M&T Bank Co. (NYSE:MTB) insider Robert J. Bojdak sold 1,062 shares of M&T Bank stock in a transaction on Monday, February 26th. The shares were sold at an average price of $195.17, for a total transaction of $207,270.54. Following the completion of the sale, the insider now owns 22,071 shares of the company’s stock, valued at approximately $4,307,597.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of M&T Bank Co. (NYSE:MTB) traded down $2.74 on Wednesday, hitting $190.31. The stock had a trading volume of 473,240 shares, compared to its average volume of 676,039. M&T Bank Co. has a 12-month low of $141.12 and a 12-month high of $197.37. The company has a market capitalization of $29,270.98, a PE ratio of 21.90, a PEG ratio of 1.24 and a beta of 0.88. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.05 and a current ratio of 1.05.
M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Thursday, January 18th. The financial services provider reported $2.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.40 by $0.26. M&T Bank had a return on equity of 10.12% and a net margin of 23.40%. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the prior year, the business posted $1.98 earnings per share. The company’s revenue was up 2.8% on a year-over-year basis. equities analysts expect that M&T Bank Co. will post 12.2 earnings per share for the current year.
M&T Bank declared that its Board of Directors has approved a stock buyback program on Monday, February 5th that allows the company to buyback $745.00 million in shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Monday, March 5th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Friday, March 2nd. M&T Bank’s payout ratio is 34.52%.
Several analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of M&T Bank from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Barclays lifted their price objective on shares of M&T Bank from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, February 26th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of M&T Bank in a report on Tuesday, February 6th. Wedbush reaffirmed a “neutral” rating and set a $186.00 price objective (up from $180.00) on shares of M&T Bank in a report on Tuesday, February 6th. Finally, Royal Bank of Canada reaffirmed a “buy” rating on shares of M&T Bank in a report on Friday, January 19th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $176.41.
Several hedge funds and other institutional investors have recently modified their holdings of MTB. Captrust Financial Advisors purchased a new position in shares of M&T Bank during the fourth quarter worth about $171,000. Calton & Associates Inc. purchased a new stake in M&T Bank in the fourth quarter worth approximately $178,000. NuWave Investment Management LLC purchased a new stake in M&T Bank in the fourth quarter worth approximately $197,000. Savant Capital LLC purchased a new stake in M&T Bank in the fourth quarter worth approximately $202,000. Finally, Shelton Capital Management purchased a new stake in M&T Bank in the fourth quarter worth approximately $202,000. 77.73% of the stock is owned by institutional investors.
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About M&T Bank
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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