John Barnes Sells 17,866 Shares of M&T Bank (NYSE:MTB) Stock

M&T Bank Corporation (NYSE:MTB) Director John Barnes sold 17,866 shares of the company’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $220.81, for a total transaction of $3,944,991.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

M&T Bank Stock Down 1.7%

Shares of NYSE MTB traded down $3.77 during mid-day trading on Friday, reaching $213.69. The company had a trading volume of 1,248,298 shares, compared to its average volume of 972,771. The firm has a 50 day simple moving average of $201.50 and a two-hundred day simple moving average of $195.56. M&T Bank Corporation has a 52-week low of $150.75 and a 52-week high of $222.18. 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 market cap of $32.84 billion, a P/E ratio of 12.61, a PEG ratio of 0.96 and a beta of 0.59.

M&T Bank (NYSE:MTB) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $2.47 billion. M&T Bank had a net margin of 21.55% and a return on equity of 10.94%. During the same quarter in the prior year, the firm posted $3.77 earnings per share. Sell-side analysts predict that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The company also recently announced 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 of this dividend was Monday, December 1st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.8%. M&T Bank’s dividend payout ratio is 35.19%.

Analyst Ratings Changes

A number of brokerages have weighed in on MTB. Truist Financial set a $230.00 price objective on M&T Bank in a research note on Tuesday. Wolfe Research downgraded shares of M&T Bank from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 7th. Cantor Fitzgerald increased their price target on shares of M&T Bank from $228.00 to $238.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. Robert W. Baird lifted their price objective on shares of M&T Bank from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, December 18th. Finally, Jefferies Financial Group increased their target price on shares of M&T Bank from $250.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, M&T Bank currently has a consensus rating of “Hold” and a consensus target price of $224.24.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MTB. Golden State Wealth Management LLC lifted its holdings in M&T Bank by 2,214.3% in the second quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 155 shares during the period. Bank of Jackson Hole Trust grew its stake in shares of M&T Bank by 342.9% during the 3rd quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 120 shares during the period. Triumph Capital Management purchased a new position in shares of M&T Bank in the 3rd quarter valued at about $32,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of M&T Bank in the second quarter valued at about $36,000. Finally, Ameriflex Group Inc. lifted its stake in shares of M&T Bank by 82.4% in the third quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 84 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

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.