M&T Bank (NYSE:MTB) Vice Chairman Sells $191,405.73 in Stock

M&T Bank Corporation (NYSE:MTB) Vice Chairman Gary Geisel sold 887 shares of the firm’s stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $215.79, for a total transaction of $191,405.73. Following the transaction, the insider directly owned 16,446 shares of the company’s stock, valued at $3,548,882.34. This represents a 5.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

M&T Bank Stock Performance

MTB stock traded up $0.45 during trading on Friday, hitting $221.89. 1,516,137 shares of the company traded hands, compared to its average volume of 1,249,047. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.90 and a quick ratio of 0.97. M&T Bank Corporation has a 1 year low of $150.75 and a 1 year high of $222.83. The stock’s 50-day simple moving average is $204.86 and its 200 day simple moving average is $196.09. The company has a market cap of $34.10 billion, a PE ratio of 13.01, a P/E/G ratio of 0.95 and a beta of 0.59.

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. M&T Bank had a net margin of 21.55% and a return on equity of 10.94%. The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same period in the previous year, the firm earned $3.77 EPS. On average, equities analysts expect that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st were paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Monday, December 1st. M&T Bank’s dividend payout ratio is presently 35.19%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Truist Financial set a $230.00 target price on shares of M&T Bank in a research note on Tuesday, January 20th. Royal Bank Of Canada raised their target price on M&T Bank from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday, January 16th. UBS Group boosted their target price on M&T Bank from $207.00 to $208.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Jefferies Financial Group lifted their price target on M&T Bank from $250.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, January 16th. Finally, Keefe, Bruyette & Woods raised their price target on shares of M&T Bank from $220.00 to $230.00 and gave the stock a “market perform” rating in a report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $224.29.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC grew its holdings in M&T Bank by 11.9% during the 1st quarter. Empowered Funds LLC now owns 3,396 shares of the financial services provider’s stock worth $607,000 after acquiring an additional 362 shares in the last quarter. Woodline Partners LP grew its position in shares of M&T Bank by 40.7% during the first quarter. Woodline Partners LP now owns 14,018 shares of the financial services provider’s stock worth $2,506,000 after acquiring an additional 4,054 shares during the last quarter. Cornell Pochily Investment Advisors Inc. raised its holdings in shares of M&T Bank by 50.7% in the second quarter. Cornell Pochily Investment Advisors Inc. now owns 2,343 shares of the financial services provider’s stock valued at $455,000 after buying an additional 788 shares during the last quarter. Hudson Edge Investment Partners Inc. lifted its position in M&T Bank by 6.3% during the 2nd quarter. Hudson Edge Investment Partners Inc. now owns 40,483 shares of the financial services provider’s stock worth $7,853,000 after acquiring an additional 2,414 shares during the period. Finally, Valeo Financial Advisors LLC boosted its holdings in shares of M&T Bank by 17.2% in the second quarter. Valeo Financial Advisors LLC now owns 1,990 shares of the financial services provider’s stock valued at $386,000 after acquiring an additional 292 shares in the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

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.