Darren J. King Sells 8,762 Shares of M&T Bank Corp. (MTB) Stock
M&T Bank Corp. (NYSE:MTB) CFO Darren J. King sold 8,762 shares of M&T Bank Corp. stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $123.01, for a total transaction of $1,077,813.62. Following the transaction, the chief financial officer now owns 17,983 shares in the company, valued at $2,212,088.83. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
M&T Bank Corp. (NYSE:MTB) opened at 133.71 on Friday. The stock’s 50 day moving average is $119.06 and its 200-day moving average is $117.16. M&T Bank Corp. has a 12 month low of $100.08 and a 12 month high of $135.20. The firm has a market cap of $20.72 billion, a price-to-earnings ratio of 17.94 and a beta of 0.70.
M&T Bank Corp. (NYSE:MTB) last issued its quarterly earnings data on Wednesday, October 19th. The company reported $2.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.04 by $0.09. M&T Bank Corp. had a net margin of 22.32% and a return on equity of 8.59%. During the same quarter in the prior year, the business earned $1.93 earnings per share. On average, analysts anticipate that M&T Bank Corp. will post $7.87 earnings per share for the current fiscal year.
Several equities analysts have recently commented on MTB shares. Zacks Investment Research cut shares of M&T Bank Corp. from a “hold” rating to a “sell” rating in a report on Thursday, September 29th. Credit Agricole SA boosted their price target on shares of M&T Bank Corp. from $128.00 to $129.00 and gave the company an “outperform” rating in a report on Friday, September 23rd. FBR & Co boosted their price target on shares of M&T Bank Corp. from $115.00 to $120.00 and gave the company a “mkt perform” rating in a report on Thursday, October 20th. Barclays PLC restated a “buy” rating on shares of M&T Bank Corp. in a report on Friday, August 12th. Finally, Jefferies Group restated a “hold” rating and set a $111.00 price target (down from $116.00) on shares of M&T Bank Corp. in a report on Thursday, July 21st. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $141.65.
Several large investors have recently modified their holdings of the company. Euclid Advisors LLC bought a new stake in shares of M&T Bank Corp. during the second quarter valued at about $128,000. NEXT Financial Group Inc increased its position in M&T Bank Corp. by 36.5% in the second quarter. NEXT Financial Group Inc now owns 1,096 shares of the company’s stock worth $129,000 after buying an additional 293 shares during the period. Investment Counselors of Maryland LLC increased its position in M&T Bank Corp. by 3.5% in the second quarter. Investment Counselors of Maryland LLC now owns 1,484 shares of the company’s stock worth $175,000 after buying an additional 50 shares during the period. Alpha Windward LLC increased its position in M&T Bank Corp. by 1.1% in the third quarter. Alpha Windward LLC now owns 1,592 shares of the company’s stock worth $185,000 after buying an additional 17 shares during the period. Finally, Global X Management Co. LLC increased its position in M&T Bank Corp. by 99.3% in the second quarter. Global X Management Co. LLC now owns 1,694 shares of the company’s stock worth $200,000 after buying an additional 844 shares during the period. 80.37% of the stock is owned by institutional investors.
About M&T Bank Corp.
M&T Bank Corporation (M&T) is a bank holding company. The Company, through its subsidiaries, M&T Bank and Wilmington Trust, National Association (Wilmington Trust, N.A.), offer a range of retail and commercial banking, trust and wealth management, and investment services to their customers. M&T’s segments include Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking and Retail Banking.
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