M&T Bank Corporation (NYSE:MTB) Director Robert E. Sadler, Jr. sold 1,000 shares of the stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $171.19, for a total transaction of $171,190.00. Following the completion of the sale, the director now owns 52,049 shares in the company, valued at $8,910,268.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
M&T Bank Corporation (NYSE:MTB) traded up $1.56 during trading hours on Thursday, reaching $171.07. 463,754 shares of the company’s stock were exchanged, compared to its average volume of 747,448. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $25,652.34, a P/E ratio of 19.41, a P/E/G ratio of 2.08 and a beta of 0.84. M&T Bank Corporation has a 12 month low of $141.12 and a 12 month high of $176.62.
M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $2.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.40 by ($0.19). The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.43 billion. M&T Bank had a return on equity of 9.52% and a net margin of 23.97%. During the same period in the prior year, the business earned $2.10 EPS. research analysts anticipate that M&T Bank Corporation will post 9.1 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Thursday, November 30th. M&T Bank’s dividend payout ratio is currently 34.64%.
Several analysts have recently commented on the stock. ValuEngine upgraded shares of M&T Bank from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. Instinet reiterated a “neutral” rating and issued a $145.00 price target (up from $144.00) on shares of M&T Bank in a research report on Saturday, September 30th. Nomura upped their price objective on shares of M&T Bank from $144.00 to $145.00 and gave the company a “neutral” rating in a research note on Thursday, September 28th. Wells Fargo & Company started coverage on shares of M&T Bank in a research note on Wednesday, August 9th. They set a “market perform” rating and a $170.00 price objective on the stock. Finally, Zacks Investment Research downgraded shares of M&T Bank from a “buy” rating to a “hold” rating in a research note on Monday, October 9th. Five equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. M&T Bank currently has an average rating of “Hold” and a consensus target price of $162.56.
A number of large investors have recently bought and sold shares of MTB. Dupont Capital Management Corp purchased a new position in M&T Bank during the second quarter worth approximately $140,000. QCI Asset Management Inc. NY raised its stake in M&T Bank by 0.3% during the second quarter. QCI Asset Management Inc. NY now owns 1,059 shares of the financial services provider’s stock worth $171,000 after purchasing an additional 3 shares during the period. Sun Life Financial INC raised its stake in M&T Bank by 8,576.9% during the second quarter. Sun Life Financial INC now owns 1,128 shares of the financial services provider’s stock worth $183,000 after purchasing an additional 1,115 shares during the period. Mosaic Family Wealth LLC raised its stake in M&T Bank by 5.3% during the second quarter. Mosaic Family Wealth LLC now owns 1,225 shares of the financial services provider’s stock worth $198,000 after purchasing an additional 62 shares during the period. Finally, Wedbush Securities Inc. purchased a new position in M&T Bank during the third quarter worth approximately $206,000. 79.29% of the stock is currently owned by institutional investors.
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M&T Bank Company Profile
M&T Bank Corporation (M&T) is a bank holding company. As of December 31, 2016, M&T had two bank subsidiaries: Manufacturers and Traders Trust Company (M&T Bank) and Wilmington Trust, National Association (Wilmington Trust, N.A.). The Company, along with its subsidiaries, offers a range of retail and commercial banking, trust and wealth management, and investment services.
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