M&T Bank Co. (NYSE:MTB) Vice Chairman Gary N. Geisel Sells 500 Shares

M&T Bank Co. (NYSE:MTB) Vice Chairman Gary N. Geisel sold 500 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total value of $86,250.00. Following the completion of the transaction, the insider now owns 16,429 shares of the company’s stock, valued at $2,834,002.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

M&T Bank Stock Up 0.8 %

Shares of NYSE MTB opened at $174.90 on Friday. The stock has a fifty day moving average price of $152.34 and a 200 day moving average price of $145.01. The company has a market cap of $29.18 billion, a P/E ratio of 11.83, a P/E/G ratio of 3.49 and a beta of 0.77. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $176.44. The company has a current ratio of 0.94, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, beating the consensus estimate of $3.50 by $0.23. The business had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $2.27 billion. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. During the same period last year, the business posted $5.12 EPS. Research analysts anticipate 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. Stockholders of record on Monday, June 3rd were paid a $1.35 dividend. The ex-dividend date was Monday, June 3rd. This is an increase from M&T Bank’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 3.09%. M&T Bank’s dividend payout ratio is 36.51%.

Institutional Investors Weigh In On M&T Bank

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

Analyst Upgrades and Downgrades

Several research firms recently commented on MTB. Wedbush reiterated an “outperform” rating and issued a $170.00 target price on shares of M&T Bank in a research note on Wednesday, April 10th. Royal Bank of Canada increased their price objective on shares of M&T Bank from $160.00 to $174.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Citigroup boosted their target price on shares of M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a report on Friday, July 19th. Evercore ISI upped their price target on shares of M&T Bank from $157.00 to $168.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 25th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $170.35.

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.