M&T Bank Co. (NYSE:MTB) Director Sells $172,230.00 in Stock

M&T Bank Co. (NYSE:MTB) Director Robert E. Sadler, Jr. sold 1,000 shares of M&T Bank stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total value of $172,230.00. Following the completion of the sale, the director now directly owns 31,796 shares of the company’s stock, valued at $5,476,225.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

M&T Bank Stock Up 0.8 %

Shares of NYSE:MTB opened at $174.90 on Friday. The company has a fifty day moving average of $152.34 and a 200-day moving average of $145.01. The company has a market capitalization of $29.18 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 3.49 and a beta of 0.77. M&T Bank Co. has a 52-week low of $108.53 and a 52-week high of $176.44. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 0.94.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, topping the consensus estimate of $3.50 by $0.23. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. The company had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the prior year, the company posted $5.12 earnings per share. On average, equities analysts predict that M&T Bank Co. will post 14.18 EPS for the current fiscal year.

M&T Bank Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were issued a $1.35 dividend. This is a boost from M&T Bank’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date was Monday, June 3rd. M&T Bank’s dividend payout ratio (DPR) is currently 36.51%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. HHM Wealth Advisors LLC purchased a new position in M&T Bank in the fourth quarter worth $25,000. General Partner Inc. purchased a new position in M&T Bank in the 1st quarter valued at approximately $27,000. Fidelis Capital Partners LLC bought a new stake in shares of M&T Bank during the 1st quarter valued at $30,000. CVA Family Office LLC purchased a new stake in M&T Bank in the 4th quarter worth approximately $33,000. Finally, Planned Solutions Inc. bought a new stake in shares of M&T Bank during the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, July 19th. Bank of America raised their target price on shares of M&T Bank from $160.00 to $188.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. upped their price target on shares of M&T Bank from $180.00 to $183.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. DA Davidson raised their price target on M&T Bank from $159.00 to $185.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Finally, Wedbush restated an “outperform” rating and set a $170.00 price objective on shares of M&T Bank in a report on Wednesday, April 10th. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $170.35.

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.