M&T Bank (NYSE:MTB) Shares Gap Down – Time to Sell?

M&T Bank Co. (NYSE:MTB) shares gapped down prior to trading on Thursday . The stock had previously closed at $200.87, but opened at $195.71. M&T Bank shares last traded at $196.32, with a volume of 228,169 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MTB. Bank of America raised their target price on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research note on Friday, October 18th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods raised their target price on M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler raised their target price on M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Finally, Compass Point lifted their price target on M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $221.68.

M&T Bank Price Performance

The business has a 50 day moving average price of $202.66 and a two-hundred day moving average price of $183.16. The stock has a market cap of $32.67 billion, a PE ratio of 14.57, a P/E/G ratio of 2.16 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. During the same period in the prior year, the firm posted $2.74 EPS. Research analysts expect that M&T Bank Co. will post 14.58 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were issued a $1.35 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.74%. M&T Bank’s dividend payout ratio (DPR) is presently 39.97%.

Insider Buying and Selling

In related news, Vice Chairman Gary N. Geisel sold 2,490 shares of M&T Bank 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 sale, the insider now owns 16,429 shares of the company’s stock, valued at approximately $3,546,856.81. The trade was a 13.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Tracy S. Woodrow sold 2,121 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total transaction of $468,210.75. Following the sale, the executive vice president now directly owns 5,141 shares in the company, valued at $1,134,875.75. The trade was a 29.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 84,994 shares of company stock valued at $17,211,278. 0.82% of the stock is owned by company insiders.

Institutional Investors Weigh In On M&T Bank

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Hedeker Wealth LLC raised its holdings 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 valued at $627,000 after acquiring an additional 55 shares during the period. Frank Rimerman Advisors LLC raised its holdings in M&T Bank by 1.0% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider’s stock valued at $1,005,000 after acquiring an additional 57 shares during the period. Crestwood Advisors Group LLC raised its holdings in M&T Bank by 1.9% during the 3rd quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock valued at $553,000 after acquiring an additional 57 shares during the period. Hexagon Capital Partners LLC raised its holdings in M&T Bank by 54.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 68 shares during the period. Finally, Meitav Investment House Ltd. raised its holdings in M&T Bank by 3.1% during the 3rd quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider’s stock valued at $386,000 after acquiring an additional 69 shares during the period. 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.