M&T Bank Co. (NYSE:MTB) Director Sells $2,394,653.79 in Stock

M&T Bank Co. (NYSE:MTB) Director Kirk W. Walters sold 16,179 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $148.01, for a total value of $2,394,653.79. Following the transaction, the director now directly owns 6,348 shares of the company’s stock, valued at $939,567.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

M&T Bank Stock Up 2.0 %

Shares of NYSE:MTB opened at $151.28 on Thursday. The firm has a market cap of $25.21 billion, a P/E ratio of 10.23, a PEG ratio of 1.23 and a beta of 0.78. M&T Bank Co. has a 52-week low of $108.53 and a 52-week high of $151.33. The business’s 50 day simple moving average is $142.27 and its two-hundred day simple moving average is $135.15. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.94.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period in the previous year, the business posted $4.09 EPS. As a group, research analysts forecast that M&T Bank Co. will post 13.92 EPS for the current fiscal year.

M&T Bank Announces Dividend

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

Hedge Funds Weigh In On M&T Bank

Large investors have recently added to or reduced their stakes in the business. HHM Wealth Advisors LLC purchased a new stake in shares of M&T Bank in the fourth quarter worth approximately $25,000. General Partner Inc. purchased a new stake in M&T Bank in the 1st quarter valued at $27,000. Headinvest LLC bought a new position in M&T Bank during the 3rd quarter valued at $29,000. Fidelis Capital Partners LLC purchased a new position in M&T Bank during the 1st quarter worth $30,000. Finally, BKM Wealth Management LLC bought a new stake in shares of M&T Bank in the 4th quarter worth $32,000. Institutional investors own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Wedbush restated an “outperform” rating and set a $170.00 price objective on shares of M&T Bank in a research report on Wednesday, April 10th. Evercore ISI boosted their price target on shares of M&T Bank from $146.00 to $157.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. Keefe, Bruyette & Woods increased their price objective on shares of M&T Bank from $162.00 to $170.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 16th. Wells Fargo & Company boosted their target price on shares of M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a report on Tuesday, April 16th. Finally, Morgan Stanley lifted their price objective on M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $158.48.

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.