M&T Bank Co. (NYSE:MTB) VP Michele D. Trolli sold 5,000 shares of M&T Bank stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $173.14, for a total transaction of $865,700.00. Following the completion of the transaction, the vice president now owns 10,878 shares of the company’s stock, valued at approximately $1,883,416.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of NYSE:MTB opened at $163.79 on Thursday. The company has a market cap of $23.73 billion, a PE ratio of 12.62, a P/E/G ratio of 0.89 and a beta of 1.07. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.59. M&T Bank Co. has a twelve month low of $133.78 and a twelve month high of $192.15.
M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, January 17th. The financial services provider reported $3.76 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $0.27. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.50 billion. M&T Bank had a net margin of 29.72% and a return on equity of 14.24%. During the same period in the previous year, the company posted $2.66 EPS. On average, equities research analysts forecast that M&T Bank Co. will post 14.62 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Monday, March 4th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Friday, March 1st. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.44%. M&T Bank’s payout ratio is 31.10%.
Several brokerages have recently weighed in on MTB. ValuEngine downgraded shares of M&T Bank from a “hold” rating to a “sell” rating in a research report on Thursday. Barclays reduced their price objective on shares of M&T Bank from $210.00 to $203.00 and set an “overweight” rating for the company in a research report on Wednesday, January 2nd. Robert W. Baird downgraded shares of M&T Bank from an “outperform” rating to a “neutral” rating and set a $175.00 price objective for the company. in a research report on Thursday, February 21st. UBS Group upgraded shares of M&T Bank from a “sell” rating to a “neutral” rating in a research report on Tuesday, January 8th. Finally, Citigroup boosted their price objective on shares of M&T Bank from $162.00 to $172.00 and gave the stock a “neutral” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. M&T Bank currently has a consensus rating of “Buy” and a consensus price target of $179.58.
Several institutional investors have recently made changes to their positions in MTB. FMR LLC increased its holdings in shares of M&T Bank by 74.1% in the 4th quarter. FMR LLC now owns 5,947,002 shares of the financial services provider’s stock valued at $851,195,000 after acquiring an additional 2,532,038 shares during the period. Norges Bank acquired a new position in shares of M&T Bank in the 4th quarter valued at $174,207,000. TIAA CREF Investment Management LLC increased its holdings in shares of M&T Bank by 118.1% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 872,268 shares of the financial services provider’s stock valued at $143,523,000 after acquiring an additional 472,403 shares during the period. Janus Henderson Group PLC increased its holdings in shares of M&T Bank by 104.2% in the 3rd quarter. Janus Henderson Group PLC now owns 727,518 shares of the financial services provider’s stock valued at $119,706,000 after acquiring an additional 371,263 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in shares of M&T Bank in the 3rd quarter valued at $58,258,000. 79.97% of the stock is currently owned by institutional investors and hedge funds.
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M&T Bank Company Profile
M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.
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