worth $612,138,000 after purchasing an additional 650,796 shares during the period. Smead Capital Management Inc. acquired a new stake in M&T Bank in the fourth quarter worth $59,418,000. LSV Asset Management grew its holdings in M&T Bank by 63.5% in the third quarter. LSV Asset Management now owns 1,108,552 shares of the financial services provider’s stock worth $140,176,000 after purchasing an additional 430,356 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in M&T Bank by 29.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,726,434 shares of the financial services provider’s stock worth $218,308,000 after purchasing an additional 393,116 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

About M&T Bank

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.