M&T Bank Co. (NYSE:MTB) Director Robert E. Sadler, Jr. Sells 2,000 Shares

M&T Bank Co. (NYSE:MTB) Director Robert E. Sadler, Jr. sold 2,000 shares of M&T Bank stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $198.00, for a total transaction of $396,000.00. Following the completion of the transaction, the director now directly owns 29,796 shares in the company, valued at approximately $5,899,608. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

M&T Bank Trading Down 1.2 %

Shares of M&T Bank stock opened at $192.25 on Friday. The firm has a market capitalization of $32.08 billion, a PE ratio of 14.23, a price-to-earnings-growth ratio of 2.80 and a beta of 0.75. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.94 and a quick ratio of 1.00. The company’s fifty day moving average price is $179.30 and its two-hundred day moving average price is $162.56. M&T Bank Co. has a 52-week low of $112.60 and a 52-week high of $200.94.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a $1.35 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a dividend yield of 2.81%. M&T Bank’s dividend payout ratio is presently 39.97%.

Institutional Investors Weigh In On M&T Bank

Several institutional investors and hedge funds have recently made changes to their positions in MTB. Marshall Wace LLP boosted its stake in shares of M&T Bank by 232.1% in the 2nd quarter. Marshall Wace LLP now owns 676,745 shares of the financial services provider’s stock valued at $102,432,000 after purchasing an additional 472,997 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of M&T Bank by 77.0% in the 2nd quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock valued at $110,993,000 after purchasing an additional 319,051 shares in the last quarter. Canoe Financial LP boosted its stake in shares of M&T Bank by 29.4% in the 3rd quarter. Canoe Financial LP now owns 588,302 shares of the financial services provider’s stock valued at $103,200,000 after purchasing an additional 133,748 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of M&T Bank by 17,784.1% in the 3rd quarter. International Assets Investment Management LLC now owns 110,166 shares of the financial services provider’s stock valued at $19,623,000 after purchasing an additional 109,550 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of M&T Bank by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock valued at $244,129,000 after purchasing an additional 93,113 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

MTB has been the topic of a number of recent analyst reports. Wedbush lifted their price target on shares of M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Piper Sandler boosted their target price on shares of M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. raised shares of M&T Bank from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $183.00 to $215.00 in a research report on Tuesday, September 3rd. DA Davidson boosted their target price on shares of M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Finally, The Goldman Sachs Group boosted their target price on shares of M&T Bank from $190.00 to $216.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, M&T Bank presently has an average rating of “Hold” and a consensus target price of $198.76.

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.