M&T Bank (NYSE:MTB) CEO Rene Jones Sells 19,396 Shares

M&T Bank Corporation (NYSE:MTB) CEO Rene Jones sold 19,396 shares of the stock in a transaction on Monday, September 14th. The stock was sold at an average price of $239.35, for a total value of $4,642,432.60. Following the transaction, the chief executive officer directly owned 103,831 shares in the company, valued at approximately $24,851,949.85. This represents a 15.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

M&T Bank Price Performance

Shares of NYSE:MTB opened at $223.48 on Wednesday. The company has a market cap of $32.28 billion, a P/E ratio of 11.80, a P/E/G ratio of 1.29 and a beta of 0.56. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.53. M&T Bank Corporation has a 52 week low of $174.76 and a 52 week high of $255.95. The business has a fifty day simple moving average of $243.32 and a 200-day simple moving average of $226.72.

M&T Bank (NYSE:MTB) last released its 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 return on equity of 11.80% and a net margin of 22.72%.The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the prior year, the business posted $4.28 earnings per share. Equities research analysts forecast that M&T Bank Corporation will post 19.45 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Tuesday, September 1st. M&T Bank’s dividend payout ratio is presently 31.68%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MTB. Deutsche Bank Aktiengesellschaft downgraded shares of M&T Bank from a “buy” rating to a “hold” rating and set a $250.00 target price for the company. in a report on Thursday, July 23rd. Cantor Fitzgerald lifted their price target on shares of M&T Bank from $262.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, August 19th. DA Davidson boosted their price objective on shares of M&T Bank from $263.00 to $266.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Truist Financial upped their price objective on M&T Bank from $230.00 to $268.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. Finally, Morgan Stanley raised M&T Bank from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $253.00 to $304.00 in a research report on Tuesday, September 8th. Eight equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, M&T Bank has an average rating of “Hold” and a consensus price target of $255.97.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MTB. Andra AP fonden bought a new position in shares of M&T Bank in the second quarter worth $4,047,000. Sequoia Financial Advisors LLC lifted its holdings in M&T Bank by 7.3% in the second quarter. Sequoia Financial Advisors LLC now owns 9,239 shares of the financial services provider’s stock worth $2,199,000 after purchasing an additional 627 shares during the period. WINTON GROUP Ltd lifted its holdings in M&T Bank by 310.3% in the second quarter. WINTON GROUP Ltd now owns 23,159 shares of the financial services provider’s stock worth $5,512,000 after purchasing an additional 17,515 shares during the period. Cidel Asset Management Inc. grew its position in M&T Bank by 5.4% in the 2nd quarter. Cidel Asset Management Inc. now owns 1,196 shares of the financial services provider’s stock valued at $285,000 after buying an additional 61 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC grew its position in M&T Bank by 13.8% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,119 shares of the financial services provider’s stock valued at $266,000 after buying an additional 136 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

M&T Bank Company Profile

M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Its principal banking subsidiary, Manufacturers and Traders Trust Company, commonly known as M&T Bank, provides financial products and services to individuals, businesses, institutions and government entities.

The company’s offerings include checking and savings accounts, consumer and commercial loans, residential mortgages, credit cards, treasury management and other business banking services.