Michael J. Todaro Sells 13,101 Shares of M&T Bank Corp. (MTB) Stock
M&T Bank Corp. (NYSE:MTB) insider Michael J. Todaro sold 13,101 shares of the business’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $141.68, for a total transaction of $1,856,149.68. Following the sale, the insider now owns 15,155 shares of the company’s stock, valued at approximately $2,147,160.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of M&T Bank Corp. (NYSE:MTB) opened at 143.57 on Friday. The firm has a market cap of $22.26 billion, a P/E ratio of 19.26 and a beta of 0.70. M&T Bank Corp. has a 12-month low of $100.08 and a 12-month high of $143.99. The firm’s 50-day moving average price is $125.12 and its 200 day moving average price is $118.60.
M&T Bank Corp. (NYSE:MTB) last released its quarterly earnings data on Wednesday, October 19th. The company reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter last year, the company earned $1.93 earnings per share. On average, equities analysts expect that M&T Bank Corp. will post $7.89 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 2nd will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Wednesday, November 30th. M&T Bank Corp.’s payout ratio is presently 37.53%.
Several research firms have weighed in on MTB. Sanford C. Bernstein reiterated a “market perform” rating on shares of M&T Bank Corp. in a research note on Saturday, November 19th. FBR & Co boosted their target price on shares of M&T Bank Corp. from $115.00 to $120.00 and gave the company a “mkt perform” rating in a research note on Thursday, October 20th. Robert W. Baird reiterated an “underperform” rating on shares of M&T Bank Corp. in a research note on Thursday, August 4th. Zacks Investment Research upgraded shares of M&T Bank Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, September 20th. Finally, Barclays PLC reiterated a “buy” rating on shares of M&T Bank Corp. in a research note on Friday, August 12th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. M&T Bank Corp. currently has an average rating of “Hold” and an average target price of $120.50.
Several hedge funds have recently made changes to their positions in MTB. ETRADE Capital Management LLC acquired a new stake in shares of M&T Bank Corp. during the third quarter valued at approximately $287,000. Price T Rowe Associates Inc. MD boosted its stake in shares of M&T Bank Corp. by 1.9% in the third quarter. Price T Rowe Associates Inc. MD now owns 501,261 shares of the company’s stock valued at $58,196,000 after buying an additional 9,328 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in shares of M&T Bank Corp. during the third quarter valued at approximately $491,000. LPL Financial LLC boosted its stake in shares of M&T Bank Corp. by 0.4% in the third quarter. LPL Financial LLC now owns 9,805 shares of the company’s stock valued at $1,142,000 after buying an additional 38 shares during the last quarter. Finally, Mosaic Family Wealth LLC boosted its stake in shares of M&T Bank Corp. by 12.5% in the third quarter. Mosaic Family Wealth LLC now owns 1,130 shares of the company’s stock valued at $131,000 after buying an additional 126 shares during the last quarter. Institutional investors own 80.24% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Michael J. Todaro Sells 13,101 Shares of M&T Bank Corp. (MTB) Stock” was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this article on another website, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark laws. The correct version of this article can be read at https://www.thecerbatgem.com/2016/11/25/michael-j-todaro-sells-13101-shares-of-mt-bank-corp-mtb-stock.html.
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.
Receive News & Stock Ratings for M&T Bank Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M&T Bank Corp. and related stocks with our FREE daily email newsletter.