Traders Sell M&T Bank Corporation (MTB) on Strength (MTB)

Investors sold shares of M&T Bank Corporation (NYSE:MTB) on strength during trading hours on Wednesday. $18.46 million flowed into the stock on the tick-up and $36.63 million flowed out of the stock on the tick-down, for a money net flow of $18.17 million out of the stock. Of all stocks tracked, M&T Bank Corporation had the 0th highest net out-flow for the day. M&T Bank Corporation traded up $0.05 for the day and closed at $165.80

MTB has been the subject of a number of recent research reports. Nomura boosted their target price on shares of M&T Bank Corporation from $145.00 to $162.00 and gave the company a “neutral” rating in a research report on Monday. Instinet reissued a “neutral” rating and issued a $144.00 target price on shares of M&T Bank Corporation in a research report on Wednesday, July 12th. BidaskClub raised shares of M&T Bank Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Jefferies Group LLC raised shares of M&T Bank Corporation from a “hold” rating to a “buy” rating and boosted their target price for the company from $174.00 to $186.00 in a research report on Tuesday, July 11th. Finally, Zacks Investment Research cut shares of M&T Bank Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Five analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company. M&T Bank Corporation currently has an average rating of “Hold” and an average price target of $161.89.

The company has a 50-day moving average of $157.41 and a 200 day moving average of $158.31. The firm has a market capitalization of $25.37 billion, a PE ratio of 19.55 and a beta of 0.78.

M&T Bank Corporation (NYSE:MTB) last issued its quarterly earnings results on Wednesday, October 18th. The bank reported $2.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.40 by ($0.19). The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.43 billion. M&T Bank Corporation had a net margin of 23.97% and a return on equity of 9.52%. During the same quarter last year, the business posted $2.10 EPS. On average, analysts forecast that M&T Bank Corporation will post $9.09 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 1st were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.79%. M&T Bank Corporation’s dividend payout ratio (DPR) is presently 34.64%.

In other news, insider Sabeth Siddique sold 950 shares of M&T Bank Corporation stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $147.17, for a total transaction of $139,811.50. Following the completion of the sale, the insider now owns 1,488 shares in the company, valued at approximately $218,988.96. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Michele D. Trolli sold 8,908 shares of M&T Bank Corporation stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $164.25, for a total value of $1,463,139.00. Following the sale, the vice president now owns 23,091 shares of the company’s stock, valued at approximately $3,792,696.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,058 shares of company stock valued at $1,799,055. Corporate insiders own 3.18% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Capital Research Global Investors boosted its position in shares of M&T Bank Corporation by 5.7% during the 2nd quarter. Capital Research Global Investors now owns 5,620,509 shares of the bank’s stock valued at $910,241,000 after acquiring an additional 302,511 shares during the last quarter. Capital World Investors boosted its position in shares of M&T Bank Corporation by 5.1% during the 2nd quarter. Capital World Investors now owns 4,129,000 shares of the bank’s stock valued at $668,692,000 after acquiring an additional 200,000 shares during the last quarter. Aristotle Capital Management LLC boosted its position in shares of M&T Bank Corporation by 1.4% during the 1st quarter. Aristotle Capital Management LLC now owns 1,405,059 shares of the bank’s stock valued at $217,405,000 after acquiring an additional 19,223 shares during the last quarter. Teachers Advisors LLC boosted its position in shares of M&T Bank Corporation by 0.9% during the 1st quarter. Teachers Advisors LLC now owns 479,968 shares of the bank’s stock valued at $74,265,000 after acquiring an additional 4,335 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of M&T Bank Corporation by 0.4% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 476,172 shares of the bank’s stock valued at $77,116,000 after acquiring an additional 2,097 shares during the last quarter. Hedge funds and other institutional investors own 78.37% of the company’s stock.

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M&T Bank Corporation Company Profile

M&T Bank Corporation (M&T) is a bank holding company. As of December 31, 2016, M&T had two bank subsidiaries: Manufacturers and Traders Trust Company (M&T Bank) and Wilmington Trust, National Association (Wilmington Trust, N.A.). The Company, along with its subsidiaries, offers a range of retail and commercial banking, trust and wealth management, and investment services.

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