M&T Bank Co. (NYSE:MTB) Director Sells $396,000.00 in Stock

M&T Bank Co. (NYSE:MTB) Director Robert E. Sadler, Jr. sold 2,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $198.00, for a total transaction of $396,000.00. Following the transaction, the director now owns 29,796 shares in the company, valued at approximately $5,899,608. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

M&T Bank Price Performance

NYSE MTB opened at $192.25 on Friday. The business has a 50 day simple moving average of $179.30 and a 200 day simple moving average of $162.56. M&T Bank Co. has a 52-week low of $112.60 and a 52-week high of $200.94. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 0.94. The stock has a market cap of $32.08 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 2.80 and a beta of 0.75.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s dividend payout ratio (DPR) is currently 39.97%.

Hedge Funds Weigh In On M&T Bank

A number of large investors have recently bought and sold shares of the company. Sustainable Insight Capital Management LLC acquired a new position in M&T Bank during the 3rd quarter worth approximately $3,242,000. Tompkins Financial Corp boosted its position in M&T Bank by 8.6% during the 3rd quarter. Tompkins Financial Corp now owns 1,586 shares of the financial services provider’s stock worth $282,000 after acquiring an additional 125 shares during the last quarter. Assetmark Inc. boosted its position in M&T Bank by 6.6% during the 3rd quarter. Assetmark Inc. now owns 38,416 shares of the financial services provider’s stock worth $6,843,000 after acquiring an additional 2,387 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in M&T Bank during the 3rd quarter worth approximately $44,000. Finally, Philip James Wealth Mangement LLC acquired a new position in M&T Bank during the 3rd quarter worth approximately $873,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MTB. Royal Bank of Canada upped their price target on shares of M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Wells Fargo & Company upped their price target on M&T Bank from $165.00 to $190.00 and gave the company an “underweight” rating in a research note on Friday, October 18th. Piper Sandler upped their price target on M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Wolfe Research raised M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price target for the company in a research note on Friday, October 4th. Finally, Citigroup upped their price target on M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, M&T Bank presently has a consensus rating of “Hold” and an average target price of $198.76.

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.