M&T Bank Co. (NYSE:MTB) EVP Michael J. Todaro Sells 4,786 Shares

M&T Bank Co. (NYSE:MTB) EVP Michael J. Todaro sold 4,786 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $214.10, for a total transaction of $1,024,682.60. Following the transaction, the executive vice president now directly owns 2,787 shares in the company, valued at $596,696.70. The trade was a 63.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

M&T Bank Trading Up 0.7 %

MTB stock opened at $214.74 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44. The firm has a market cap of $35.63 billion, a P/E ratio of 15.89, a P/E/G ratio of 2.98 and a beta of 0.74. M&T Bank Co. has a 1-year low of $123.37 and a 1-year high of $216.84. The business’s 50 day moving average is $187.11 and its 200-day moving average is $167.05.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, beating the consensus estimate of $3.60 by $0.48. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.30 billion. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. Equities analysts anticipate that M&T Bank Co. will post 14.56 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.51%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s payout ratio is 39.97%.

Institutional Investors Weigh In On M&T Bank

A number of large investors have recently bought and sold shares of the business. Plato Investment Management Ltd grew its holdings in shares of M&T Bank by 2,300.0% during the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 161 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of M&T Bank in the third quarter worth about $32,000. Hexagon Capital Partners LLC lifted its position in shares of M&T Bank by 54.4% during the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 68 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of M&T Bank by 329.2% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 158 shares during the last quarter. Finally, Oakworth Capital Inc. acquired a new stake in shares of M&T Bank in the second quarter valued at approximately $35,000. 84.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MTB has been the topic of several research analyst reports. Wells Fargo & Company boosted their price target on shares of M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a report on Friday. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. DA Davidson raised their price target on M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. The Goldman Sachs Group boosted their price target on M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Morgan Stanley raised their price objective on shares of M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $199.65.

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.