Key Points
- EVP Michael Wisler sold 8,237 shares of M&T on Feb. 26 at an average price of $223.48 for about $1.84M, leaving him with 4,643 shares (a 63.95% reduction in his position).
- M&T declared a quarterly dividend of $1.50 per share (annualized $6.00) with record date March 2 and payable March 31, implying a yield of roughly 2.7%.
- The bank reported Q4 EPS of $4.72, beating estimates by $0.25 while revenue missed at $1.79B, and analysts' consensus is a "Hold" with an average price target of $231.45.
M&T Bank Corporation (NYSE:MTB - Get Free Report) EVP Michael Wisler sold 8,237 shares of M&T Bank stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $223.48, for a total transaction of $1,840,804.76. Following the sale, the executive vice president owned 4,643 shares of the company's stock, valued at approximately $1,037,617.64. This represents a 63.95% 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 $219.60 on Tuesday. The firm's 50 day moving average price is $218.41 and its two-hundred day moving average price is $201.74. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.96 and a current ratio of 0.96. M&T Bank Corporation has a 52-week low of $150.75 and a 52-week high of $239.00. The stock has a market cap of $32.72 billion, a PE ratio of 12.88, a PEG ratio of 0.95 and a beta of 0.58.
M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.72 earnings per share for the quarter, beating analysts' consensus estimates of $4.47 by $0.25. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the prior year, the business posted $3.77 EPS. As a group, analysts forecast that M&T Bank Corporation will post 16.57 EPS for the current year.
M&T Bank Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 2nd will be issued a dividend of $1.50 per share. The ex-dividend date is Monday, March 2nd. This represents a $6.00 dividend on an annualized basis and a yield of 2.7%. M&T Bank's dividend payout ratio (DPR) is 35.19%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of Jackson Hole Trust grew its holdings in shares of M&T Bank by 342.9% during the third quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider's stock worth $31,000 after buying an additional 120 shares in the last quarter. Triumph Capital Management bought a new position in shares of M&T Bank during the 3rd quarter worth approximately $32,000. Golden State Wealth Management LLC grew its stake in shares of M&T Bank by 2,214.3% during the 2nd 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 in the last quarter. Elyxium Wealth LLC acquired a new stake in shares of M&T Bank in the fourth quarter valued at approximately $33,000. Finally, Ameriflex Group Inc. lifted its position in shares of M&T Bank by 82.4% in the third quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider's stock worth $37,000 after purchasing an additional 84 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the stock. Cantor Fitzgerald increased their price target on shares of M&T Bank from $228.00 to $238.00 and gave the company an "overweight" rating in a research report on Friday, January 16th. Citigroup upped their target price on shares of M&T Bank from $215.00 to $225.00 and gave the company a "neutral" rating in a research note on Friday, January 2nd. Barclays increased their target price on shares of M&T Bank from $220.00 to $236.00 and gave the stock an "equal weight" rating in a report on Monday, January 5th. Truist Financial set a $230.00 price target on shares of M&T Bank in a report on Tuesday, January 20th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of M&T Bank from $220.00 to $230.00 and gave the company a "market perform" rating in a research report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $231.45.
Read Our Latest Stock Report on MTB
About M&T Bank
(
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.
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