M&T Bank Co. (NYSE:MTB) insider Sabeth Siddique sold 930 shares of the firm’s stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $164.80, for a total value of $153,264.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of M&T Bank stock opened at $164.18 on Friday. M&T Bank Co. has a one year low of $154.33 and a one year high of $197.37. The company has a market cap of $23.61 billion, a P/E ratio of 13.19, a P/E/G ratio of 1.04 and a beta of 0.86. The company has a current ratio of 1.01, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64.
M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Wednesday, October 17th. The financial services provider reported $3.53 EPS for the quarter, topping the Zacks’ consensus estimate of $3.35 by $0.18. M&T Bank had a return on equity of 13.15% and a net margin of 26.84%. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the business posted $2.21 earnings per share. On average, research analysts predict that M&T Bank Co. will post 13.04 earnings per share for the current year.
Institutional investors have recently made changes to their positions in the stock. LPL Financial LLC raised its position in M&T Bank by 3.6% in the first quarter. LPL Financial LLC now owns 8,392 shares of the financial services provider’s stock valued at $1,547,000 after purchasing an additional 293 shares during the period. Cerebellum GP LLC purchased a new stake in M&T Bank in the second quarter valued at $171,000. Gulf International Bank UK Ltd raised its position in M&T Bank by 2.7% in the second quarter. Gulf International Bank UK Ltd now owns 44,960 shares of the financial services provider’s stock valued at $7,649,000 after purchasing an additional 1,190 shares during the period. IFM Investors Pty Ltd raised its position in M&T Bank by 45.8% in the second quarter. IFM Investors Pty Ltd now owns 6,252 shares of the financial services provider’s stock valued at $1,064,000 after purchasing an additional 1,963 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in M&T Bank by 23.7% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,608 shares of the financial services provider’s stock valued at $444,000 after purchasing an additional 500 shares during the period. Hedge funds and other institutional investors own 80.67% of the company’s stock.
Several equities analysts have recently weighed in on MTB shares. Evercore ISI upgraded M&T Bank from an “in-line” rating to an “outperform” rating in a research report on Monday, October 1st. They noted that the move was a valuation call. Zacks Investment Research downgraded M&T Bank from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th. Robert W. Baird upgraded M&T Bank from a “neutral” rating to an “outperform” rating in a research report on Tuesday, October 23rd. Goldman Sachs Group upgraded M&T Bank from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 26th. Finally, Wedbush set a $188.00 price objective on M&T Bank and gave the stock a “hold” rating in a research report on Thursday, October 18th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $184.36.
M&T Bank Company Profile
M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide retail and commercial banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals.
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