Insider Selling: M&T Bank Co. (NYSE:MTB) Director Sells 20,000 Shares of 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 Tuesday, October 22nd. The stock was sold at an average price of $193.97, for a total value of $3,879,400.00. Following the completion of the transaction, the director now directly owns 49,960 shares in the company, valued at $9,690,741.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

M&T Bank Stock Performance

M&T Bank stock traded up $0.65 during mid-day trading on Thursday, reaching $194.50. 1,233,890 shares of the stock traded hands, compared to its average volume of 1,041,290. The stock has a market capitalization of $32.45 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 3.27 and a beta of 0.75. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 1.00. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $200.94. The business’s 50-day moving average is $174.96 and its 200-day moving average is $159.94.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend was Tuesday, September 3rd. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

Institutional Trading of M&T Bank

A number of hedge funds have recently bought and sold shares of MTB. Frank Rimerman Advisors LLC grew its holdings in M&T Bank by 1.0% during the third quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider’s stock valued at $1,005,000 after purchasing an additional 57 shares during the period. Hexagon Capital Partners LLC grew its holdings in 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 valued at $34,000 after purchasing an additional 68 shares during the period. Meeder Advisory Services Inc. grew its holdings in M&T Bank by 3.9% during the first quarter. Meeder Advisory Services Inc. now owns 1,879 shares of the financial services provider’s stock valued at $273,000 after purchasing an additional 70 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in M&T Bank by 1.5% during the second quarter. Massmutual Trust Co. FSB ADV now owns 4,711 shares of the financial services provider’s stock valued at $713,000 after purchasing an additional 70 shares during the period. Finally, Umpqua Bank grew its holdings in M&T Bank by 5.3% during the second quarter. Umpqua Bank now owns 1,460 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 73 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on MTB shares. Keefe, Bruyette & Woods lifted their price target on M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Royal Bank of Canada lifted their price target on M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Wells Fargo & Company lifted their price target on M&T Bank from $165.00 to $190.00 and gave the stock an “underweight” rating in a research note on Friday, October 18th. Finally, Wolfe Research raised M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $197.47.

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.