Kirk Walters Sells 909 Shares of M&T Bank (NYSE:MTB) Stock

M&T Bank Corporation (NYSE:MTB) Director Kirk Walters sold 909 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $227.37, for a total transaction of $206,679.33. Following the completion of the transaction, the director directly owned 5,976 shares of the company’s stock, valued at $1,358,763.12. This represents a 13.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

M&T Bank Stock Up 0.7%

Shares of M&T Bank stock traded up $1.70 during trading hours on Thursday, reaching $233.96. 1,676,635 shares of the company were exchanged, compared to its average volume of 1,291,802. The firm has a market cap of $35.96 billion, a PE ratio of 13.72, a PEG ratio of 1.02 and a beta of 0.60. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 0.90. M&T Bank Corporation has a 1 year low of $150.75 and a 1 year high of $235.77. The stock’s fifty day moving average is $208.72 and its 200 day moving average is $197.18.

M&T Bank (NYSE:MTB) last released its earnings results on Friday, January 16th. The financial services provider reported $4.72 EPS for the quarter, topping the consensus estimate of $4.47 by $0.25. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.The firm had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same period in the previous year, the firm posted $3.77 EPS. As a group, equities research analysts forecast that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 1st were paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Monday, December 1st. M&T Bank’s dividend payout ratio is presently 35.19%.

Institutional Investors Weigh In On M&T Bank

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Canoe Financial LP grew its holdings in shares of M&T Bank by 46.8% during the third quarter. Canoe Financial LP now owns 433,679 shares of the financial services provider’s stock worth $85,704,000 after buying an additional 138,173 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in M&T Bank by 19.1% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 86,731 shares of the financial services provider’s stock worth $17,140,000 after acquiring an additional 13,889 shares during the period. Allstate Corp purchased a new position in shares of M&T Bank in the 3rd quarter valued at approximately $1,114,000. Commerzbank Aktiengesellschaft FI increased its holdings in shares of M&T Bank by 27.3% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 8,111 shares of the financial services provider’s stock valued at $1,574,000 after purchasing an additional 1,741 shares during the period. Finally, Ethic Inc. increased its holdings in shares of M&T Bank by 20.8% in the second quarter. Ethic Inc. now owns 25,741 shares of the financial services provider’s stock valued at $4,988,000 after purchasing an additional 4,432 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on MTB shares. The Goldman Sachs Group boosted their price target on shares of M&T Bank from $230.00 to $231.00 and gave the stock a “neutral” rating in a report on Tuesday, January 20th. Wall Street Zen raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Royal Bank Of Canada boosted their target price on shares of M&T Bank from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday, January 16th. Robert W. Baird raised their price target on M&T Bank from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, December 18th. Finally, Wolfe Research downgraded M&T Bank from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, M&T Bank currently has an average rating of “Hold” and a consensus price target of $224.29.

M&T Bank Company Profile

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid?Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle?market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.