Doris P. Meister Sells 3,362 Shares of M&T Bank Co. (NYSE:MTB) Stock

M&T Bank Co. (NYSE:MTB) EVP Doris P. Meister sold 3,362 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $147.27, for a total value of $495,121.74. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

M&T Bank Stock Up 2.0 %

Shares of NYSE:MTB opened at $151.28 on Thursday. The stock has a market cap of $25.21 billion, a price-to-earnings ratio of 10.23, a price-to-earnings-growth ratio of 1.23 and a beta of 0.78. The firm’s 50 day moving average price is $142.27 and its 200 day moving average price is $135.15. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $151.33.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $2.26 billion. During the same quarter last year, the firm earned $4.09 earnings per share. As a group, equities research analysts predict that M&T Bank Co. will post 13.92 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank’s dividend payout ratio is 35.16%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wedbush reissued an “outperform” rating and issued a $170.00 price target on shares of M&T Bank in a research report on Wednesday, April 10th. Bank of America lifted their target price on M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. StockNews.com downgraded M&T Bank from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. UBS Group raised their price objective on M&T Bank from $139.00 to $154.00 in a report on Wednesday, January 17th. Finally, Morgan Stanley boosted their price objective on M&T Bank from $160.00 to $179.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $158.48.

Hedge Funds Weigh In On M&T Bank

Hedge funds have recently made changes to their positions in the business. HHM Wealth Advisors LLC bought a new position in M&T Bank in the fourth quarter valued at about $25,000. General Partner Inc. bought a new position in M&T Bank in the first quarter valued at approximately $27,000. Headinvest LLC acquired a new stake in shares of M&T Bank during the third quarter valued at about $29,000. Fidelis Capital Partners LLC acquired a new stake in M&T Bank during the 1st quarter valued at approximately $30,000. Finally, BKM Wealth Management LLC bought a new position in shares of M&T Bank during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Company Profile

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.