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 on Monday, May 6th. The stock was sold at an average price of $148.01, for a total transaction of $2,394,653.79. Following the sale, the director now owns 6,348 shares in the company, valued at $939,567.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

M&T Bank Trading Up 0.9 %

NYSE MTB opened at $152.66 on Friday. The company’s fifty day simple moving average is $142.53 and its 200-day simple moving average is $135.27. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $152.91. 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 stock has a market cap of $25.47 billion, a P/E ratio of 10.32, a PEG ratio of 1.23 and a beta of 0.78.

M&T Bank (NYSE:MTB) last posted its 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 analyst estimates of $2.26 billion. During the same period in the previous year, the firm posted $4.09 earnings per share. Equities research analysts predict that M&T Bank Co. will post 13.92 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.41%. M&T Bank’s payout ratio is currently 35.16%.

Wall Street Analyst Weigh In

MTB has been the subject of several recent analyst reports. StockNews.com cut shares of M&T Bank from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Jefferies Financial Group reduced their price objective on shares of M&T Bank from $154.00 to $151.00 and set a “hold” rating for the company in a research note on Monday, April 8th. Evercore ISI raised their price objective on shares of M&T Bank from $146.00 to $157.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. UBS Group raised their price objective on shares of M&T Bank from $139.00 to $154.00 in a research note on Wednesday, January 17th. Finally, Morgan Stanley raised their price objective on shares of M&T Bank from $160.00 to $179.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. One equities 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 stock. Based on data from MarketBeat.com, M&T Bank presently has a consensus rating of “Hold” and a consensus price target of $158.48.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MTB. GSA Capital Partners LLP bought a new stake in shares of M&T Bank in the third quarter worth $833,000. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of M&T Bank by 8.3% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,985 shares of the financial services provider’s stock worth $504,000 after buying an additional 305 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of M&T Bank in the third quarter worth $299,000. Stevens Capital Management LP bought a new stake in shares of M&T Bank in the fourth quarter worth $320,000. Finally, Metis Global Partners LLC increased its stake in shares of M&T Bank by 15.2% in the third quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider’s stock worth $893,000 after buying an additional 931 shares during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

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.