Insider Selling: Gino A. Martocci Sells 1,100 Shares of M&T Bank Corp. Stock (MTB)
M&T Bank Corp. (NYSE:MTB) EVP Gino A. Martocci sold 1,100 shares of the company’s stock on the open market in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $111.44, for a total value of $122,584.00. Following the completion of the sale, the executive vice president now directly owns 11,802 shares in the company, valued at approximately $1,315,215. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of M&T Bank Corp. (NYSE:MTB) traded up 0.52% on Friday, hitting $113.00. The stock had a trading volume of 771,032 shares. M&T Bank Corp. has a 52 week low of $95.68 and a 52 week high of $119.54. The stock’s 50-day moving average is $113.7 and its 200-day moving average is $114.1. The company has a market cap of $14.754 billion and a P/E ratio of 13.42.
M&T Bank Corp. (NYSE:MTB) last posted its quarterly earnings results on Friday, January 17th. The company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.94 by $0.20. During the same quarter in the previous year, the company posted $2.16 earnings per share. On average, analysts predict that M&T Bank Corp. will post $7.74 earnings per share for the current fiscal year.
A number of research firms have recently commented on MTB. Analysts at Citigroup Inc. raised their price target on shares of M&T Bank Corp. from $112.00 to $120.00 in a research note to investors on Monday. Separately, analysts at Raymond James downgraded shares of M&T Bank Corp. from an “outperform” rating to a “market perform” rating in a research note to investors on Tuesday, January 21st. They now have a $120.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of M&T Bank Corp. in a research note to investors on Monday, January 20th. They now have a $118.00 price target on the stock. Thirteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. M&T Bank Corp. presently has an average rating of “Hold” and a consensus target price of $122.24.
M&T Bank Corporation (NYSE:MTB) is a bank holding company.
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