Insider Selling: M&T Bank (NYSE:MTB) Director Sells 623 Shares of Stock

Key Points

• M&T Bank director Rudina Seseri sold 623 shares at an average price of $241.04, for total proceeds of approximately $150,168. The transaction reduced her direct holdings by 14.58% to 3,649 shares.
• M&T Bank recently exceeded quarterly earnings expectations, reporting $5.35 in earnings per share versus the $4.66 consensus estimate, alongside $2.53 billion in revenue.
• The company declared a quarterly dividend of $1.50 per share, or $6.00 annualized, representing a 2.5% yield; analysts’ consensus rating is “Hold” with an average price target of $253.43.

M&T Bank Corporation (NYSE:MTB - Get Free Report) Director Rudina Seseri sold 623 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $241.04, for a total value of $150,167.92. Following the completion of the sale, the director directly owned 3,649 shares of the company's stock, valued at $879,554.96. This trade represents a 14.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

M&T Bank Stock Down 0.4%

MTB traded down $0.99 during trading on Tuesday, hitting $240.80. 369,520 shares of the company's stock were exchanged, compared to its average volume of 1,138,245. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.53. The business's 50 day moving average is $243.51 and its two-hundred day moving average is $225.64. The stock has a market cap of $34.78 billion, a P/E ratio of 12.70, a PEG ratio of 1.11 and a beta of 0.57. M&T Bank Corporation has a fifty-two week low of $174.76 and a fifty-two week high of $255.95.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share for the quarter, beating the consensus estimate of $4.66 by $0.69. The business had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.46 billion. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. During the same quarter last year, the firm earned $4.28 EPS. As a group, equities analysts expect that M&T Bank Corporation will post 19.43 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 1st. M&T Bank's dividend payout ratio is presently 31.68%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC lifted its position in M&T Bank by 11.9% during the first quarter. Empowered Funds LLC now owns 3,396 shares of the financial services provider's stock valued at $607,000 after purchasing an additional 362 shares during the period. Woodline Partners LP grew its holdings in M&T Bank by 40.7% during the 1st quarter. Woodline Partners LP now owns 14,018 shares of the financial services provider's stock valued at $2,506,000 after buying an additional 4,054 shares in the last quarter. Lazard Asset Management LLC lifted its stake in M&T Bank by 24.6% in the 2nd quarter. Lazard Asset Management LLC now owns 2,900 shares of the financial services provider's stock worth $562,000 after purchasing an additional 572 shares in the last quarter. MUFG Securities EMEA plc bought a new position in M&T Bank during the second quarter valued at approximately $92,000. Finally, Geneos Wealth Management Inc. grew its holdings in shares of M&T Bank by 4.3% in the second quarter. Geneos Wealth Management Inc. now owns 1,727 shares of the financial services provider's stock valued at $335,000 after purchasing an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company's stock.

Analysts Set New Price Targets

MTB has been the topic of a number of research reports. Wells Fargo & Company lifted their price target on shares of M&T Bank from $215.00 to $224.00 and gave the stock an "underweight" rating in a report on Thursday, July 16th. Cantor Fitzgerald upped their target price on M&T Bank from $262.00 to $285.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 19th. Jefferies Financial Group reiterated a "buy" rating and issued a $300.00 target price on shares of M&T Bank in a research report on Wednesday, July 15th. DA Davidson lifted their price target on shares of M&T Bank from $263.00 to $266.00 and gave the stock a "neutral" rating in a research note on Thursday, July 16th. Finally, Royal Bank Of Canada lifted their price objective on M&T Bank from $230.00 to $255.00 and gave the stock an "outperform" rating in a report on Thursday, July 16th. Seven analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $253.43.

About M&T Bank

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.

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