John P. Barnes Sells 10,000 Shares of M&T Bank Co. (NYSE:MTB) Stock

M&T Bank Co. (NYSE:MTB) Director John P. Barnes sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $147.11, for a total transaction of $1,471,100.00. Following the completion of the sale, the director now owns 34,545 shares of the company’s stock, valued at $5,081,914.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

M&T Bank Stock Up 1.2 %

NYSE:MTB opened at $146.13 on Thursday. The firm has a market cap of $24.35 billion, a P/E ratio of 9.88, a P/E/G ratio of 1.22 and a beta of 0.80. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.94. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $148.93. The firm has a 50-day simple moving average of $141.47 and a two-hundred day simple moving average of $134.29.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same period in the previous year, the business earned $4.09 EPS. Analysts predict that M&T Bank Co. will post 13.92 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date was Friday, March 1st. M&T Bank’s payout ratio is presently 35.16%.

Wall Street Analysts Forecast Growth

MTB has been the subject of several analyst reports. DA Davidson reissued a “neutral” rating and set a $159.00 price target on shares of M&T Bank in a research report on Tuesday, April 16th. Piper Sandler dropped their price target on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a research report on Friday, January 19th. Evercore ISI increased their price target on shares of M&T Bank from $146.00 to $157.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. UBS Group increased their price target on shares of M&T Bank from $139.00 to $154.00 in a research report on Wednesday, January 17th. Finally, Jefferies Financial Group dropped their price target on shares of M&T Bank from $154.00 to $151.00 and set a “hold” rating for the company in a research report on Monday, April 8th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $158.48.

Institutional Trading of M&T Bank

Institutional investors have recently made changes to their positions in the stock. HHM Wealth Advisors LLC purchased a new stake in shares of M&T Bank during the 4th quarter valued at about $25,000. General Partner Inc. purchased a new position in shares of M&T Bank in the first quarter worth approximately $27,000. Headinvest LLC purchased a new position in shares of M&T Bank in the third quarter worth approximately $29,000. BKM Wealth Management LLC purchased a new position in shares of M&T Bank in the fourth quarter worth approximately $32,000. Finally, Creative Financial Designs Inc. ADV purchased a new position in shares of M&T Bank in the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

About M&T Bank

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.