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 firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total value of $468,210.75. Following the completion of the sale, the executive vice president now directly owns 5,141 shares of the company’s stock, valued at approximately $1,134,875.75. This trade represents a 29.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

M&T Bank Stock Performance

MTB traded up $0.32 on Friday, hitting $221.12. The company had a trading volume of 244,206 shares, compared to its average volume of 1,035,728. The stock has a market cap of $36.69 billion, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 3.11 and a beta of 0.74. 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 company’s fifty day moving average price is $195.64 and its 200 day moving average price is $171.40. M&T Bank Co. has a 1-year low of $125.61 and a 1-year high of $225.70.

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 predict that M&T Bank Co. will post 14.57 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Monday, December 2nd. M&T Bank’s dividend payout ratio is currently 39.97%.

Hedge Funds Weigh In On M&T Bank

Institutional investors have recently made changes to their positions in the business. Plato Investment Management Ltd grew its holdings in M&T Bank by 2,300.0% in the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock valued at $30,000 after buying an additional 161 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of M&T Bank in the third quarter valued at approximately $32,000. Hexagon Capital Partners LLC grew its stake in shares of M&T Bank by 54.4% in the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 68 shares during the last quarter. Oakworth Capital Inc. bought a new position in M&T Bank during the second quarter worth $35,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised its stake in M&T Bank by 329.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 158 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MTB. Citigroup lowered M&T Bank from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $220.00 to $230.00 in a research report on Monday. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. JPMorgan Chase & Co. upgraded shares of M&T Bank from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $183.00 to $215.00 in a research note on Tuesday, September 3rd. Royal Bank of Canada lifted their target price on shares of M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Finally, Wolfe Research raised shares of 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, eight have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, M&T Bank presently has an average rating of “Hold” and a consensus price target of $206.41.

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.