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 business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total transaction of $226,387.98. Following the completion of the transaction, the executive vice president now directly owns 3,362 shares of the company’s stock, valued at approximately $464,662.02. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

M&T Bank Stock Up 2.9 %

Shares of NYSE:MTB opened at $143.38 on Friday. The stock’s 50-day moving average is $139.96 and its 200 day moving average is $133.05. The company has a market cap of $23.89 billion, a PE ratio of 9.69, a P/E/G ratio of 1.16 and a beta of 0.80. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99. M&T Bank Co. has a 1 year low of $108.53 and a 1 year high of $148.23.

M&T Bank (NYSE:MTB) last posted its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11). The business had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same period last year, the firm posted $4.09 earnings per share. Sell-side analysts anticipate that M&T Bank Co. will post 13.95 EPS for the current year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were issued a $1.30 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 annualized dividend and a yield of 3.63%. M&T Bank’s dividend payout ratio (DPR) is presently 35.16%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Wedbush reiterated an “outperform” rating and issued a $170.00 target price on shares of M&T Bank in a research report on Wednesday, April 10th. Barclays increased their price objective on 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. Evercore ISI boosted their target price on M&T Bank from $146.00 to $157.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. JPMorgan Chase & Co. upped their target price on M&T Bank from $170.00 to $180.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Finally, UBS Group lifted their price target on shares of M&T Bank from $139.00 to $154.00 in a research note on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $158.48.

Institutional Investors Weigh In On M&T Bank

Several institutional investors and hedge funds have recently modified their holdings of the stock. Virtu Financial LLC raised its stake in M&T Bank by 17,405.3% in the first quarter. Virtu Financial LLC now owns 5,273,474 shares of the financial services provider’s stock worth $105,417,000 after buying an additional 5,243,349 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of M&T Bank by 113.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 313,302 shares of the financial services provider’s stock valued at $42,949,000 after purchasing an additional 2,645,478 shares during the period. Spring Creek Capital LLC boosted its position in shares of M&T Bank by 217.0% during the first quarter. Spring Creek Capital LLC now owns 3,339,643 shares of the financial services provider’s stock valued at $66,759,000 after purchasing an additional 2,286,251 shares in the last quarter. Norges Bank purchased a new stake in M&T Bank in the fourth quarter worth $232,322,000. Finally, Goldman Sachs Group Inc. grew its stake in M&T Bank by 76.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,560,334 shares of the financial services provider’s stock worth $71,171,000 after purchasing an additional 1,538,436 shares during the period. 84.68% of the stock is owned by hedge funds and other 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.