M&T Bank Co. (NYSE:MTB - Get Free Report) EVP Doris P. Meister sold 1,638 shares of the firm'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 sale, 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 document filed with the Securities & Exchange Commission, which is available at this link.
M&T Bank Trading Up 2.9 %
Shares of NYSE MTB opened at $143.38 on Friday. The company's fifty day moving average is $139.96 and its 200-day moving average is $132.96. The stock has a market cap of $23.89 billion, a price-to-earnings ratio of 9.69, a P/E/G ratio of 1.16 and a beta of 0.80. M&T Bank Co. has a twelve month low of $108.53 and a twelve month high of $148.23. 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 (NYSE:MTB - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the business earned $4.09 earnings per share. Equities research analysts predict that M&T Bank Co. will post 13.95 EPS for the current year.
M&T Bank Announces Dividend
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The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were paid 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 payout ratio is currently 35.16%.
Institutional Investors Weigh In On M&T Bank
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MTB. Virtu Financial LLC increased its stake in M&T Bank by 17,405.3% in the 1st quarter. Virtu Financial LLC now owns 5,273,474 shares of the financial services provider's stock valued at $105,417,000 after buying an additional 5,243,349 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in 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 buying an additional 2,645,478 shares during the last quarter. Spring Creek Capital LLC increased its stake in M&T Bank by 217.0% in the 1st quarter. Spring Creek Capital LLC now owns 3,339,643 shares of the financial services provider's stock valued at $66,759,000 after buying an additional 2,286,251 shares during the last quarter. Norges Bank acquired a new stake in M&T Bank in the 4th quarter valued at $232,322,000. Finally, Goldman Sachs Group Inc. increased its stake in M&T Bank by 76.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,560,334 shares of the financial services provider's stock valued at $71,171,000 after buying an additional 1,538,436 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms have recently commented on MTB. Wells Fargo & Company increased their price target on shares of M&T Bank from $145.00 to $150.00 and gave the company an "equal weight" rating in a research note on Tuesday. UBS Group increased their price target on shares of M&T Bank from $139.00 to $154.00 in a research note on Wednesday, January 17th. Wedbush reissued an "outperform" rating and set a $170.00 price target on shares of M&T Bank in a research note on Wednesday, April 10th. Keefe, Bruyette & Woods raised 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 note on Tuesday. Finally, Bank of America raised their price objective on shares of M&T Bank from $157.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, M&T Bank currently has a consensus rating of "Hold" and a consensus price target of $158.48.
Check Out Our Latest Research Report on MTB
About M&T Bank
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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.
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