M&T Bank Corporation (NYSE:MTB - Get Free Report) Director Rudina Seseri sold 623 shares of the company's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $241.04, for a total transaction of $150,167.92. Following the sale, the director directly owned 3,649 shares in the company, valued at approximately $879,554.96. The trade was a 14.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
M&T Bank Price Performance
MTB stock opened at $240.60 on Wednesday. M&T Bank Corporation has a 52 week low of $174.76 and a 52 week high of $255.95. The firm has a market capitalization of $34.75 billion, a P/E ratio of 12.70, a price-to-earnings-growth ratio of 1.12 and a beta of 0.57. The company has a fifty day simple moving average of $243.75 and a two-hundred day simple moving average of $225.70. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.53.
M&T Bank (NYSE:MTB - Get Free Report) last posted its earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share for the quarter, topping analysts' consensus estimates of $4.66 by $0.69. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.46 billion. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. During the same period in the previous year, the firm posted $4.28 EPS. Analysts anticipate that M&T Bank Corporation will post 19.43 earnings per share for the current fiscal year.
M&T Bank Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be given a $1.50 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $6.00 annualized dividend and a yield of 2.5%. M&T Bank's dividend payout ratio (DPR) is currently 31.68%.
Institutional Trading of M&T Bank
Several institutional investors have recently added to or reduced their stakes in the company. First Bancorp Inc ME bought a new position in shares of M&T Bank during the second quarter valued at approximately $25,000. Bogart Wealth LLC raised its holdings in shares of M&T Bank by 233.3% in the first quarter. Bogart Wealth LLC now owns 120 shares of the financial services provider's stock worth $25,000 after buying an additional 84 shares during the period. Triumph Capital Management bought a new stake in shares of M&T Bank during the 3rd quarter worth approximately $32,000. Elyxium Wealth LLC bought a new stake in shares of M&T Bank during the 4th quarter worth approximately $33,000. Finally, NBH Bank purchased a new position in M&T Bank during the 2nd quarter valued at $51,000. Institutional investors own 84.68% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have issued reports on MTB shares. Barclays upped their price objective on M&T Bank from $236.00 to $267.00 and gave the company an "equal weight" rating in a research report on Thursday, July 16th. Wells Fargo & Company boosted their target price on M&T Bank from $215.00 to $224.00 and gave the company an "underweight" rating in a research report on Thursday, July 16th. DA Davidson increased their price target on M&T Bank from $263.00 to $266.00 and gave the company a "neutral" rating in a report on Thursday, July 16th. Wall Street Zen upgraded M&T Bank from a "sell" rating to a "hold" rating in a research report on Monday, July 20th. Finally, Robert W. Baird lifted their price objective on shares of M&T Bank from $240.00 to $250.00 and gave the stock a "neutral" rating in a research note on Thursday, July 16th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $253.43.
Read Our Latest Research Report on M&T Bank
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.
Further Reading
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