M&T Bank Co. (NYSE:MTB) Director Sells $2,394,653.79 in Stock

M&T Bank Co. (NYSE:MTB) Director Kirk W. Walters sold 16,179 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $148.01, for a total value of $2,394,653.79. Following the transaction, the director now owns 6,348 shares of the company’s stock, valued at approximately $939,567.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

M&T Bank Stock Performance

Shares of NYSE:MTB opened at $152.66 on Friday. The company has a market capitalization of $25.47 billion, a price-to-earnings ratio of 10.32, a price-to-earnings-growth ratio of 1.23 and a beta of 0.78. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $152.91. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The firm has a 50 day moving average of $142.53 and a 200 day moving average of $135.27.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data 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). The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate 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 period last year, the firm earned $4.09 EPS. On average, sell-side 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date was Friday, March 1st. M&T Bank’s dividend payout ratio (DPR) is 35.16%.

Hedge Funds Weigh In On M&T Bank

A number of large investors have recently bought and sold shares of the business. HHM Wealth Advisors LLC purchased a new position in M&T Bank in the fourth quarter worth $25,000. General Partner Inc. purchased a new position in M&T Bank in the first quarter worth $27,000. Headinvest LLC purchased a new position in M&T Bank in the third quarter worth $29,000. Fidelis Capital Partners LLC purchased a new position in M&T Bank in the first quarter worth $30,000. Finally, BKM Wealth Management LLC purchased a new position in M&T Bank in the fourth quarter worth $32,000. Institutional investors own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MTB. Evercore ISI boosted their price objective 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. StockNews.com cut shares of M&T Bank from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Piper Sandler decreased their price objective on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a report on Friday, January 19th. Keefe, Bruyette & Woods boosted their price objective on shares of M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a research report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. raised their target price on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, M&T Bank has a consensus rating of “Hold” and a consensus price target of $158.48.

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.