Insider Selling: M&T Bank Co. (NYSE:MTB) EVP Sells 2,121 Shares of Stock

M&T Bank Co. (NYSE:MTB) EVP Tracy S. Woodrow sold 2,121 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total transaction of $468,210.75. Following the sale, the executive vice president now owns 5,141 shares of the company’s stock, valued at $1,134,875.75. This trade represents a 29.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

M&T Bank Trading Down 0.4 %

Shares of MTB opened at $219.99 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a 50 day simple moving average of $196.45 and a 200-day simple moving average of $172.10. M&T Bank Co. has a 1-year low of $125.61 and a 1-year high of $225.70. The stock has a market cap of $36.50 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 3.10 and a beta of 0.74.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Equities analysts forecast that M&T Bank Co. will post 14.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.45%. M&T Bank’s dividend payout ratio (DPR) is currently 39.97%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Wedbush increased their price target on shares of M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Bank of America increased their price target on shares of M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Evercore ISI increased their price target on shares of M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley increased their price target on shares of M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $206.41.

Institutional Trading of M&T Bank

A number of hedge funds have recently bought and sold shares of the company. FMR LLC boosted its position in M&T Bank by 13.9% during the third quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock worth $2,199,675,000 after acquiring an additional 1,508,846 shares during the last quarter. State Street Corp boosted its position in M&T Bank by 6.4% during the third quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock worth $1,562,725,000 after acquiring an additional 527,854 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in M&T Bank by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock worth $897,216,000 after acquiring an additional 190,837 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of M&T Bank by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,329,814 shares of the financial services provider’s stock valued at $768,824,000 after purchasing an additional 66,337 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of M&T Bank by 4.8% in the 2nd 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 purchasing an additional 81,004 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

About M&T Bank

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.