Insider Selling: M&T Bank Co. (NYSE:MTB) Director Sells 7,464 Shares of Stock

M&T Bank Co. (NYSE:MTB) Director Kirk W. Walters sold 7,464 shares of M&T Bank stock in a transaction on Friday, July 26th. The shares were sold at an average price of $173.97, for a total value of $1,298,512.08. Following the completion of the transaction, the director now owns 15,045 shares of the company’s stock, valued at $2,617,378.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

M&T Bank Stock Performance

Shares of NYSE MTB traded up $1.36 during midday trading on Tuesday, reaching $173.54. 793,190 shares of the company were exchanged, compared to its average volume of 1,044,316. M&T Bank Co. has a 1 year low of $108.53 and a 1 year high of $176.44. The stock has a fifty day simple moving average of $152.73 and a 200 day simple moving average of $145.33. The stock has a market cap of $28.96 billion, a P/E ratio of 11.77, a PEG ratio of 3.52 and a beta of 0.77. 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 quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. The company had revenue of $3.37 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the previous year, the company earned $5.12 EPS. On average, research analysts forecast that M&T Bank Co. will post 14.18 earnings per share for the current fiscal year.

M&T Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date was Monday, June 3rd. This is a positive change from M&T Bank’s previous quarterly dividend of $1.30. M&T Bank’s payout ratio is currently 36.51%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Piper Sandler raised their price target on M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Bank of America raised their price target on M&T Bank from $160.00 to $188.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Citigroup raised their price target on M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Wedbush restated an “outperform” rating and issued a $170.00 price target on shares of M&T Bank in a research note on Wednesday, April 10th. Finally, Keefe, Bruyette & Woods raised their price target on M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a research note on Friday, July 19th. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $170.35.

Institutional Investors Weigh In On M&T Bank

Institutional investors have recently added to or reduced their stakes in the business. HHM Wealth Advisors LLC purchased a new stake in M&T Bank in the 4th quarter valued at approximately $25,000. General Partner Inc. purchased a new stake in shares of M&T Bank during the 1st quarter worth approximately $27,000. Fidelis Capital Partners LLC purchased a new stake in shares of M&T Bank during the 1st quarter worth approximately $30,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of M&T Bank during the 4th quarter worth approximately $34,000. Finally, Principal Securities Inc. purchased a new stake in shares of M&T Bank during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors 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.