M&T Bank Co. (NYSE:MTB) Vice Chairman Sells $1,469,100.00 in Stock

M&T Bank Co. (NYSE:MTB) Vice Chairman Kevin J. Pearson sold 7,500 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $195.88, for a total transaction of $1,469,100.00. Following the completion of the transaction, the insider now owns 40,502 shares of the company’s stock, valued at approximately $7,933,531.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

M&T Bank Price Performance

Shares of NYSE MTB opened at $207.95 on Friday. The company has a current ratio of 0.94, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. The stock has a market cap of $34.70 billion, a P/E ratio of 15.39, a P/E/G ratio of 2.70 and a beta of 0.74. The stock has a 50 day moving average of $181.20 and a two-hundred day moving average of $163.98. M&T Bank Co. has a twelve month low of $115.93 and a twelve month high of $216.84.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were paid a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 2.60%. M&T Bank’s dividend payout ratio is presently 39.97%.

Analysts Set New Price Targets

Several research analysts recently commented on MTB shares. Morgan Stanley boosted their target price on M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Wolfe Research upgraded shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a research note on Friday, October 4th. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Barclays increased their price objective on shares of M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Finally, Royal Bank of Canada lifted their price objective on shares of M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $198.76.

Hedge Funds Weigh In On M&T Bank

Several institutional investors have recently added to or reduced their stakes in the stock. Ontario Teachers Pension Plan Board grew its stake in shares of M&T Bank by 43.1% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 12,423 shares of the financial services provider’s stock valued at $1,807,000 after purchasing an additional 3,739 shares during the last quarter. Leuthold Group LLC purchased a new position in M&T Bank in the 1st quarter valued at $3,125,000. Price T Rowe Associates Inc. MD increased its stake in M&T Bank by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 331,868 shares of the financial services provider’s stock valued at $48,267,000 after buying an additional 18,566 shares during the period. Gateway Investment Advisers LLC raised its position in M&T Bank by 60.0% during the 2nd quarter. Gateway Investment Advisers LLC now owns 32,799 shares of the financial services provider’s stock worth $4,964,000 after buying an additional 12,304 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of M&T Bank by 178.6% in the 1st quarter. SG Americas Securities LLC now owns 22,362 shares of the financial services provider’s stock worth $3,252,000 after acquiring an additional 14,334 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

About M&T Bank

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.