M&T Bank Co. (NYSE:MTB) EVP Michael J. Todaro Sells 4,786 Shares

M&T Bank Co. (NYSE:MTB) EVP Michael J. Todaro sold 4,786 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $214.10, for a total value of $1,024,682.60. Following the completion of the sale, the executive vice president now owns 2,787 shares in the company, valued at $596,696.70. This represents a 63.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

M&T Bank Price Performance

Shares of NYSE MTB traded up $1.34 during midday trading on Thursday, reaching $213.27. 918,914 shares of the company were exchanged, compared to its average volume of 1,048,416. The stock’s 50-day moving average price is $185.26 and its 200-day moving average price is $166.25. The stock has a market cap of $35.39 billion, a P/E ratio of 15.69, a PEG ratio of 3.00 and a beta of 0.74. M&T Bank Co. has a one year low of $123.37 and a one year high of $216.84. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, topping the consensus estimate of $3.60 by $0.48. The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.30 billion. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. On average, sell-side analysts anticipate that M&T Bank Co. will post 14.56 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a $1.35 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a yield of 2.53%. M&T Bank’s dividend payout ratio (DPR) is presently 39.97%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Wedbush increased their price objective on M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Barclays upped their target price on M&T Bank from $170.00 to $228.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Wolfe Research upgraded M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective for the company in a report on Friday, October 4th. JPMorgan Chase & Co. upgraded M&T Bank from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $183.00 to $215.00 in a report on Tuesday, September 3rd. Finally, DA Davidson increased their price objective on M&T Bank from $192.00 to $207.00 and gave the company a “neutral” rating in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, M&T Bank has a consensus rating of “Hold” and a consensus target price of $198.76.

Institutional Investors Weigh In On M&T Bank

A number of hedge funds have recently bought and sold shares of MTB. Ontario Teachers Pension Plan Board increased its position in shares of M&T Bank by 43.1% in the first quarter. Ontario Teachers Pension Plan Board now owns 12,423 shares of the financial services provider’s stock valued at $1,807,000 after buying an additional 3,739 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in M&T Bank during the 3rd quarter worth $44,000. Price T Rowe Associates Inc. MD boosted its stake in M&T Bank by 5.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 331,868 shares of the financial services provider’s stock valued at $48,267,000 after purchasing an additional 18,566 shares during the period. Gateway Investment Advisers LLC lifted its position in shares of M&T Bank by 60.0% in the 2nd quarter. Gateway Investment Advisers LLC now owns 32,799 shares of the financial services provider’s stock worth $4,964,000 after acquiring an additional 12,304 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in M&T Bank by 1.4% during the 3rd quarter. Principal Financial Group Inc. now owns 199,111 shares of the financial services provider’s stock valued at $35,466,000 after purchasing an additional 2,797 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

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.