Insider Selling: M&T Bank Co. (NYSE:MTB) Director Sells $1,471,100.00 in Stock

M&T Bank Co. (NYSE:MTB) Director John P. Barnes sold 10,000 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $147.11, for a total value of $1,471,100.00. Following the completion of the transaction, the director now directly owns 34,545 shares of the company’s stock, valued at approximately $5,081,914.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

M&T Bank Stock Performance

MTB traded down $0.84 during trading hours on Monday, hitting $145.54. The company’s stock had a trading volume of 735,563 shares, compared to its average volume of 1,183,259. The company has a current ratio of 0.94, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $148.93. The company has a 50-day simple moving average of $141.00 and a 200 day simple moving average of $133.88. The firm has a market capitalization of $24.25 billion, a PE ratio of 9.90, a PEG ratio of 1.22 and a beta of 0.80.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same quarter in the prior year, the firm earned $4.09 earnings per share. As a group, sell-side analysts expect that M&T Bank Co. will post 13.92 EPS for the current year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were issued a $1.30 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 annualized dividend and a dividend yield of 3.57%. M&T Bank’s dividend payout ratio (DPR) is 35.16%.

Hedge Funds Weigh In On M&T Bank

Several hedge funds have recently made changes to their positions in MTB. Monte Financial Group LLC increased its holdings in shares of M&T Bank by 0.4% in the first quarter. Monte Financial Group LLC now owns 31,492 shares of the financial services provider’s stock valued at $4,580,000 after buying an additional 138 shares in the last quarter. Mn Services Vermogensbeheer B.V. purchased a new position in M&T Bank in the 1st quarter worth about $9,759,000. Prestige Wealth Management Group LLC raised its holdings in M&T Bank by 80.6% during the 1st quarter. Prestige Wealth Management Group LLC now owns 3,372 shares of the financial services provider’s stock worth $490,000 after buying an additional 1,505 shares during the period. YHB Investment Advisors Inc. purchased a new stake in M&T Bank during the first quarter valued at about $95,000. Finally, Checchi Capital Advisers LLC acquired a new position in shares of M&T Bank in the first quarter worth about $202,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on MTB shares. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research note on Thursday. Jefferies Financial Group dropped their target price on shares of M&T Bank from $154.00 to $151.00 and set a “hold” rating for the company in a research report on Monday, April 8th. DA Davidson reaffirmed a “neutral” rating and set a $159.00 price target on shares of M&T Bank in a research report on Tuesday, April 16th. Wedbush reissued an “outperform” rating and issued a $170.00 price objective on shares of M&T Bank in a report on Wednesday, April 10th. Finally, Wells Fargo & Company lifted their target price on M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 16th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, M&T Bank presently has a consensus rating of “Hold” and an average target price of $158.48.

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.