M&T Bank Co. CFO Rene F. Jones Sells 4,800 Shares (MTB)
M&T Bank Co. (NYSE:MTB) CFO Rene F. Jones sold 4,800 shares of M&T Bank Co. stock on the open market in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $123.09, for a total value of $590,832.00. Following the completion of the sale, the chief financial officer now directly owns 43,329 shares in the company, valued at approximately $5,333,367. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on MTB. Analysts at Zacks reiterated a “neutral” rating on shares of M&T Bank Co. in a research note on Friday, May 30th. They now have a $127.00 price target on the stock. Separately, analysts at Sterne Agee initiated coverage on shares of M&T Bank Co. in a research note on Friday, May 30th. They set a “neutral” rating on the stock. Finally, analysts at Nomura initiated coverage on shares of M&T Bank Co. in a research note on Wednesday, May 14th. They set a “buy” rating and a $146.00 price target on the stock. Fourteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $121.85.
Shares of M&T Bank Co. (NYSE:MTB) traded up 1.43% on Tuesday, hitting $123.68. The stock had a trading volume of 670,845 shares. M&T Bank Co. has a 1-year low of $102.36 and a 1-year high of $125.90. The stock has a 50-day moving average of $121.6 and a 200-day moving average of $117.6. The company has a market cap of $16.262 billion and a P/E ratio of 15.58.
M&T Bank Co. (NYSE:MTB) last posted its quarterly earnings results on Monday, April 14th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.04. During the same quarter in the previous year, the company posted $2.06 earnings per share. Analysts expect that M&T Bank Co. will post $7.64 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, June 30th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Thursday, May 29th.
M&T Bank Corporation (NYSE:MTB) is a bank holding company.
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