John P. Barnes Sells 20,000 Shares of M&T Bank Co. (NYSE:MTB) Stock

M&T Bank Co. (NYSE:MTB) Director John P. Barnes sold 20,000 shares of M&T Bank stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $217.45, for a total transaction of $4,349,000.00. Following the completion of the transaction, the director now directly owns 35,480 shares in the company, valued at approximately $7,715,126. The trade was a 36.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

M&T Bank Trading Up 0.0 %

Shares of M&T Bank stock opened at $220.80 on Thursday. M&T Bank Co. has a 1 year low of $123.46 and a 1 year high of $225.70. The company has a market capitalization of $36.64 billion, a price-to-earnings ratio of 16.34, a P/E/G ratio of 3.13 and a beta of 0.74. The business has a fifty day simple moving average of $194.82 and a two-hundred day simple moving average of $171.05. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, topping the consensus estimate of $3.60 by $0.48. The business had revenue of $2.33 billion during 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%. Research analysts forecast that M&T Bank Co. will post 14.56 EPS for the current year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date is Monday, December 2nd. M&T Bank’s dividend payout ratio is 39.97%.

Wall Street Analysts Forecast Growth

MTB has been the topic of several research reports. Barclays boosted their price objective on shares of M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Piper Sandler increased their price objective on M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a report on Wednesday. Morgan Stanley boosted their target price on M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Citigroup cut shares of M&T Bank from a “buy” rating to a “neutral” rating and raised their price target for the stock from $220.00 to $230.00 in a research note on Monday. Finally, Bank of America boosted their price objective on shares of M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $206.41.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of M&T Bank by 13.9% in the third quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock valued at $2,199,675,000 after acquiring an additional 1,508,846 shares in the last quarter. State Street Corp boosted its holdings in M&T Bank by 6.4% in the 3rd quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock valued at $1,562,725,000 after purchasing an additional 527,854 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of M&T Bank by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock worth $897,216,000 after purchasing an additional 190,837 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of M&T Bank by 1.6% during the third quarter. Geode Capital Management LLC now owns 4,329,814 shares of the financial services provider’s stock worth $768,824,000 after purchasing an additional 66,337 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in shares of M&T Bank by 4.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock valued at $269,696,000 after buying an additional 81,004 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

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.