Insider Selling: M&T Bank Co. Chairman Sells 17,241 Shares of Stock (MTB)
M&T Bank Co. (NYSE:MTB) Chairman Jorge G. Pereira unloaded 17,241 shares of M&T Bank Co. stock on the open market in a transaction dated Monday, August 4th. The stock was sold at an average price of $119.49, for a total transaction of $2,060,127.09. Following the completion of the sale, the chairman now directly owns 4,991 shares in the company, valued at approximately $596,375. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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 issued a buy rating to the company. M&T Bank Co. has a consensus rating of “Hold” and a consensus target price of $124.12.
Shares of M&T Bank Co. (NYSE:MTB) traded up 0.20% on Wednesday, hitting $120.03. 322,124 shares of the company’s stock traded hands. M&T Bank Co. has a 1-year low of $109.16 and a 1-year high of $125.90. The stock has a 50-day moving average of $122.8 and a 200-day moving average of $119.7. The company has a market cap of $15.838 billion and a price-to-earnings ratio of 16.49.
M&T Bank Co. (NYSE:MTB) last issued its quarterly earnings data on Thursday, July 17th. The company reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.08. During the same quarter in the previous 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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