Robert E. Sadler, Jr. Sells 2,000 Shares of M&T Bank Co. (NYSE:MTB) Stock

M&T Bank Co. (NYSE:MTB) Director Robert E. Sadler, Jr. sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $198.00, for a total transaction of $396,000.00. Following the completion of the sale, the director now directly owns 29,796 shares of the company’s stock, valued at $5,899,608. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

M&T Bank Price Performance

NYSE:MTB opened at $192.25 on Friday. M&T Bank Co. has a 52-week low of $112.60 and a 52-week high of $200.94. The company has a market cap of $32.08 billion, a P/E ratio of 14.23, a P/E/G ratio of 2.76 and a beta of 0.74. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 0.94. The stock’s 50-day simple moving average is $179.30 and its 200 day simple moving average is $162.74.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s dividend payout ratio is currently 39.97%.

Analyst Ratings Changes

A number of analysts recently commented on MTB shares. Citigroup upped their price objective on shares of M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Royal Bank of Canada increased their price target on M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Piper Sandler lifted their price objective on M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Wells Fargo & Company boosted their price objective on M&T Bank from $165.00 to $190.00 and gave the company an “underweight” rating in a research report on Friday, October 18th. Finally, Keefe, Bruyette & Woods raised their target price on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $198.76.

Hedge Funds Weigh In On M&T Bank

Several hedge funds and other institutional investors have recently made changes to their positions in MTB. Hexagon Capital Partners LLC lifted its stake in M&T Bank by 54.4% in the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 68 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of M&T Bank in the 1st quarter valued at about $30,000. Oakworth Capital Inc. acquired a new stake in M&T Bank in the 2nd quarter valued at about $35,000. Capital Performance Advisors LLP acquired a new stake in M&T Bank in the 3rd quarter valued at about $44,000. Finally, nVerses Capital LLC bought a new position in M&T Bank during the third quarter worth about $53,000. 84.68% of the stock is owned by institutional investors.

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.