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 Tuesday, October 22nd. The stock was sold at an average price of $193.97, for a total transaction of $3,879,400.00. Following the completion of the sale, the director now owns 49,960 shares in the company, valued at $9,690,741.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

M&T Bank Price Performance

Shares of M&T Bank stock opened at $192.57 on Friday. The firm has a market cap of $32.13 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 2.75 and a beta of 0.75. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $200.94. The company has a quick ratio of 1.00, a current ratio of 0.94 and a debt-to-equity ratio of 0.44. The company’s fifty day simple moving average is $176.21 and its two-hundred day simple moving average is $160.54.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s dividend payout ratio (DPR) is presently 39.97%.

Analyst Ratings Changes

Several analysts have issued reports on MTB shares. Wedbush increased their target price on shares of M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Barclays raised their price objective on shares of M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Piper Sandler raised their price objective on shares of M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. Keefe, Bruyette & Woods raised their price objective on shares of M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. upgraded shares of M&T Bank from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $183.00 to $215.00 in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $197.47.

Institutional Investors Weigh In On M&T Bank

Large investors have recently added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board grew its holdings in M&T Bank by 43.1% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 12,423 shares of the financial services provider’s stock worth $1,807,000 after acquiring an additional 3,739 shares during the last quarter. Leuthold Group LLC bought a new stake in shares of M&T Bank during the 1st quarter valued at about $3,125,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of M&T Bank by 7.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 497,503 shares of the financial services provider’s stock valued at $72,357,000 after purchasing an additional 35,692 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of M&T Bank by 5.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 331,868 shares of the financial services provider’s stock valued at $48,267,000 after purchasing an additional 18,566 shares in the last quarter. Finally, Gateway Investment Advisers LLC boosted its stake in shares of M&T Bank by 60.0% during the 2nd quarter. Gateway Investment Advisers LLC now owns 32,799 shares of the financial services provider’s stock valued at $4,964,000 after purchasing an additional 12,304 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

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.