Key Points
- Director Robert Sadler Jr. sold 6,000 shares of M&T Bank on Nov. 25 at an average price of $190.06 for a total of $1,140,360, reducing his stake by 26.01% to 17,070 shares (≈$3.24M).
- M&T declared a quarterly dividend of $1.50 per share (ex-dividend Dec. 1, payable Dec. 31), equal to $6.00 annually and a yield of about 3.2%.
- Analysts have an average rating of "Moderate Buy" on MTB with an average price target of roughly $216.36, while the stock trades near $190 and has a PE of ~11.7.
M&T Bank Corporation (NYSE:MTB - Get Free Report) Director Robert Sadler, Jr. sold 6,000 shares of M&T Bank stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $190.06, for a total transaction of $1,140,360.00. Following the sale, the director owned 17,070 shares of the company's stock, valued at approximately $3,244,324.20. This represents a 26.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
M&T Bank Price Performance
Shares of MTB stock opened at $190.40 on Thursday. The firm's 50 day moving average price is $187.91 and its two-hundred day moving average price is $190.21. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.97 and a current ratio of 0.97. M&T Bank Corporation has a 52-week low of $150.75 and a 52-week high of $224.23. The stock has a market cap of $29.26 billion, a PE ratio of 11.72, a PEG ratio of 0.87 and a beta of 0.66.
M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings results on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share for the quarter. M&T Bank had a return on equity of 10.62% and a net margin of 20.91%.The company had revenue of $1.54 billion for the quarter. As a group, 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. Shareholders of record on Monday, December 1st will be issued a dividend of $1.50 per share. The ex-dividend date is Monday, December 1st. This represents a $6.00 dividend on an annualized basis and a yield of 3.2%. M&T Bank's dividend payout ratio (DPR) is 36.95%.
Analyst Ratings Changes
A number of analysts have recently commented on MTB shares. UBS Group upped their price target on M&T Bank from $207.00 to $208.00 and gave the company a "neutral" rating in a research note on Tuesday, October 7th. Piper Sandler initiated coverage on shares of M&T Bank in a research note on Monday, October 6th. They issued an "overweight" rating and a $225.00 target price for the company. Cowen reiterated a "buy" rating on shares of M&T Bank in a report on Monday, October 20th. Truist Financial decreased their price target on shares of M&T Bank from $227.00 to $217.00 and set a "buy" rating for the company in a report on Friday, October 17th. Finally, Jefferies Financial Group raised their price objective on M&T Bank from $220.00 to $240.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, M&T Bank currently has an average rating of "Moderate Buy" and an average target price of $216.36.
Get Our Latest Stock Analysis on M&T Bank
Institutional Investors Weigh In On M&T Bank
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its stake in shares of M&T Bank by 33.1% during the 1st quarter. Wellington Management Group LLP now owns 9,894,065 shares of the financial services provider's stock worth $1,768,564,000 after buying an additional 2,460,315 shares during the last quarter. Nuveen LLC bought a new stake in M&T Bank during the first quarter worth about $243,451,000. Invesco Ltd. boosted its position in M&T Bank by 15.2% during the first quarter. Invesco Ltd. now owns 3,552,666 shares of the financial services provider's stock valued at $635,039,000 after purchasing an additional 468,758 shares during the last quarter. Canoe Financial LP grew its stake in M&T Bank by 24,443.7% in the second quarter. Canoe Financial LP now owns 295,506 shares of the financial services provider's stock valued at $57,325,000 after purchasing an additional 294,302 shares in the last quarter. Finally, Brandywine Global Investment Management LLC increased its position in shares of M&T Bank by 390.5% during the 1st quarter. Brandywine Global Investment Management LLC now owns 349,506 shares of the financial services provider's stock worth $62,474,000 after purchasing an additional 278,246 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.
M&T Bank Company Profile
(
Get Free Report)
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.
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