Michael Wisler Sells 8,237 Shares of M&T Bank (NYSE:MTB) Stock

M&T Bank Corporation (NYSE:MTB) EVP Michael Wisler sold 8,237 shares of the stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $223.48, for a total transaction of $1,840,804.76. Following the completion of the transaction, the executive vice president directly owned 4,643 shares in the company, valued at $1,037,617.64. This trade represents a 63.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

M&T Bank Price Performance

Shares of MTB opened at $219.31 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.96 and a quick ratio of 0.96. M&T Bank Corporation has a 1-year low of $150.75 and a 1-year high of $239.00. The stock has a market cap of $32.68 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 0.96 and a beta of 0.58. The firm has a fifty day moving average price of $218.68 and a 200 day moving average price of $201.95.

M&T Bank (NYSE:MTB) last posted its earnings results on Friday, January 16th. The financial services provider reported $4.72 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.25. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $3.77 EPS. As a group, sell-side analysts anticipate that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 2nd will be given a dividend of $1.50 per share. The ex-dividend date is Monday, March 2nd. This represents a $6.00 annualized dividend and a yield of 2.7%. M&T Bank’s payout ratio is presently 35.19%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Commonwealth Retirement Investments LLC lifted its stake in M&T Bank by 0.4% in the 4th quarter. Commonwealth Retirement Investments LLC now owns 10,991 shares of the financial services provider’s stock valued at $2,214,000 after buying an additional 44 shares in the last quarter. Ransom Advisory Ltd raised its holdings in shares of M&T Bank by 2.0% in the fourth quarter. Ransom Advisory Ltd now owns 2,513 shares of the financial services provider’s stock worth $506,000 after acquiring an additional 50 shares during the last quarter. Wedbush Securities Inc. lifted its position in shares of M&T Bank by 2.4% in the fourth quarter. Wedbush Securities Inc. now owns 2,223 shares of the financial services provider’s stock valued at $448,000 after acquiring an additional 52 shares in the last quarter. Crestwood Advisors Group LLC boosted its stake in shares of M&T Bank by 1.7% during the second quarter. Crestwood Advisors Group LLC now owns 3,237 shares of the financial services provider’s stock valued at $628,000 after acquiring an additional 54 shares during the last quarter. Finally, Bank of Jackson Hole Trust increased its position in M&T Bank by 38.7% during the 4th quarter. Bank of Jackson Hole Trust now owns 215 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 60 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MTB shares. Wolfe Research lowered M&T Bank from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 7th. Cantor Fitzgerald upped their price target on shares of M&T Bank from $238.00 to $255.00 and gave the stock an “overweight” rating in a research note on Tuesday. Piper Sandler raised their price objective on shares of M&T Bank from $225.00 to $235.00 in a research note on Friday, January 16th. Robert W. Baird boosted their price objective on shares of M&T Bank from $225.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, December 18th. Finally, Morgan Stanley increased their target price on shares of M&T Bank from $251.00 to $271.00 and gave the company an “equal weight” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $232.34.

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.