Kirk W. Walters Sells 1,590 Shares of M&T Bank Co. (NYSE:MTB) Stock

M&T Bank Co. (NYSE:MTB) Director Kirk W. Walters sold 1,590 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $210.22, for a total transaction of $334,249.80. Following the sale, the director now directly owns 2,108 shares of the company’s stock, valued at approximately $443,143.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

M&T Bank Trading Up 0.6 %

MTB traded up $1.35 during trading on Friday, hitting $209.46. 937,946 shares of the stock were exchanged, compared to its average volume of 1,049,718. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 0.94. The firm has a 50 day simple moving average of $182.71 and a 200 day simple moving average of $164.73. The firm has a market cap of $34.95 billion, a price-to-earnings ratio of 15.50, a P/E/G ratio of 2.70 and a beta of 0.74. M&T Bank Co. has a 1 year low of $115.93 and a 1 year high of $216.84.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s dividend payout ratio (DPR) is presently 39.97%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MTB. Hedeker Wealth LLC raised its stake in M&T Bank by 1.6% in the third quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider’s stock worth $627,000 after buying an additional 55 shares in the last quarter. Frank Rimerman Advisors LLC lifted its stake in shares of M&T Bank by 1.0% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider’s stock worth $1,005,000 after purchasing an additional 57 shares during the last quarter. Crestwood Advisors Group LLC grew its stake in M&T Bank by 1.9% in the third quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock valued at $553,000 after purchasing an additional 57 shares during the last quarter. Hexagon Capital Partners LLC raised its holdings in M&T Bank by 54.4% in the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 68 shares in the last quarter. Finally, Meitav Investment House Ltd. boosted its holdings in shares of M&T Bank by 3.1% in the 3rd quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider’s stock valued at $386,000 after buying an additional 69 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on MTB shares. Morgan Stanley boosted their price target on shares of M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Citigroup upped their price objective on M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Keefe, Bruyette & Woods boosted their price target on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. Finally, Wedbush increased their price objective 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. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, M&T Bank presently has an average rating of “Hold” and an average price target of $198.76.

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.