M&T Bank Co. (NYSE:MTB) Director Sells $1,720,300.00 in Stock

M&T Bank Co. (NYSE:MTB) Director Denis J. Salamone sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the sale, the director now owns 44,902 shares in the company, valued at approximately $7,724,491.06. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

M&T Bank Price Performance

MTB stock traded down $0.16 during trading on Thursday, hitting $168.80. 919,610 shares of the company’s stock traded hands, compared to its average volume of 1,013,476. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $176.44. The stock has a market capitalization of $28.16 billion, a price-to-earnings ratio of 11.42, a P/E/G ratio of 3.45 and a beta of 0.77. The business has a fifty day simple moving average of $162.54 and a 200 day simple moving average of $150.77. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. The firm had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the firm earned $5.12 EPS. As a group, research analysts expect that M&T Bank Co. will post 14.24 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Tuesday, September 3rd. M&T Bank’s dividend payout ratio is currently 36.51%.

Institutional Trading of M&T Bank

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Meeder Advisory Services Inc. raised its stake in shares of M&T Bank by 3.9% in the first quarter. Meeder Advisory Services Inc. now owns 1,879 shares of the financial services provider’s stock valued at $273,000 after acquiring an additional 70 shares during the period. Massmutual Trust Co. FSB ADV raised its position in M&T Bank by 1.5% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 4,711 shares of the financial services provider’s stock worth $713,000 after purchasing an additional 70 shares during the period. Umpqua Bank lifted its stake in M&T Bank by 5.3% in the second quarter. Umpqua Bank now owns 1,460 shares of the financial services provider’s stock worth $221,000 after purchasing an additional 73 shares during the last quarter. Fulton Bank N.A. boosted its position in shares of M&T Bank by 2.3% during the first quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider’s stock valued at $526,000 after buying an additional 81 shares during the period. Finally, Tritonpoint Wealth LLC grew its stake in shares of M&T Bank by 2.3% during the first quarter. Tritonpoint Wealth LLC now owns 3,833 shares of the financial services provider’s stock valued at $510,000 after buying an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MTB. Evercore ISI raised their price objective on shares of M&T Bank from $157.00 to $168.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. Jefferies Financial Group raised their price target on M&T Bank from $160.00 to $161.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Wells Fargo & Company lowered M&T Bank from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $170.00 to $165.00 in a research note on Thursday, August 15th. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, July 19th. Finally, Keefe, Bruyette & Woods upped their price target on M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $175.85.

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.