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

M&T Bank Corporation (NYSE:MTB) Director Kirk Walters sold 909 shares of M&T Bank stock in a transaction that occurred on Tuesday, February 3rd. The stock was 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 in the company, valued at $1,358,763.12. This represents a 13.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

M&T Bank Price Performance

MTB stock traded up $2.74 on Friday, hitting $236.68. 38,783 shares of the company’s stock traded hands, compared to its average volume of 1,263,680. The stock has a market cap of $36.38 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 1.02 and a beta of 0.60. M&T Bank Corporation has a 1-year low of $150.75 and a 1-year high of $237.40. The company has a current ratio of 0.90, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. The stock has a fifty day moving average of $208.72 and a 200-day moving average of $197.18.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.47 by $0.25. The company had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.47 billion. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.During the same quarter in the prior year, the company earned $3.77 earnings per share. On average, analysts forecast that M&T Bank Corporation will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 1st were given a $1.50 dividend. The ex-dividend date was Monday, December 1st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.5%. M&T Bank’s dividend payout ratio (DPR) is 35.19%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MTB. Bank of Jackson Hole Trust increased its position in M&T Bank by 342.9% during the third quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock worth $31,000 after buying an additional 120 shares during the last quarter. Triumph Capital Management acquired a new stake in M&T Bank during the third quarter worth about $32,000. Golden State Wealth Management LLC increased its position in shares of M&T Bank by 2,214.3% during the second quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 155 shares during the period. Elyxium Wealth LLC acquired a new position in shares of M&T Bank in the 4th quarter valued at $33,000. Finally, Ameriflex Group Inc. lifted its holdings in shares of M&T Bank by 82.4% during the 3rd quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 84 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on MTB shares. Wells Fargo & Company raised their target price on shares of M&T Bank from $185.00 to $205.00 and gave the stock an “underweight” rating in a report on Monday, January 5th. Citigroup lifted their price objective on shares of M&T Bank from $215.00 to $225.00 and gave the stock a “neutral” rating in a research report on Friday, January 2nd. Wolfe Research lowered M&T Bank from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 7th. Bank of America reaffirmed a “neutral” rating and issued a $225.00 target price on shares of M&T Bank in a research report on Wednesday, January 7th. Finally, Robert W. Baird upped their price target on M&T Bank from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $224.29.

About M&T Bank

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.