M&T Bank Co. (NYSE:MTB) Director Kirk W. Walters Sells 16,179 Shares of Stock

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

M&T Bank Stock Down 0.6 %

MTB opened at $148.31 on Wednesday. M&T Bank Co. has a twelve month low of $108.53 and a twelve month high of $150.26. The firm has a market cap of $24.71 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 1.23 and a beta of 0.78. The firm’s 50-day simple moving average is $142.27 and its 200-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 announced its earnings results on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing the consensus estimate of $3.13 by ($0.11). M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. 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 firm earned $4.09 earnings per share. Equities research analysts anticipate that M&T Bank Co. will post 13.92 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were given a dividend of $1.30 per share. The ex-dividend date was Friday, March 1st. This represents a $5.20 annualized dividend and a yield of 3.51%. M&T Bank’s dividend payout ratio (DPR) is 35.16%.

Analysts Set New Price Targets

A number of research analysts have recently commented on MTB shares. DA Davidson reissued a “neutral” rating and set a $159.00 price objective on shares of M&T Bank in a report on Tuesday, April 16th. JPMorgan Chase & Co. boosted their price objective on M&T Bank from $170.00 to $180.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Keefe, Bruyette & Woods upped their price target on M&T Bank from $162.00 to $170.00 and gave the stock a “market perform” rating in a report on Tuesday, April 16th. Jefferies Financial Group dropped their target price on shares of 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. Finally, UBS Group boosted their price objective on shares of M&T Bank from $139.00 to $154.00 in a report on Wednesday, January 17th. 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $158.48.

Hedge Funds Weigh In On M&T Bank

Institutional investors have recently modified their holdings of the stock. Invesco Ltd. boosted its position in M&T Bank by 15.5% in the 3rd quarter. Invesco Ltd. now owns 4,840,950 shares of the financial services provider’s stock valued at $612,138,000 after buying an additional 650,796 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in M&T Bank by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,595,687 shares of the financial services provider’s stock valued at $454,675,000 after acquiring an additional 41,790 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in M&T Bank by 0.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,730,853 shares of the financial services provider’s stock worth $237,265,000 after purchasing an additional 4,419 shares during the period. Norges Bank bought a new stake in M&T Bank during the 4th quarter worth about $232,322,000. Finally, Northern Trust Corp lifted its position in M&T Bank by 3.7% during the 3rd quarter. Northern Trust Corp now owns 1,671,837 shares of the financial services provider’s stock valued at $211,404,000 after purchasing an additional 59,690 shares during the period. 84.68% of the stock is owned by institutional investors.

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.