John P. Barnes Sells 13,360 Shares of M&T Bank Co. (NYSE:MTB) Stock

M&T Bank Co. (NYSE:MTB) Director John P. Barnes sold 13,360 shares of M&T Bank stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $147.00, for a total value of $1,963,920.00. Following the completion of the sale, the director now directly owns 35,480 shares of the company’s stock, valued at approximately $5,215,560. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

M&T Bank Price Performance

Shares of NYSE:MTB opened at $151.28 on Thursday. M&T Bank Co. has a one year low of $108.53 and a one year high of $151.33. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99. The firm has a market capitalization of $25.21 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 1.23 and a beta of 0.78. The company’s fifty day moving average price is $142.27 and its 200-day moving average price is $135.15.

M&T Bank (NYSE:MTB) last released its earnings results on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the prior year, the company earned $4.09 EPS. On average, equities research analysts anticipate that M&T Bank Co. will post 13.92 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were given a $1.30 dividend. The ex-dividend date was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a yield of 3.44%. M&T Bank’s payout ratio is 35.16%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. GSA Capital Partners LLP bought a new position in shares of M&T Bank during the 3rd quarter valued at $833,000. Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of M&T Bank by 8.3% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,985 shares of the financial services provider’s stock worth $504,000 after buying an additional 305 shares during the period. NBC Securities Inc. bought a new stake in shares of M&T Bank in the 3rd quarter valued at about $299,000. Stevens Capital Management LP bought a new position in M&T Bank during the 4th quarter worth approximately $320,000. Finally, Metis Global Partners LLC increased its stake in M&T Bank by 15.2% in the 3rd quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider’s stock worth $893,000 after purchasing an additional 931 shares during the period. 84.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Morgan Stanley lifted their target price on shares of M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Jefferies Financial Group dropped their target price on M&T Bank from $154.00 to $151.00 and set a “hold” rating on the stock in a research report on Monday, April 8th. Piper Sandler reduced their price target on M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a research report on Friday, January 19th. Keefe, Bruyette & Woods boosted their price objective on M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a research note on Tuesday, April 16th. Finally, Bank of America raised their target price on M&T Bank from $157.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and an average target price of $158.48.

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.