Christopher Kay Sells 5,250 Shares of M&T Bank (NYSE:MTB) Stock

M&T Bank Corporation (NYSE:MTB) EVP Christopher Kay sold 5,250 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $191.70, for a total transaction of $1,006,425.00. Following the completion of the sale, the executive vice president directly owned 5,501 shares of the company’s stock, valued at approximately $1,054,541.70. The trade was a 48.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

M&T Bank Trading Up 0.3%

MTB opened at $190.85 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.97 and a current ratio of 0.97. The stock’s 50 day moving average price is $187.11 and its 200-day moving average price is $190.35. M&T Bank Corporation has a one year low of $150.75 and a one year high of $216.95. The stock has a market cap of $29.33 billion, a price-to-earnings ratio of 11.75, a P/E/G ratio of 0.87 and a beta of 0.66.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share (EPS) for the quarter. The firm had revenue of $1.54 billion during the quarter. M&T Bank had a return on equity of 10.62% and a net margin of 20.91%. On average, equities analysts forecast that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, December 1st. M&T Bank’s payout ratio is currently 36.95%.

Hedge Funds Weigh In On M&T Bank

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wealth Preservation Advisors LLC bought a new position in M&T Bank in the first quarter worth approximately $25,000. WPG Advisers LLC bought a new position in shares of M&T Bank in the 1st quarter worth $25,000. Bank of Jackson Hole Trust lifted its stake in shares of M&T Bank by 342.9% during the 3rd quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 120 shares during the last quarter. Triumph Capital Management bought a new stake in M&T Bank during the third quarter valued at about $32,000. Finally, Golden State Wealth Management LLC grew its stake in M&T Bank by 2,214.3% in the second quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 155 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Cowen reaffirmed a “buy” rating on shares of M&T Bank in a research note on Monday, October 20th. Weiss Ratings restated a “buy (b-)” rating on shares of M&T Bank in a research note on Monday. TD Cowen lifted their price target on shares of M&T Bank from $235.00 to $245.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Cantor Fitzgerald began coverage on M&T Bank in a report on Wednesday, September 10th. They issued an “overweight” rating and a $228.00 price target for the company. Finally, Jefferies Financial Group increased their price objective on M&T Bank from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $216.08.

M&T Bank Company Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.