Insider Selling: M&T Bank (NYSE:MTB) Director Sells $4,998,369.05 in Stock

M&T Bank Corporation (NYSE:MTB) Director John Barnes sold 21,193 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $235.85, for a total value of $4,998,369.05. Following the completion of the sale, the director owned 15,142 shares of the company’s stock, valued at $3,571,240.70. The trade was a 58.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

M&T Bank Stock Down 1.1%

Shares of NYSE MTB opened at $228.83 on Friday. The firm’s fifty day moving average is $213.67 and its 200 day moving average is $198.82. M&T Bank Corporation has a 52 week low of $150.75 and a 52 week high of $239.00. The company has a quick ratio of 0.97, a current ratio of 0.90 and a debt-to-equity ratio of 0.41. The company has a market cap of $35.17 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 1.01 and a beta of 0.60.

M&T Bank (NYSE:MTB) last announced its quarterly 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. M&T Bank had a net margin of 21.55% and a return on equity of 10.94%. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter last year, the firm earned $3.77 EPS. On average, equities research analysts expect that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 1st were issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Monday, December 1st. M&T Bank’s payout ratio is currently 35.19%.

Wall Street Analysts Forecast Growth

MTB has been the topic of a number of recent analyst reports. Bank of America reiterated a “neutral” rating and issued a $225.00 price objective on shares of M&T Bank in a research report on Wednesday, January 7th. Truist Financial set a $230.00 price target on shares of M&T Bank in a report on Tuesday, January 20th. TD Cowen reissued a “buy” rating on shares of M&T Bank in a research report on Wednesday, January 7th. Wall Street Zen raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Citigroup lifted their target price on shares of M&T Bank from $215.00 to $225.00 and gave the company a “neutral” rating in a research note on Friday, January 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, M&T Bank presently has a consensus rating of “Hold” and a consensus price target of $228.50.

Institutional Trading of M&T Bank

A number of hedge funds have recently modified their holdings of the business. Bank of Jackson Hole Trust increased its stake in shares of M&T Bank by 342.9% in the 3rd quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 120 shares in the last quarter. Triumph Capital Management bought a new position in shares of M&T Bank during the third quarter valued at approximately $32,000. Golden State Wealth Management LLC lifted its holdings in shares of M&T Bank by 2,214.3% during the second quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 155 shares during the last quarter. Elyxium Wealth LLC purchased a new position in shares of M&T Bank during the fourth quarter valued at approximately $33,000. Finally, Ameriflex Group Inc. boosted its position in shares of M&T Bank by 82.4% in the 3rd quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 84 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

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.