Kirk W. Walters Sells 16,179 Shares of M&T Bank Co. (NYSE:MTB) Stock

M&T Bank Co. (NYSE:MTB) Director Kirk W. Walters sold 16,179 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $148.01, for a total value of $2,394,653.79. Following the sale, the director now owns 6,348 shares of the company’s stock, valued at approximately $939,567.48. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

M&T Bank Price Performance

Shares of MTB stock opened at $151.28 on Thursday. The stock has a 50 day moving average of $142.27 and a two-hundred day moving average of $135.15. The company has a current ratio of 0.94, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. M&T Bank Co. has a 12 month low of $108.53 and a 12 month high of $151.33. The company has a market capitalization of $25.21 billion, a P/E ratio of 10.23, a P/E/G ratio of 1.23 and a beta of 0.78.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the prior year, the business posted $4.09 EPS. As a group, equities analysts expect that M&T Bank Co. will post 13.92 EPS for the current year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were given a $1.30 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.44%. M&T Bank’s dividend payout ratio is currently 35.16%.

Analysts Set New Price Targets

Several brokerages have recently commented on MTB. UBS Group upped their target price on M&T Bank from $139.00 to $154.00 in a report on Wednesday, January 17th. Keefe, Bruyette & Woods lifted their price objective on shares of M&T Bank from $162.00 to $170.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 16th. Jefferies Financial Group decreased their target price on M&T Bank from $154.00 to $151.00 and set a “hold” rating for the company in a research report on Monday, April 8th. JPMorgan Chase & Co. boosted their price target on M&T Bank from $170.00 to $180.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, Evercore ISI upped their price target on M&T Bank from $146.00 to $157.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $158.48.

Institutional Trading of M&T Bank

Hedge funds have recently modified their holdings of the company. Cozad Asset Management Inc. lifted its position in shares of M&T Bank by 7.2% during the 1st quarter. Cozad Asset Management Inc. now owns 10,706 shares of the financial services provider’s stock worth $1,557,000 after buying an additional 718 shares during the period. Bleakley Financial Group LLC boosted its stake in shares of M&T Bank by 13.2% in the 1st quarter. Bleakley Financial Group LLC now owns 2,980 shares of the financial services provider’s stock valued at $433,000 after purchasing an additional 348 shares in the last quarter. Baron Wealth Management LLC bought a new stake in shares of M&T Bank in the 1st quarter worth about $265,000. Cognios Beta Neutral Large Cap Fund LP acquired a new stake in shares of M&T Bank during the 1st quarter worth about $449,000. Finally, Washington Trust Advisors Inc. lifted its holdings in M&T Bank by 12.9% during the 1st quarter. Washington Trust Advisors Inc. now owns 1,398 shares of the financial services provider’s stock valued at $203,000 after purchasing an additional 160 shares during the last quarter. Institutional investors 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.