John P. Barnes Sells 13,360 Shares of M&T Bank Co. (NYSE:MTB) Stock

M&T Bank Co. (NYSE:MTB) Director John P. Barnes sold 13,360 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $147.00, for a total value of $1,963,920.00. Following the completion of the transaction, the director now owns 35,480 shares in the company, valued at $5,215,560. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

M&T Bank Price Performance

Shares of NYSE MTB opened at $151.28 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99. The business has a 50-day moving average of $142.27 and a 200-day moving average of $135.15. The stock has a market capitalization of $25.21 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 1.23 and a beta of 0.78. 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 posted 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). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the prior year, the business earned $4.09 earnings per share. As a group, sell-side 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. Shareholders of record on Monday, March 4th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.44%. The ex-dividend date was Friday, March 1st. M&T Bank’s dividend payout ratio (DPR) is currently 35.16%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MTB shares. Evercore ISI lifted their price target on shares of M&T Bank from $146.00 to $157.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. Wedbush restated an “outperform” rating and issued a $170.00 price objective on shares of M&T Bank in a research report on Wednesday, April 10th. DA Davidson restated a “neutral” rating and set a $159.00 target price on shares of M&T Bank in a report on Tuesday, April 16th. JPMorgan Chase & Co. upped their price target on shares of M&T Bank from $170.00 to $180.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Finally, Piper Sandler dropped their price objective on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating on the stock in a report on Friday, January 19th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $158.48.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MTB. HHM Wealth Advisors LLC bought a new stake in shares of M&T Bank in the 4th quarter valued at about $25,000. General Partner Inc. acquired a new position in M&T Bank during the first quarter worth approximately $27,000. Headinvest LLC bought a new stake in M&T Bank in the third quarter valued at approximately $29,000. Fidelis Capital Partners LLC acquired a new stake in shares of M&T Bank in the first 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 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.