Insider Selling: M&T Bank Co. (NYSE:MTB) Director Sells 20,000 Shares of Stock

M&T Bank Co. (NYSE:MTB) Director John P. Barnes sold 20,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $217.45, for a total transaction of $4,349,000.00. Following the sale, the director now directly owns 35,480 shares of the company’s stock, valued at approximately $7,715,126. This trade represents a 36.05 % 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 Price Performance

MTB stock opened at $221.96 on Tuesday. The stock has a market cap of $36.83 billion, a PE ratio of 16.43, a P/E/G ratio of 3.11 and a beta of 0.74. M&T Bank Co. has a 12 month low of $123.46 and a 12 month high of $225.70. The company has a 50-day moving average price of $192.95 and a 200 day moving average price of $170.23. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.60 by $0.48. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. The business had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.30 billion. Equities research analysts anticipate that M&T Bank Co. will post 14.56 earnings per share for the current year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend is Monday, December 2nd. M&T Bank’s dividend payout ratio (DPR) is presently 39.97%.

Analysts Set New Price Targets

MTB has been the subject of a number of research reports. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Wedbush raised their price objective on M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Wolfe Research upgraded M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a research report on Friday, October 4th. JPMorgan Chase & Co. upgraded M&T Bank from a “neutral” rating to an “overweight” rating and raised their price target for the company from $183.00 to $215.00 in a report on Tuesday, September 3rd. Finally, Evercore ISI upped their price objective on M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $201.71.

Institutional Trading of M&T Bank

Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC grew its holdings in shares of M&T Bank by 13.9% in the third quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock worth $2,199,675,000 after purchasing an additional 1,508,846 shares during the last quarter. State Street Corp grew its stake in M&T Bank by 6.4% in the 3rd quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock worth $1,562,725,000 after acquiring an additional 527,854 shares in the last quarter. Marshall Wace LLP grew its stake in 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 worth $102,432,000 after acquiring an additional 472,997 shares in the last quarter. Los Angeles Capital Management LLC increased its position in shares of M&T Bank by 77.0% during the second quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock worth $110,993,000 after acquiring an additional 319,051 shares during the period. Finally, Zurich Insurance Group Ltd FI bought a new stake in shares of M&T Bank during the third quarter valued at approximately $44,422,000. 84.68% of the stock is currently owned by institutional investors.

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.