John P. Barnes Sells 20,000 Shares of M&T Bank Co. (NYSE:MTB) Stock

M&T Bank Co. (NYSE:MTB) Director John P. Barnes sold 20,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $217.45, for a total value of $4,349,000.00. Following the sale, the director now owns 35,480 shares of the company’s stock, valued at $7,715,126. This represents a 36.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

M&T Bank Stock Down 0.5 %

MTB stock opened at $220.77 on Wednesday. The stock has a market cap of $36.63 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 3.11 and a beta of 0.74. The firm’s 50-day simple moving average is $193.89 and its 200 day simple moving average is $170.70. M&T Bank Co. has a fifty-two week low of $123.46 and a fifty-two week high of $225.70. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, beating the consensus estimate of $3.60 by $0.48. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.30 billion. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. As a group, sell-side analysts predict that M&T Bank Co. will post 14.56 EPS for the current year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Monday, December 2nd. M&T Bank’s payout ratio is currently 39.97%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Plato Investment Management Ltd raised its stake in shares of M&T Bank by 2,300.0% during the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 161 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in M&T Bank during the 3rd quarter valued at about $32,000. Hexagon Capital Partners LLC raised its position in shares of M&T Bank by 54.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after buying an additional 68 shares in the last quarter. Oakworth Capital Inc. bought a new stake in shares of M&T Bank during the 2nd quarter worth about $35,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of M&T Bank by 329.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 158 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on MTB. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Royal Bank of Canada raised 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. JPMorgan Chase & Co. raised shares of M&T Bank from a “neutral” rating to an “overweight” rating and upped their price target for the company from $183.00 to $215.00 in a report on Tuesday, September 3rd. Morgan Stanley raised their price objective on shares of M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, Bank of America upped their target price on shares of M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and a consensus target price of $203.29.

M&T Bank Company Profile

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.