John P. Barnes Sells 20,000 Shares of M&T Bank Co. (NYSE:MTB) Stock

M&T Bank Co. (NYSE:MTB) Director John P. Barnes sold 20,000 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $193.97, for a total transaction of $3,879,400.00. Following the transaction, the director now owns 49,960 shares in the company, valued at $9,690,741.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

M&T Bank Trading Down 1.0 %

Shares of NYSE:MTB opened at $192.57 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.44. The company’s 50-day moving average price is $175.61 and its 200 day moving average price is $160.18. The company has a market cap of $32.13 billion, a PE ratio of 13.02, a P/E/G ratio of 3.27 and a beta of 0.75. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $200.94.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a dividend yield of 2.80%. M&T Bank’s dividend payout ratio is presently 36.51%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MTB shares. Piper Sandler upped their target price on shares of M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Royal Bank of Canada upped their price objective on M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Jefferies Financial Group lifted their target price on M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. upgraded M&T Bank from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $183.00 to $215.00 in a report on Tuesday, September 3rd. Finally, Keefe, Bruyette & Woods raised their price objective on M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $197.47.

Hedge Funds Weigh In On M&T Bank

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hedeker Wealth LLC boosted its position in M&T Bank by 1.6% during the 3rd quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider’s stock worth $627,000 after acquiring an additional 55 shares during the period. Frank Rimerman Advisors LLC lifted its holdings in M&T Bank by 1.0% in the third quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider’s stock worth $1,005,000 after purchasing an additional 57 shares during the period. Hexagon Capital Partners LLC lifted its holdings in M&T Bank by 54.4% in the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 68 shares during the period. Meeder Advisory Services Inc. increased its stake in M&T Bank by 3.9% during the 1st quarter. Meeder Advisory Services Inc. now owns 1,879 shares of the financial services provider’s stock valued at $273,000 after buying an additional 70 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its stake in M&T Bank by 1.5% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 4,711 shares of the financial services provider’s stock valued at $713,000 after buying an additional 70 shares during the period. 84.68% of the stock is owned by institutional investors.

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.