M&T Bank Co. (NYSE:MTB) EVP Doris P. Meister Sells 1,638 Shares

M&T Bank Co. (NYSE:MTB) EVP Doris P. Meister sold 1,638 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $138.21, for a total transaction of $226,387.98. Following the sale, the executive vice president now owns 3,362 shares in the company, valued at $464,662.02. The sale was disclosed in a filing with the SEC, which is available at this link.

M&T Bank Trading Up 2.9 %

MTB stock traded up $4.08 during mid-day trading on Friday, reaching $143.38. The company had a trading volume of 1,525,218 shares, compared to its average volume of 1,215,371. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99. The company has a market capitalization of $23.89 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 1.16 and a beta of 0.80. The firm has a 50 day moving average of $139.76 and a 200 day moving average of $132.81. M&T Bank Co. has a 12 month low of $108.53 and a 12 month high of $148.23.

M&T Bank (NYSE:MTB) last issued its earnings results on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same quarter in the prior year, the company earned $4.09 earnings per share. On average, equities analysts predict that M&T Bank Co. will post 13.95 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were paid a dividend of $1.30 per share. The ex-dividend date was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.63%. M&T Bank’s dividend payout ratio is presently 35.16%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Keefe, Bruyette & Woods upped their target price on shares of M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a research report on Tuesday. UBS Group upped their target price on shares of M&T Bank from $139.00 to $154.00 in a research report on Wednesday, January 17th. Barclays upped their target price on shares of M&T Bank from $150.00 to $170.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Bank of America upped their target price on shares of M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Wedbush reissued an “outperform” rating and issued a $170.00 price objective on shares of M&T Bank in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, M&T Bank currently has an average rating of “Hold” and an average price target of $158.48.

Hedge Funds Weigh In On M&T Bank

Hedge funds and other institutional investors have recently modified their holdings of the business. HHM Wealth Advisors LLC bought a new position in shares of M&T Bank during the fourth quarter valued at approximately $25,000. Clear Street Markets LLC bought a new position in shares of M&T Bank during the fourth quarter valued at approximately $25,000. RVW Wealth LLC acquired a new stake in M&T Bank in the third quarter valued at approximately $27,000. General Partner Inc. acquired a new stake in M&T Bank in the first quarter valued at approximately $27,000. Finally, Quarry LP acquired a new stake in M&T Bank in the first quarter valued at approximately $27,000. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Company Profile

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.