M&T Bank Corporation (NYSE:MTB) EVP Peter D'arcy Sells 2,461 Shares

M&T Bank Corporation (NYSE:MTB - Get Free Report) EVP Peter D'arcy sold 2,461 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $197.31, for a total transaction of $485,579.91. Following the completion of the sale, the executive vice president directly owned 9,319 shares in the company, valued at approximately $1,838,731.89. This represents a 20.89% 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 Stock Performance

M&T Bank stock traded down $1.76 during midday trading on Thursday, hitting $194.05. 814,860 shares of the company's stock were exchanged, compared to its average volume of 1,310,663. M&T Bank Corporation has a 12-month low of $150.75 and a 12-month 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 0.91. The stock has a market cap of $31.15 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 0.97 and a beta of 0.63. The firm's 50 day simple moving average is $189.27 and its 200 day simple moving average is $184.51.

M&T Bank (NYSE:MTB - Get Free Report) last issued its earnings results on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share for the quarter, beating the consensus estimate of $4.04 by $0.24. The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.39 billion. M&T Bank had a net margin of 20.44% and a return on equity of 10.35%. During the same quarter in the previous year, the firm earned $3.73 earnings per share. Equities research analysts predict that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.78%. The ex-dividend date was Monday, June 2nd. M&T Bank's payout ratio is 34.97%.

Institutional Trading of M&T Bank

Several hedge funds and other institutional investors have recently made changes to their positions in MTB. Wellington Management Group LLP boosted its holdings in shares of M&T Bank by 33.1% in the first quarter. Wellington Management Group LLP now owns 9,894,065 shares of the financial services provider's stock valued at $1,768,564,000 after acquiring an additional 2,460,315 shares in the last quarter. FMR LLC boosted its holdings in shares of M&T Bank by 14.3% in the fourth quarter. FMR LLC now owns 14,110,412 shares of the financial services provider's stock valued at $2,652,899,000 after acquiring an additional 1,761,014 shares in the last quarter. Norges Bank purchased a new stake in shares of M&T Bank in the fourth quarter valued at about $317,690,000. Nuveen LLC purchased a new stake in shares of M&T Bank in the first quarter valued at about $243,451,000. Finally, GAMMA Investing LLC boosted its holdings in shares of M&T Bank by 18,471.2% in the first quarter. GAMMA Investing LLC now owns 705,705 shares of the financial services provider's stock valued at $126,145,000 after acquiring an additional 701,905 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Cowen initiated coverage on shares of M&T Bank in a research report on Wednesday, May 14th. They issued a "buy" rating on the stock. Truist Financial decreased their price objective on shares of M&T Bank from $225.00 to $200.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. JPMorgan Chase & Co. decreased their price objective on shares of M&T Bank from $212.50 to $186.50 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Wells Fargo & Company upped their price objective on shares of M&T Bank from $175.00 to $185.00 and gave the company an "underweight" rating in a research note on Thursday, July 17th. Finally, Royal Bank Of Canada restated 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 analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, M&T Bank currently has a consensus rating of "Moderate Buy" and a consensus target price of $212.88.

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.

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