M&T Bank (NYSE:MTB) Director Sells $2,996,850.00 in Stock

M&T Bank Corporation (NYSE:MTB) Director John Barnes sold 15,000 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $199.79, for a total transaction of $2,996,850.00. Following the sale, the director directly owned 17,866 shares in the company, valued at approximately $3,569,448.14. The trade was a 45.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

M&T Bank Price Performance

MTB stock opened at $202.35 on Thursday. M&T Bank Corporation has a 52 week low of $150.75 and a 52 week high of $225.70. The firm has a market capitalization of $31.62 billion, a P/E ratio of 13.11, a price-to-earnings-growth ratio of 0.98 and a beta of 0.63. The company has a fifty day simple moving average of $193.95 and a two-hundred day simple moving average of $183.64. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB) last announced its earnings results on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.04 by $0.24. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.39 billion. M&T Bank had a net margin of 20.44% and a return on equity of 10.35%. During the same period in the prior year, the company earned $3.73 EPS. Analysts anticipate that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd will be issued a $1.50 dividend. This is a positive change from M&T Bank’s previous quarterly dividend of $1.35. The ex-dividend date is Tuesday, September 2nd. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.0%. M&T Bank’s dividend payout ratio (DPR) is presently 34.97%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Wealth Preservation Advisors LLC bought a new stake in M&T Bank during the 1st quarter valued at about $25,000. WPG Advisers LLC purchased a new position in shares of M&T Bank during the first quarter worth approximately $25,000. Wood Tarver Financial Group LLC bought a new stake in shares of M&T Bank during the fourth quarter valued at approximately $29,000. Golden State Wealth Management LLC boosted its holdings in shares of M&T Bank by 2,214.3% in 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 period. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of M&T Bank in the second quarter valued at approximately $36,000. 84.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MTB. DA Davidson boosted their target price on M&T Bank from $189.00 to $207.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Wall Street Zen upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. Wells Fargo & Company raised their target price on shares of M&T Bank from $175.00 to $185.00 and gave the stock an “underweight” rating in a report on Thursday, July 17th. Cowen assumed coverage on shares of M&T Bank in a report on Wednesday, May 14th. They set a “buy” rating on the stock. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of M&T Bank in a research report on Monday, May 19th. Thirteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $212.88.

About M&T Bank

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.