M&T Bank Co. (NYSE:MTB - Get Free Report) Vice Chairman Gary N. Geisel sold 2,490 shares of the company's stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total value of $537,566.10. Following the transaction, the insider now owns 16,429 shares of the company's stock, valued at approximately $3,546,856.81. This represents a 13.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
M&T Bank Trading Up 0.3 %
NYSE MTB opened at $212.42 on Friday. M&T Bank Co. has a 12 month low of $128.31 and a 12 month high of $225.70. The stock has a market cap of $35.24 billion, a P/E ratio of 15.72, a P/E/G ratio of 3.02 and a beta of 0.76. The stock's fifty day moving average price is $199.53 and its 200-day moving average price is $173.51. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44.
M&T Bank (NYSE:MTB - Get Free Report) last released its earnings results on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, topping analysts' consensus estimates of $3.60 by $0.48. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. The firm had revenue of $2.33 billion for the quarter, compared to analysts' expectations of $2.30 billion. As a group, equities analysts forecast that M&T Bank Co. will post 14.57 EPS for the current fiscal year.
M&T Bank Dividend Announcement
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The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be paid a $1.35 dividend. The ex-dividend date is Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.54%. M&T Bank's dividend payout ratio is currently 39.97%.
Institutional Investors Weigh In On M&T Bank
Institutional investors have recently modified their holdings of the business. Plato Investment Management Ltd boosted its position in shares of M&T Bank by 2,300.0% during the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider's stock valued at $30,000 after buying an additional 161 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of M&T Bank during the third quarter valued at $32,000. Hexagon Capital Partners LLC boosted its position in shares of M&T Bank by 54.4% during the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider's stock valued at $34,000 after buying an additional 68 shares during the last quarter. Oakworth Capital Inc. purchased a new stake in shares of M&T Bank during the second quarter valued at $35,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of M&T Bank by 329.2% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider's stock valued at $37,000 after buying an additional 158 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on MTB. Piper Sandler upped their target price on M&T Bank from $205.00 to $243.00 and gave the company an "overweight" rating in a report on Wednesday, November 27th. Bank of America upped their target price on M&T Bank from $188.00 to $218.00 and gave the company a "buy" rating in a report on Friday, October 18th. Citigroup downgraded M&T Bank from a "buy" rating to a "neutral" rating and upped their target price for the company from $220.00 to $230.00 in a report on Monday, November 25th. Royal Bank of Canada upped their target price on M&T Bank from $190.00 to $208.00 and gave the company an "outperform" rating in a report on Friday, October 18th. Finally, Wolfe Research upgraded M&T Bank from a "peer perform" rating to an "outperform" rating and set a $210.00 target price for the company in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, M&T Bank currently has a consensus rating of "Hold" and an average price target of $209.32.
View Our Latest Stock Report on MTB
About M&T Bank
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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.
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