Insider Selling: M&T Bank (NYSE:MTB) Director Sells 15,000 Shares of Stock

M&T Bank Corporation (NYSE:MTB) Director John Barnes sold 15,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $199.79, for a total value of $2,996,850.00. Following the sale, the director directly owned 17,866 shares of the company’s stock, valued at $3,569,448.14. This represents a 45.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

M&T Bank Trading Up 1.2%

NYSE:MTB traded up $2.46 on Tuesday, hitting $200.35. 878,030 shares of the stock were exchanged, compared to its average volume of 1,248,029. The stock has a market capitalization of $31.31 billion, a price-to-earnings ratio of 12.98, a P/E/G ratio of 0.98 and a beta of 0.63. M&T Bank Corporation has a 52 week low of $150.75 and a 52 week high of $225.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.97 and a current ratio of 0.97. The company’s 50-day moving average price is $193.08 and its 200 day moving average price is $183.39.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share for the quarter, topping the consensus estimate of $4.04 by $0.24. The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.39 billion. M&T Bank had a return on equity of 10.35% and a net margin of 20.44%.During the same period in the previous year, the business posted $3.73 EPS. On average, equities research analysts forecast that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $6.00 annualized dividend and a yield of 3.0%. This is an increase from M&T Bank’s previous quarterly dividend of $1.35. M&T Bank’s dividend payout ratio (DPR) is presently 34.97%.

Institutional Trading of M&T Bank

Large investors have recently bought and sold shares of the business. Wealth Preservation Advisors LLC bought a new stake in M&T Bank during the 1st quarter worth approximately $25,000. WPG Advisers LLC bought a new stake in M&T Bank during the 1st quarter worth approximately $25,000. Wood Tarver Financial Group LLC bought a new stake in M&T Bank during the 4th quarter worth approximately $29,000. Golden State Wealth Management LLC increased its stake in M&T Bank by 2,214.3% during the 2nd quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 155 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in M&T Bank during the 2nd quarter worth approximately $36,000. 84.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MTB shares. Cowen started coverage on M&T Bank in a report on Wednesday, May 14th. They set a “buy” rating for the company. Citigroup boosted their price objective on M&T Bank from $200.00 to $212.00 and gave the stock a “neutral” rating in a report on Wednesday, July 2nd. Wall Street Zen raised M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of M&T Bank in a research note on Monday, May 19th. Finally, Morgan Stanley upped their price target on M&T Bank from $206.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, June 20th. Thirteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $212.88.

About M&T Bank

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.