M&T Bank Co. Chairman Jorge G. Pereira Sells 68,289 Shares (MTB)
M&T Bank Co. (NYSE:MTB) Chairman Jorge G. Pereira sold 68,289 shares of the company’s stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $122.74, for a total value of $8,381,791.86. Following the completion of the sale, the chairman now directly owns 4,991 shares of the company’s stock, valued at approximately $612,595. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
MTB has been the subject of a number of recent research reports. Analysts at Keefe, Bruyette & Woods upgraded shares of M&T Bank Co. from a “market perform” rating to an “outperform” rating in a research note on Monday, July 21st. They now have a $141.00 price target on the stock, up previously from $125.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of M&T Bank Co. in a research note on Friday, July 18th. They now have a $128.00 price target on the stock. Finally, analysts at BMO Capital Markets raised their price target on shares of M&T Bank Co. from $118.00 to $120.00 in a research note on Friday, July 18th. They now have a “market perform” rating on the stock. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $124.12.
M&T Bank Co. (NYSE:MTB) traded down 0.99% on Thursday, hitting $121.50. 857,588 shares of the company’s stock traded hands. M&T Bank Co. has a 52-week low of $109.16 and a 52-week high of $125.90. The stock has a 50-day moving average of $123.1 and a 200-day moving average of $119.4. The company has a market cap of $16.032 billion and a price-to-earnings ratio of 16.89.
M&T Bank Co. (NYSE:MTB) last announced its earnings results on Thursday, July 17th. The company reported $1.98 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.90 by $0.08. During the same quarter in the prior year, the company posted $2.55 earnings per share. On average, analysts predict that M&T Bank Co. will post $7.62 earnings per share for the current fiscal year.
M&T Bank Corporation (NYSE:MTB) is a bank holding company.
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