Insider Selling: M&T Bank (NYSE:MTB) Director Sells 21,193 Shares of Stock

M&T Bank Corporation (NYSE:MTB) Director John Barnes sold 21,193 shares of the company’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $235.85, for a total transaction of $4,998,369.05. Following the completion of the transaction, the director owned 15,142 shares in the company, valued at approximately $3,571,240.70. The trade was a 58.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

M&T Bank Stock Down 0.6%

M&T Bank stock traded down $1.50 during trading hours on Wednesday, hitting $234.71. The stock had a trading volume of 1,524,186 shares, compared to its average volume of 1,279,526. The stock’s 50-day moving average price is $211.50 and its 200-day moving average price is $198.09. M&T Bank Corporation has a 12-month low of $150.75 and a 12-month high of $239.00. The company has a quick ratio of 0.97, a current ratio of 0.90 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $36.07 billion, a P/E ratio of 13.77, a price-to-earnings-growth ratio of 1.04 and a beta of 0.60.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.72 earnings per share for the quarter, topping analysts’ consensus estimates 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 company 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 business earned $3.77 EPS. Equities research analysts anticipate that M&T Bank Corporation will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 1st were given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Monday, December 1st. M&T Bank’s dividend payout ratio is 35.19%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC grew its holdings in shares of M&T Bank by 11.9% in the first quarter. Empowered Funds LLC now owns 3,396 shares of the financial services provider’s stock valued at $607,000 after purchasing an additional 362 shares in the last quarter. Woodline Partners LP grew its stake in shares of M&T Bank by 40.7% in the 1st quarter. Woodline Partners LP now owns 14,018 shares of the financial services provider’s stock worth $2,506,000 after buying an additional 4,054 shares in the last quarter. Boston Trust Walden Corp increased its holdings in shares of M&T Bank by 1.5% in the 2nd quarter. Boston Trust Walden Corp now owns 49,012 shares of the financial services provider’s stock worth $9,508,000 after buying an additional 734 shares during the last quarter. Applied Finance Capital Management LLC purchased a new stake in shares of M&T Bank during the 2nd quarter valued at about $798,000. Finally, Cullen Frost Bankers Inc. raised its position in shares of M&T Bank by 1,109.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 254 shares of the financial services provider’s stock valued at $49,000 after buying an additional 233 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MTB has been the subject of several recent research reports. Weiss Ratings restated a “buy (b-)” rating on shares of M&T Bank in a research report on Monday, December 29th. UBS Group lifted their price target on shares of M&T Bank from $217.00 to $230.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. Bank of America restated a “neutral” rating and issued a $225.00 price objective on shares of M&T Bank in a research note on Wednesday, January 7th. Wall Street Zen upgraded M&T Bank from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Robert W. Baird boosted their price target on M&T Bank from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $228.50.

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.