Key Points
- Insider sale: EVP Christopher Kay sold 5,250 shares on Nov. 26 at an average of $191.70 for a total of $1,006,425, leaving him with 5,501 shares — a 48.83% reduction in his holdings.
- Dividend declared: M&T announced a quarterly dividend of $1.50 per share (annualized $6.00) with an ex-dividend date of Dec. 1 and payment on Dec. 31, implying a ~3.2% yield.
- Market/analyst view: MTB trades near $190 with a P/E of 11.7 and market cap ~$29.3B, and analysts have an average rating of "Moderate Buy" with a $216.08 price target.
M&T Bank Corporation (NYSE:MTB - Get Free Report) EVP Christopher Kay sold 5,250 shares of the firm's stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $191.70, for a total transaction of $1,006,425.00. Following the completion of the transaction, the executive vice president directly owned 5,501 shares of the company's stock, valued at $1,054,541.70. This represents a 48.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
M&T Bank Price Performance
Shares of MTB opened at $190.44 on Tuesday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.49. The company's fifty day simple moving average is $187.30 and its 200 day simple moving average is $190.33. M&T Bank Corporation has a 1-year low of $150.75 and a 1-year high of $219.85. The company has a market cap of $29.27 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 0.87 and a beta of 0.66.
M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings data on Wednesday, March 9th. The financial services provider reported $3.54 EPS for the quarter. The company had revenue of $1.54 billion during the quarter. M&T Bank had a net margin of 20.91% and a return on equity of 10.62%. On average, research analysts forecast that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.
M&T Bank Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors 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 presently 36.95%.
Wall Street Analyst Weigh In
MTB has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of M&T Bank in a research report on Tuesday, November 25th. Truist Financial cut their price target on M&T Bank from $227.00 to $217.00 and set a "buy" rating for the company in a report on Friday, October 17th. Evercore ISI lifted their price objective on shares of M&T Bank from $222.00 to $225.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 30th. Piper Sandler assumed coverage on shares of M&T Bank in a report on Monday, October 6th. They issued an "overweight" rating and a $225.00 price objective on the stock. Finally, TD Cowen raised their target price on shares of M&T Bank from $235.00 to $245.00 and gave the stock a "buy" rating in a research note on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $216.08.
Get Our Latest Analysis on M&T Bank
Institutional Investors Weigh In On M&T Bank
A number of hedge funds and other institutional investors have recently modified their holdings of MTB. Commerzbank Aktiengesellschaft FI boosted its holdings in M&T Bank by 27.3% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 8,111 shares of the financial services provider's stock valued at $1,574,000 after purchasing an additional 1,741 shares during the period. Raymond James Financial Inc. raised its position in shares of M&T Bank by 1.8% in the first quarter. Raymond James Financial Inc. now owns 117,972 shares of the financial services provider's stock valued at $21,088,000 after buying an additional 2,111 shares in the last quarter. Ethic Inc. boosted its stake in shares of M&T Bank by 20.8% in the second quarter. Ethic Inc. now owns 25,741 shares of the financial services provider's stock valued at $4,988,000 after buying an additional 4,432 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in M&T Bank by 3.1% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 463,669 shares of the financial services provider's stock worth $89,947,000 after acquiring an additional 13,749 shares during the period. Finally, Applied Finance Capital Management LLC acquired a new position in M&T Bank in the 2nd quarter valued at $798,000. Institutional investors and hedge funds own 84.68% of the company's stock.
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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