Doris P. Meister Sells 3,362 Shares of M&T Bank Co. (NYSE:MTB) Stock

M&T Bank Co. (NYSE:MTB) EVP Doris P. Meister sold 3,362 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $147.27, for a total value of $495,121.74. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

M&T Bank Price Performance

Shares of M&T Bank stock opened at $148.31 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $150.26. The stock’s 50-day simple moving average is $142.27 and its 200-day simple moving average is $135.15. The company has a market capitalization of $24.71 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 1.23 and a beta of 0.78.

M&T Bank (NYSE:MTB) last posted its quarterly 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). M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The business had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the prior year, the firm posted $4.09 earnings per share. As a group, analysts expect that M&T Bank Co. will post 13.92 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors 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 annualized dividend and a yield of 3.51%. M&T Bank’s payout ratio is 35.16%.

Institutional Trading of M&T Bank

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GSA Capital Partners LLP bought a new position in shares of M&T Bank during the 3rd quarter valued at approximately $833,000. Tokio Marine Asset Management Co. Ltd. increased its position in M&T Bank by 8.3% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,985 shares of the financial services provider’s stock worth $504,000 after purchasing an additional 305 shares during the last quarter. NBC Securities Inc. purchased a new stake in M&T Bank during the third quarter valued at $299,000. Stevens Capital Management LP bought a new position in M&T Bank during the fourth quarter valued at $320,000. Finally, Metis Global Partners LLC grew its stake in shares of M&T Bank by 15.2% in the 3rd quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider’s stock worth $893,000 after buying an additional 931 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $160.00 price objective on shares of M&T Bank in a research report on Tuesday, April 16th. Morgan Stanley increased their price objective on shares of M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. UBS Group boosted their target price on shares of M&T Bank from $139.00 to $154.00 in a research report on Wednesday, January 17th. Wedbush reiterated an “outperform” rating and issued a $170.00 price target on shares of M&T Bank in a research report on Wednesday, April 10th. Finally, Keefe, Bruyette & Woods boosted their price objective 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, April 16th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $158.48.

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.