M&T Bank Co. (NYSE:MTB) Director Robert E. Sadler, Jr. Sells 1,000 Shares

M&T Bank Co. (NYSE:MTB) Director Robert E. Sadler, Jr. sold 1,000 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total transaction of $172,230.00. Following the completion of the sale, the director now owns 31,796 shares of the company’s stock, valued at approximately $5,476,225.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

M&T Bank Price Performance

Shares of NYSE:MTB traded up $1.92 on Thursday, reaching $173.60. 1,057,265 shares of the company were exchanged, compared to its average volume of 1,048,051. M&T Bank Co. has a 1-year low of $108.53 and a 1-year high of $176.44. The firm has a market cap of $28.97 billion, a price-to-earnings ratio of 11.73, a price-to-earnings-growth ratio of 4.44 and a beta of 0.77. The company has a 50-day moving average of $151.51 and a 200-day moving average of $144.50. The company has a current ratio of 0.94, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, topping the consensus estimate of $3.50 by $0.23. The business had revenue of $3.37 billion for the quarter, compared to analyst estimates of $2.27 billion. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. During the same period in the prior year, the firm posted $5.12 EPS. Equities analysts forecast that M&T Bank Co. will post 14.16 earnings per share for the current fiscal year.

M&T Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were issued a $1.35 dividend. This is a positive change from M&T Bank’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $5.40 annualized dividend and a yield of 3.11%. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Evercore ISI upped their price target on shares of M&T Bank from $157.00 to $168.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. Bank of America upped their price target on shares of M&T Bank from $160.00 to $188.00 and gave the company a “buy” rating in a research report on Monday. Piper Sandler upped their price objective on shares of M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, July 19th. Finally, Wells Fargo & Company upped their price objective on shares of M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 16th. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, M&T Bank presently has an average rating of “Hold” and a consensus price target of $170.35.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Ontario Teachers Pension Plan Board raised its holdings in M&T Bank by 43.1% in the first quarter. Ontario Teachers Pension Plan Board now owns 12,423 shares of the financial services provider’s stock valued at $1,807,000 after buying an additional 3,739 shares during the period. Leuthold Group LLC acquired a new position in M&T Bank in the first quarter worth $3,125,000. Stevens Capital Management LP acquired a new position in M&T Bank in the fourth quarter worth $320,000. Matrix Asset Advisors Inc. NY boosted its holdings in M&T Bank by 15.7% in the fourth quarter. Matrix Asset Advisors Inc. NY now owns 92,537 shares of the financial services provider’s stock worth $12,685,000 after purchasing an additional 12,590 shares during the period. Finally, Smead Capital Management Inc. bought a new stake in M&T Bank in the fourth quarter valued at $59,418,000. Hedge funds and other 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.