Doris P. Meister Sells 1,000 Shares of M&T Bank Co. (NYSE:MTB) Stock

M&T Bank Co. (NYSE:MTB) EVP Doris P. Meister sold 1,000 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $110.58, for a total value of $110,580.00. Following the completion of the sale, the executive vice president now owns 6,055 shares of the company’s stock, valued at approximately $669,561.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

M&T Bank Price Performance

Shares of M&T Bank stock opened at $118.45 on Friday. The stock has a 50 day moving average of $122.32 and a 200 day moving average of $125.08. M&T Bank Co. has a 12 month low of $108.53 and a 12 month high of $172.59. The firm has a market cap of $19.66 billion, a PE ratio of 6.83, a PEG ratio of 0.77 and a beta of 0.84. The company has a current ratio of 0.92, a quick ratio of 0.97 and a debt-to-equity ratio of 0.29.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $3.98 EPS for the quarter, beating analysts’ consensus estimates of $3.88 by $0.10. M&T Bank had a return on equity of 13.14% and a net margin of 24.81%. The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same period in the prior year, the company earned $3.83 earnings per share. On average, research analysts expect that M&T Bank Co. will post 15.95 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 1st were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.39%. The ex-dividend date of this dividend was Thursday, August 31st. M&T Bank’s payout ratio is 30.01%.

Institutional Investors Weigh In On M&T Bank

Several institutional investors have recently modified their holdings of MTB. Wellington Management Group LLP lifted its stake in shares of M&T Bank by 35.2% in the 1st quarter. Wellington Management Group LLP now owns 15,153,301 shares of the financial services provider’s stock valued at $1,811,880,000 after purchasing an additional 3,945,773 shares during the last quarter. Norges Bank bought a new stake in shares of M&T Bank in the 4th quarter valued at approximately $231,022,000. Morgan Stanley lifted its stake in shares of M&T Bank by 71.6% in the 4th quarter. Morgan Stanley now owns 2,986,977 shares of the financial services provider’s stock valued at $433,291,000 after purchasing an additional 1,246,265 shares during the last quarter. M&T Bank Corp lifted its stake in shares of M&T Bank by 77.0% during the 1st quarter. M&T Bank Corp now owns 1,778,136 shares of the financial services provider’s stock worth $212,612,000 after acquiring an additional 773,810 shares during the last quarter. Finally, LSV Asset Management lifted its stake in shares of M&T Bank by 1,865.8% during the 2nd quarter. LSV Asset Management now owns 678,196 shares of the financial services provider’s stock worth $83,934,000 after acquiring an additional 643,696 shares during the last quarter. 82.86% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MTB has been the subject of a number of analyst reports. Jefferies Financial Group reduced their price target on M&T Bank from $136.00 to $130.00 in a research report on Tuesday, October 10th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, October 27th. Odeon Capital Group cut M&T Bank from a “buy” rating to a “hold” rating and set a $133.65 price target for the company. in a research report on Friday, September 29th. Wedbush cut their target price on M&T Bank from $147.00 to $140.00 and set an “outperform” rating for the company in a research report on Thursday, October 19th. Finally, Bank of America cut their target price on M&T Bank from $142.00 to $141.00 in a research report on Tuesday, October 10th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $148.62.

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 offer retail and commercial banking products and services in the United States. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals.