Rudina Seseri Sells 623 Shares of M&T Bank (NYSE:MTB) Stock

M&T Bank Corporation (NYSE:MTB) Director Rudina Seseri sold 623 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $241.04, for a total value of $150,167.92. Following the transaction, the director owned 3,649 shares of the company’s stock, valued at approximately $879,554.96. The trade was a 14.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

M&T Bank Trading Up 0.5%

NYSE MTB opened at $241.65 on Thursday. M&T Bank Corporation has a 52 week low of $174.76 and a 52 week high of $255.95. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.96 and a current ratio of 0.96. The stock’s 50 day moving average price is $244.08 and its two-hundred day moving average price is $225.76. The stock has a market capitalization of $34.90 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 1.11 and a beta of 0.57.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share for the quarter, topping the consensus estimate of $4.66 by $0.69. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. The company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same period last year, the business earned $4.28 EPS. As a group, analysts anticipate that M&T Bank Corporation will post 19.43 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently announced 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 of this dividend is Tuesday, September 1st. This represents a $6.00 dividend on an annualized basis and a yield of 2.5%. M&T Bank’s dividend payout ratio (DPR) is 31.68%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MTB. Truist Financial boosted their price target on shares of M&T Bank from $230.00 to $268.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. DA Davidson lifted their target price on M&T Bank from $263.00 to $266.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Wall Street Zen raised M&T Bank from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of M&T Bank in a report on Thursday, June 4th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $300.00 price target on shares of M&T Bank in a research report on Wednesday, July 15th. Seven investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $253.43.

Institutional Investors Weigh In On M&T Bank

A number of institutional investors and hedge funds have recently modified their holdings of MTB. California State Teachers Retirement System grew its holdings in M&T Bank by 23,449.1% during the second quarter. California State Teachers Retirement System now owns 50,491,441 shares of the financial services provider’s stock worth $12,017,468,000 after purchasing an additional 50,277,032 shares during the period. Bank of New York Mellon Corp raised its stake in M&T Bank by 3.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,416,224 shares of the financial services provider’s stock valued at $285,341,000 after buying an additional 49,336 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of M&T Bank by 2.6% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,517 shares of the financial services provider’s stock valued at $252,414,000 after buying an additional 26,486 shares during the last quarter. Barclays PLC boosted its stake in shares of M&T Bank by 3.9% during the 4th quarter. Barclays PLC now owns 530,305 shares of the financial services provider’s stock worth $106,846,000 after acquiring an additional 20,120 shares during the period. Finally, Davis Asset Management L.P. bought a new position in shares of M&T Bank during the 2nd quarter worth approximately $97,584,000. 84.68% of the stock is owned by institutional investors.

About M&T Bank

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.