M&T Bank Co. (NYSE:MTB) Director John P. Barnes Sells 10,000 Shares

M&T Bank Co. (NYSE:MTB) Director John P. Barnes sold 10,000 shares of M&T Bank stock in a transaction 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 owns 34,545 shares in the company, valued at $5,081,914.95. The sale was disclosed in a document filed with the SEC, which is available through this link.

M&T Bank Trading Down 0.6 %

Shares of MTB opened at $145.54 on Tuesday. M&T Bank Co. has a twelve month low of $108.53 and a twelve month high of $148.93. The company has a current ratio of 0.94, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $24.25 billion, a P/E ratio of 9.84, a PEG ratio of 1.22 and a beta of 0.80. The firm’s 50-day moving average is $141.15 and its two-hundred day moving average is $134.03.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same quarter in the prior year, the company earned $4.09 EPS. On average, research analysts predict that M&T Bank Co. will post 13.92 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date was Friday, March 1st. M&T Bank’s dividend payout ratio is currently 35.16%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MTB shares. Evercore ISI boosted their target price on M&T Bank from $146.00 to $157.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. UBS Group upped their price target on shares of M&T Bank from $139.00 to $154.00 in a research report on Wednesday, January 17th. Piper Sandler lowered their price target on M&T Bank from $156.00 to $152.00 and set an “overweight” rating on the stock in a report on Friday, January 19th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research note on Thursday, April 25th. Finally, Barclays raised their target price on shares of M&T Bank from $150.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $158.48.

Institutional Investors Weigh In On M&T Bank

Institutional investors and hedge funds have recently made changes to their positions in the business. HHM Wealth Advisors LLC purchased a new position in shares of M&T Bank during the 4th quarter worth approximately $25,000. General Partner Inc. acquired a new position in shares of M&T Bank during the 1st quarter valued at about $27,000. BKM Wealth Management LLC purchased a new position in shares of M&T Bank during the 4th quarter worth about $32,000. Headinvest LLC acquired a new stake in shares of M&T Bank in the third quarter worth approximately $29,000. Finally, CVA Family Office LLC purchased a new stake in shares of M&T Bank during the 4th quarter valued at $33,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

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.