M&T Bank Corporation (NYSE:MTB) Director Robert E. Sadler, Jr. Sells 6,700 Shares

M&T Bank Corporation (NYSE:MTB) Director Robert E. Sadler, Jr. sold 6,700 shares of the company’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $183.52, for a total value of $1,229,584.00. Following the transaction, the director now directly owns 23,070 shares of the company’s stock, valued at $4,233,806.40. This represents a 22.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

M&T Bank Price Performance

NYSE:MTB opened at $178.16 on Wednesday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.39. The firm has a fifty day simple moving average of $175.42 and a 200 day simple moving average of $184.75. M&T Bank Corporation has a 1-year low of $144.63 and a 1-year high of $225.70. The stock has a market capitalization of $28.60 billion, a PE ratio of 11.93, a P/E/G ratio of 1.31 and a beta of 0.62.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.03). M&T Bank had a return on equity of 10.18% and a net margin of 19.86%. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the firm earned $3.09 earnings per share. On average, research analysts expect that M&T Bank Corporation will post 16.57 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be given a dividend of $1.35 per share. The ex-dividend date is Monday, June 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 3.03%. M&T Bank’s dividend payout ratio (DPR) is 36.17%.

Hedge Funds Weigh In On M&T Bank

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Howe & Rusling Inc. boosted its position in M&T Bank by 15.0% during the first quarter. Howe & Rusling Inc. now owns 3,675 shares of the financial services provider’s stock worth $657,000 after purchasing an additional 480 shares during the period. Strs Ohio bought a new position in M&T Bank during the first quarter worth $29,566,000. Jacobi Capital Management LLC boosted its position in M&T Bank by 1.1% during the first quarter. Jacobi Capital Management LLC now owns 8,136 shares of the financial services provider’s stock worth $1,454,000 after purchasing an additional 87 shares during the period. Advisors Capital Management LLC boosted its position in M&T Bank by 1.6% during the first quarter. Advisors Capital Management LLC now owns 185,017 shares of the financial services provider’s stock worth $33,072,000 after purchasing an additional 2,932 shares during the period. Finally, Geneos Wealth Management Inc. boosted its position in M&T Bank by 20.0% during the first quarter. Geneos Wealth Management Inc. now owns 1,656 shares of the financial services provider’s stock worth $296,000 after purchasing an additional 276 shares during the period. 84.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on MTB shares. Deutsche Bank Aktiengesellschaft upgraded M&T Bank from a “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a research note on Thursday, April 24th. Barclays cut their price objective on shares of M&T Bank from $235.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 15th. Wall Street Zen upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of M&T Bank in a research note on Monday, May 19th. Finally, Evercore ISI cut their price target on shares of M&T Bank from $234.00 to $205.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $212.53.

About M&T Bank

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.