M&T Bank (NYSE:MTB) EVP Sells $1,840,804.76 in Stock

M&T Bank Corporation (NYSE:MTB) EVP Michael Wisler sold 8,237 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $223.48, for a total value of $1,840,804.76. Following the transaction, the executive vice president directly owned 4,643 shares of the company’s stock, valued at approximately $1,037,617.64. This trade represents a 63.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

M&T Bank Price Performance

MTB opened at $219.34 on Thursday. The firm has a market cap of $32.68 billion, a PE ratio of 12.86, a P/E/G ratio of 0.96 and a beta of 0.58. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.96 and a quick ratio of 0.96. M&T Bank Corporation has a 1 year low of $150.75 and a 1 year high of $239.00. The stock has a 50-day moving average price of $218.92 and a 200-day moving average price of $202.07.

M&T Bank (NYSE:MTB) last issued its earnings results on Friday, January 16th. The financial services provider reported $4.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.47 by $0.25. M&T Bank had a net margin of 21.55% and a return on equity of 10.94%. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the prior year, the firm posted $3.77 earnings per share. Sell-side analysts predict that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 2nd will be given a $1.50 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $6.00 dividend on an annualized basis and a yield of 2.7%. M&T Bank’s payout ratio is 35.19%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Canoe Financial LP raised its holdings in shares of M&T Bank by 50.5% in the fourth quarter. Canoe Financial LP now owns 652,744 shares of the financial services provider’s stock valued at $131,515,000 after acquiring an additional 219,065 shares in the last quarter. Miller Howard Investments Inc. NY purchased a new position in shares of M&T Bank in the fourth quarter worth $42,817,000. Danske Bank A S acquired a new stake in M&T Bank during the 3rd quarter worth about $29,612,000. Russell Investments Group Ltd. lifted its holdings in shares of M&T Bank by 94.9% during the third quarter. Russell Investments Group Ltd. now owns 292,839 shares of the financial services provider’s stock worth $57,879,000 after purchasing an additional 142,593 shares during the period. Finally, Munich Reinsurance Co Stock Corp in Munich lifted its stake in M&T Bank by 37.1% during the 4th quarter. Munich Reinsurance Co Stock Corp in Munich now owns 351,076 shares of the financial services provider’s stock valued at $71,462,000 after acquiring an additional 95,025 shares during the period. Institutional investors own 84.68% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on MTB. UBS Group upped their price objective on M&T Bank from $217.00 to $230.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Cantor Fitzgerald raised their price objective on shares of M&T Bank from $238.00 to $255.00 and gave the company an “overweight” rating in a research report on Tuesday. Morgan Stanley boosted their price target on M&T Bank from $251.00 to $271.00 and gave the stock an “equal weight” rating in a report on Monday. Bank of America reiterated a “neutral” rating and issued a $225.00 price target on shares of M&T Bank in a research note on Wednesday, January 7th. Finally, TD Cowen reiterated a “buy” rating on shares of M&T Bank in a research report on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $232.34.

About M&T Bank

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.