M&T Bank Corp. (MTB) Insider Sells $1,645,611.66 in Stock
M&T Bank Corp. (NYSE:MTB) insider Brian E. Hickey sold 13,167 shares of the business’s stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $124.98, for a total transaction of $1,645,611.66. Following the completion of the sale, the insider now owns 25,055 shares in the company, valued at approximately $3,131,373.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
M&T Bank Corp. (NYSE:MTB) opened at 136.00 on Monday. The company has a market capitalization of $21.09 billion, a P/E ratio of 18.24 and a beta of 0.70. The firm has a 50-day moving average of $119.60 and a 200-day moving average of $117.28. M&T Bank Corp. has a one year low of $100.08 and a one year high of $136.16.
M&T Bank Corp. (NYSE:MTB) last issued its earnings results on Wednesday, October 19th. The company reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.09. M&T Bank Corp. had a return on equity of 8.59% and a net margin of 22.32%. During the same period in the prior year, the firm posted $1.93 earnings per share. On average, analysts anticipate that M&T Bank Corp. will post $7.90 earnings per share for the current year.
Several brokerages recently weighed in on MTB. Zacks Investment Research upgraded shares of M&T Bank Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, September 20th. Robert W. Baird restated an “underperform” rating on shares of M&T Bank Corp. in a research report on Thursday, August 4th. FBR & Co reduced their price target on shares of M&T Bank Corp. from $120.00 to $105.00 and set a “hold” rating on the stock in a research report on Thursday, July 21st. Wedbush began coverage on shares of M&T Bank Corp. in a research report on Thursday, October 6th. They issued a “neutral” rating and a $117.00 price target on the stock. Finally, Barclays PLC reaffirmed a “buy” rating on shares of M&T Bank Corp. in a research note on Friday, August 12th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company’s stock. M&T Bank Corp. currently has an average rating of “Hold” and a consensus target price of $141.65.
Several hedge funds have recently modified their holdings of the company. Euclid Advisors LLC acquired a new stake in shares of M&T Bank Corp. during the second quarter worth about $128,000. NEXT Financial Group Inc increased its stake in shares of 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 last quarter. Investment Counselors of Maryland LLC increased its stake in shares of 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 last quarter. Alpha Windward LLC increased its stake in shares of 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 last quarter. Finally, Global X Management Co. LLC increased its stake in shares of 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 last quarter. 80.09% of the stock is owned by hedge funds and other institutional investors.
M&T Bank Corp. Company Profile
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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