Key Points
- John Barnes, an M&T director, sold 21,193 shares on Feb. 9 at an average of $235.85 for a total of $4,998,369.05, reducing his holdings by 58.33% to 15,142 shares (disclosed in an SEC filing).
- M&T Bank beat quarterly estimates with $4.72 EPS (vs. $4.47 expected), pays a $1.50 quarterly dividend (annualized $6.00, 2.6% yield), and the stock trades near its 52‑week high with a market cap of about $36 billion and a consensus "Hold" target of $228.50.
M&T Bank Corporation (NYSE:MTB - Get Free Report) Director John Barnes sold 21,193 shares of the company's stock in a transaction on Monday, February 9th. The shares were sold at an average price of $235.85, for a total value of $4,998,369.05. Following the completion of the sale, the director directly owned 15,142 shares in the company, valued at $3,571,240.70. This trade represents a 58.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
M&T Bank Trading Down 0.6%
NYSE:MTB opened at $234.71 on Thursday. M&T Bank Corporation has a 52-week low of $150.75 and a 52-week high of $239.00. The company has a quick ratio of 0.97, a current ratio of 0.90 and a debt-to-equity ratio of 0.41. The stock has a fifty day simple moving average of $212.28 and a 200-day simple moving average of $198.34. The company has a market capitalization of $36.07 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 1.04 and a beta of 0.60.
M&T Bank (NYSE:MTB - Get Free Report) last posted its earnings results on Friday, January 16th. The financial services provider reported $4.72 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.25. The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.47 billion. M&T Bank had a net margin of 21.55% and a return on equity of 10.94%. During the same period last year, the firm posted $3.77 EPS. On average, equities research analysts expect that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.
M&T Bank Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 1st were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Monday, December 1st. M&T Bank's payout ratio is currently 35.19%.
Analyst Upgrades and Downgrades
A number of brokerages have commented on MTB. Royal Bank Of Canada increased their target price on M&T Bank from $210.00 to $220.00 and gave the company an "outperform" rating in a report on Friday, January 16th. Truist Financial set a $230.00 price objective on M&T Bank in a research note on Tuesday, January 20th. Evercore downgraded shares of M&T Bank from an "outperform" rating to a "hold" rating and boosted their target price for the company from $210.00 to $225.00 in a research note on Tuesday, January 6th. JPMorgan Chase & Co. upped their target price on shares of M&T Bank from $217.00 to $244.50 and gave the company a "neutral" rating in a report on Monday. Finally, Wall Street Zen upgraded shares of M&T Bank from a "sell" rating to a "hold" rating in a report on Saturday, January 31st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $228.50.
Read Our Latest Stock Analysis on M&T Bank
Institutional Trading of M&T Bank
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Golden State Wealth Management LLC boosted its position in shares of M&T Bank by 2,214.3% in the second quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider's stock worth $31,000 after acquiring an additional 155 shares during the last quarter. Bank of Jackson Hole Trust boosted its holdings in shares of M&T Bank by 342.9% in the 3rd quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 120 shares during the last quarter. Triumph Capital Management purchased a new stake in shares of M&T Bank during the 3rd quarter valued at $32,000. Elyxium Wealth LLC acquired a new stake in shares of M&T Bank during the 4th quarter worth $33,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of M&T Bank in the 2nd quarter worth $36,000. Hedge funds and other institutional investors own 84.68% of the company's stock.
M&T Bank Company Profile
(
Get Free Report)
M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.
Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.
Further Reading
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