M&T Bank Co. (NYSE:MTB) Director Sells $1,298,512.08 in Stock

M&T Bank Co. (NYSE:MTB) Director Kirk W. Walters sold 7,464 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $173.97, for a total value of $1,298,512.08. Following the sale, the director now owns 15,045 shares of the company’s stock, valued at $2,617,378.65. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

M&T Bank Stock Performance

MTB opened at $166.85 on Friday. The stock has a market cap of $27.84 billion, a PE ratio of 11.28, a P/E/G ratio of 3.48 and a beta of 0.77. The company has a current ratio of 0.94, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a 1 year low of $108.53 and a 1 year high of $176.44. The stock’s 50 day simple moving average is $153.86 and its 200-day simple moving average is $145.95.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. The business had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $2.27 billion. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. During the same period in the previous year, the business posted $5.12 earnings per share. Sell-side analysts forecast that M&T Bank Co. will post 14.24 EPS for the current year.

M&T Bank Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were paid a $1.35 dividend. This is a positive change from M&T Bank’s previous quarterly dividend of $1.30. The ex-dividend date was Monday, June 3rd. This represents a $5.40 annualized dividend and a yield of 3.24%. M&T Bank’s payout ratio is currently 36.51%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. DA Davidson lifted their price target on M&T Bank from $159.00 to $185.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Jefferies Financial Group raised their price objective on M&T Bank from $160.00 to $161.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Citigroup raised their price objective on M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Evercore ISI raised their price objective on M&T Bank from $157.00 to $168.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. Finally, Piper Sandler lifted their price target on M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, M&T Bank currently has a consensus rating of “Hold” and a consensus target price of $170.35.

Institutional Trading of M&T Bank

Several institutional investors have recently bought and sold shares of the stock. Meeder Advisory Services Inc. boosted its stake in M&T Bank by 3.9% in the 1st quarter. Meeder Advisory Services Inc. now owns 1,879 shares of the financial services provider’s stock valued at $273,000 after buying an additional 70 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in M&T Bank by 1.5% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 4,711 shares of the financial services provider’s stock valued at $713,000 after buying an additional 70 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in M&T Bank by 3.2% in the 4th quarter. First Horizon Advisors Inc. now owns 2,548 shares of the financial services provider’s stock valued at $349,000 after buying an additional 80 shares in the last quarter. Fulton Bank N.A. boosted its stake in M&T Bank by 2.3% in the first quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider’s stock worth $526,000 after purchasing an additional 81 shares in the last quarter. Finally, Tritonpoint Wealth LLC boosted its stake in M&T Bank by 2.3% in the first quarter. Tritonpoint Wealth LLC now owns 3,833 shares of the financial services provider’s stock worth $510,000 after purchasing an additional 87 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

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.