Kirk Walters Sells 909 Shares of M&T Bank (NYSE:MTB) Stock

M&T Bank Corporation (NYSE:MTB) Director Kirk Walters sold 909 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $227.37, for a total value of $206,679.33. Following the completion of the sale, the director directly owned 5,976 shares of the company’s stock, valued at approximately $1,358,763.12. This represents a 13.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

M&T Bank Trading Up 0.7%

NYSE MTB traded up $1.70 on Thursday, reaching $233.96. 1,676,635 shares of the company were exchanged, compared to its average volume of 1,291,802. The company has a current ratio of 0.90, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. The business’s fifty day moving average price is $208.72 and its 200 day moving average price is $197.18. The stock has a market capitalization of $35.96 billion, a P/E ratio of 13.72, a price-to-earnings-growth ratio of 1.02 and a beta of 0.60. M&T Bank Corporation has a fifty-two week low of $150.75 and a fifty-two week high of $235.77.

M&T Bank (NYSE:MTB) last issued its earnings results on Friday, January 16th. The financial services provider reported $4.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.47 by $0.25. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.47 billion. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.During the same period last year, the company earned $3.77 EPS. Analysts forecast that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st were issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.6%. The ex-dividend date was Monday, December 1st. M&T Bank’s payout ratio is presently 35.19%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MTB shares. Barclays raised their price target on shares of M&T Bank from $220.00 to $236.00 and gave the stock an “equal weight” rating in a report on Monday, January 5th. Robert W. Baird raised their target price on M&T Bank from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, December 18th. Truist Financial set a $230.00 target price on M&T Bank in a research report on Tuesday, January 20th. Wolfe Research cut M&T Bank from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 7th. Finally, Wall Street Zen raised M&T Bank from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, M&T Bank has an average rating of “Hold” and a consensus price target of $224.29.

Institutional Investors Weigh In On M&T Bank

A number of institutional investors have recently modified their holdings of the company. Elyxium Wealth LLC purchased a new position in M&T Bank during the 4th quarter valued at about $33,000. Staley Capital Advisers Inc. increased its stake in M&T Bank by 19.0% during the fourth quarter. Staley Capital Advisers Inc. now owns 5,475 shares of the financial services provider’s stock worth $1,103,000 after purchasing an additional 875 shares during the period. Canada Post Corp Registered Pension Plan increased its stake in M&T Bank by 68.6% during the fourth quarter. Canada Post Corp Registered Pension Plan now owns 9,330 shares of the financial services provider’s stock worth $1,880,000 after purchasing an additional 3,797 shares during the period. Commerzbank Aktiengesellschaft FI lifted its position in shares of M&T Bank by 7.1% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 10,321 shares of the financial services provider’s stock worth $2,079,000 after purchasing an additional 681 shares in the last quarter. Finally, Northeast Investment Management purchased a new position in shares of M&T Bank in the fourth quarter valued at approximately $824,000. 84.68% of the stock is owned by institutional investors and hedge funds.

M&T Bank Company Profile

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.