M&T Bank Co. Chairman Unloads $1,746,095 in Stock (MTB)
M&T Bank Co. (NYSE:MTB) Chairman Jorge G. Pereira unloaded 14,470 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $120.67, for a total transaction of $1,746,094.90. Following the sale, the chairman now directly owns 4,991 shares of the company’s stock, valued at approximately $602,264. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on MTB shares. 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 equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $124.12.
M&T Bank Co. (NYSE:MTB) traded up 0.18% during mid-day trading on Monday, hitting $120.13. 444,972 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’s 50-day moving average is $123.0 and its 200-day moving average is $119.6. The company has a market cap of $15.852 billion and a price-to-earnings ratio of 16.51.
M&T Bank Co. (NYSE:MTB) last issued its quarterly earnings data on Thursday, July 17th. The company reported $1.98 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.90 by $0.08. During the same quarter last 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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