M&T Bank Co. (NYSE:MTB) Vice Chairman Kevin J. Pearson Sells 7,500 Shares of Stock

M&T Bank Co. (NYSE:MTB) Vice Chairman Kevin J. Pearson sold 7,500 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $195.88, for a total value of $1,469,100.00. Following the transaction, the insider now directly owns 40,502 shares in the company, valued at $7,933,531.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

M&T Bank Stock Down 4.0 %

Shares of NYSE:MTB opened at $207.95 on Friday. The company has a current ratio of 0.94, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. The firm has a market cap of $34.70 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 2.70 and a beta of 0.74. The stock’s 50-day moving average price is $181.20 and its two-hundred day moving average price is $163.98. M&T Bank Co. has a 12-month low of $115.93 and a 12-month high of $216.84.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.60%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s dividend payout ratio (DPR) is 39.97%.

Hedge Funds Weigh In On M&T Bank

A number of hedge funds have recently made changes to their positions in the stock. Smead Capital Management Inc. boosted its holdings in M&T Bank by 3.5% in the third quarter. Smead Capital Management Inc. now owns 493,817 shares of the financial services provider’s stock valued at $87,959,000 after acquiring an additional 16,657 shares during the last quarter. Caprock Group LLC raised its holdings in shares of M&T Bank by 10.8% in the 3rd quarter. Caprock Group LLC now owns 10,731 shares of the financial services provider’s stock worth $1,911,000 after purchasing an additional 1,048 shares during the period. Pathstone Holdings LLC lifted its stake in shares of M&T Bank by 0.7% in the 3rd quarter. Pathstone Holdings LLC now owns 28,625 shares of the financial services provider’s stock valued at $5,099,000 after purchasing an additional 185 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of M&T Bank by 33.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 87,626 shares of the financial services provider’s stock worth $15,608,000 after purchasing an additional 21,881 shares during the period. Finally, Mill Creek Capital Advisors LLC acquired a new stake in M&T Bank during the 3rd quarter worth approximately $224,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MTB shares. Keefe, Bruyette & Woods upped their price target on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Morgan Stanley upped their price target on M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. DA Davidson lifted their price objective on M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Finally, The Goldman Sachs Group raised their price target on M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.