M&T Bank (NYSE:MTB) Director Rudina Seseri Sells 623 Shares of Stock

M&T Bank Corporation (NYSE:MTB) Director Rudina Seseri sold 623 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $241.04, for a total transaction of $150,167.92. Following the transaction, the director owned 3,649 shares in the company, valued at $879,554.96. The trade was a 14.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

M&T Bank Trading Down 0.4%

MTB traded down $0.99 during trading hours on Tuesday, reaching $240.80. 369,520 shares of the company’s stock traded hands, compared to its average volume of 1,138,245. M&T Bank Corporation has a 52-week low of $174.76 and a 52-week high of $255.95. The firm has a market capitalization of $34.78 billion, a PE ratio of 12.70, a PEG ratio of 1.11 and a beta of 0.57. The firm has a 50-day moving average price of $243.51 and a 200 day moving average price of $225.64. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.53.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $5.35 EPS for the quarter, topping analysts’ consensus estimates of $4.66 by $0.69. The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.46 billion. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. During the same period in the prior year, the business posted $4.28 earnings per share. As a group, sell-side analysts predict that M&T Bank Corporation will post 19.43 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.5%. The ex-dividend date is Tuesday, September 1st. M&T Bank’s dividend payout ratio (DPR) is 31.68%.

Analyst Ratings Changes

A number of research analysts have issued reports on MTB shares. Robert W. Baird upped their price target on shares of M&T Bank from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Wall Street Zen upgraded M&T Bank from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. Weiss Ratings reissued a “buy (b)” rating on shares of M&T Bank in a research note on Thursday, June 4th. Wells Fargo & Company lifted their price target on shares of M&T Bank from $215.00 to $224.00 and gave the company an “underweight” rating in a research note on Thursday, July 16th. Finally, Barclays raised their target price on M&T Bank from $236.00 to $267.00 and gave the company an “equal weight” rating in a research report on Thursday, July 16th. Seven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, M&T Bank has a consensus rating of “Hold” and a consensus price target of $253.43.

Institutional Investors Weigh In On M&T Bank

Institutional investors and hedge funds have recently modified their holdings of the company. LSV Asset Management grew its holdings in M&T Bank by 14.5% during the 4th quarter. LSV Asset Management now owns 391,900 shares of the financial services provider’s stock worth $78,960,000 after acquiring an additional 49,500 shares in the last quarter. Adams Diversified Equity Fund Inc. increased its position in shares of M&T Bank by 22.8% during the first quarter. Adams Diversified Equity Fund Inc. now owns 119,900 shares of the financial services provider’s stock worth $24,786,000 after purchasing an additional 22,300 shares in the last quarter. Danske Bank A S purchased a new stake in M&T Bank in the second quarter valued at approximately $34,683,000. Allstate Corp boosted its stake in M&T Bank by 99.4% during the 4th quarter. Allstate Corp now owns 11,242 shares of the financial services provider’s stock worth $2,265,000 after purchasing an additional 5,604 shares during the period. Finally, SG Americas Securities LLC grew its holdings in shares of M&T Bank by 34.8% during the first quarter. SG Americas Securities LLC now owns 85,770 shares of the financial services provider’s stock worth $17,730,000 after buying an additional 22,132 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

About M&T Bank

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid?Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle?market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.