Richard H. Jr. Ledgett Sells 1,277 Shares of M&T Bank Corporation (NYSE:MTB) Stock

M&T Bank Corporation (NYSE:MTB - Get Free Report) Director Richard H. Jr. Ledgett sold 1,277 shares of the company's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $197.48, for a total value of $252,181.96. Following the sale, the director owned 4,881 shares in the company, valued at approximately $963,899.88. This trade represents a 20.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

M&T Bank Price Performance

MTB stock traded up $0.08 during trading on Friday, hitting $193.75. The stock had a trading volume of 399,932 shares, compared to its average volume of 1,304,043. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.91 and a quick ratio of 0.97. M&T Bank Corporation has a twelve month low of $150.75 and a twelve month high of $225.70. The stock has a market capitalization of $31.10 billion, a P/E ratio of 12.54, a PEG ratio of 0.96 and a beta of 0.63. The company's 50-day moving average price is $189.40 and its two-hundred day moving average price is $184.51.

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

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.79%. The ex-dividend date was Monday, June 2nd. M&T Bank's dividend payout ratio is currently 34.97%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MTB shares. Piper Sandler reduced their price target on M&T Bank from $220.00 to $210.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Truist Financial dropped their price objective on M&T Bank from $225.00 to $200.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Citigroup increased their price objective on M&T Bank from $200.00 to $212.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Robert W. Baird dropped their price objective on M&T Bank from $220.00 to $200.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $200.00 price objective on shares of M&T Bank in a research note on Monday, May 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $212.88.

Institutional Trading of M&T Bank

Institutional investors have recently made changes to their positions in the company. Teacher Retirement System of Texas purchased a new stake in M&T Bank in the fourth quarter valued at approximately $294,000. Virtu Financial LLC purchased a new stake in M&T Bank in the fourth quarter valued at approximately $630,000. American Century Companies Inc. raised its position in M&T Bank by 0.9% in the fourth quarter. American Century Companies Inc. now owns 67,987 shares of the financial services provider's stock valued at $12,782,000 after purchasing an additional 610 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in M&T Bank in the fourth quarter valued at approximately $10,473,000. Finally, LPL Financial LLC raised its position in M&T Bank by 3.8% in the fourth quarter. LPL Financial LLC now owns 114,066 shares of the financial services provider's stock valued at $21,446,000 after purchasing an additional 4,163 shares during the period. Hedge funds and other institutional investors own 84.68% of the company's stock.

M&T Bank Company Profile

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.