M&T Bank Co. (NYSE:MTB) Director Sells $3,879,400.00 in Stock

M&T Bank Co. (NYSE:MTB) Director John P. Barnes sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $193.97, for a total value of $3,879,400.00. Following the transaction, the director now owns 49,960 shares of the company’s stock, valued at $9,690,741.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

M&T Bank Stock Performance

Shares of MTB stock opened at $194.50 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $32.45 billion, a price-to-earnings ratio of 13.15, a P/E/G ratio of 3.27 and a beta of 0.75. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $200.94. The firm’s 50-day simple moving average is $174.96 and its two-hundred day simple moving average is $159.94.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a $1.35 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.78%. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

Analyst Upgrades and Downgrades

MTB has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. DA Davidson raised their target price on M&T Bank from $192.00 to $207.00 and gave the company a “neutral” rating in a research note on Monday. Evercore ISI upgraded M&T Bank from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $187.00 to $210.00 in a report on Wednesday, October 2nd. Wells Fargo & Company boosted their price target on shares of M&T Bank from $165.00 to $190.00 and gave the company an “underweight” rating in a research note on Friday, October 18th. Finally, The Goldman Sachs Group lifted their price objective on shares of M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $197.47.

Hedge Funds Weigh In On M&T Bank

Institutional investors and hedge funds have recently bought and sold shares of the company. Leuthold Group LLC grew its stake in shares of M&T Bank by 34.6% during the 3rd quarter. Leuthold Group LLC now owns 28,660 shares of the financial services provider’s stock worth $5,105,000 after acquiring an additional 7,370 shares during the period. Canoe Financial LP lifted its holdings in M&T Bank by 29.4% during the third quarter. Canoe Financial LP now owns 588,302 shares of the financial services provider’s stock valued at $103,200,000 after purchasing an additional 133,748 shares during the last quarter. State of Alaska Department of Revenue boosted its position in M&T Bank by 6.9% during the third quarter. State of Alaska Department of Revenue now owns 19,399 shares of the financial services provider’s stock worth $3,455,000 after purchasing an additional 1,255 shares during the period. Frank Rimerman Advisors LLC increased its stake in shares of 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 in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in shares of M&T Bank by 1.2% in the third quarter. DekaBank Deutsche Girozentrale now owns 30,240 shares of the financial services provider’s stock valued at $5,272,000 after purchasing an additional 361 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.