M&T Bank Corporation (NYSE:MTB) VP Michele D. Trolli sold 8,908 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $164.25, for a total value of $1,463,139.00. Following the completion of the transaction, the vice president now owns 23,091 shares in the company, valued at $3,792,696.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of M&T Bank Corporation (NYSE:MTB) traded up 0.46% during midday trading on Tuesday, reaching $164.37. The company’s stock had a trading volume of 570,610 shares. The stock has a market capitalization of $25.07 billion, a PE ratio of 19.25 and a beta of 0.77. M&T Bank Corporation has a 52 week low of $112.25 and a 52 week high of $173.72. The company has a 50 day moving average price of $162.39 and a 200-day moving average price of $160.59.

M&T Bank Corporation (NYSE:MTB) last released its earnings results on Wednesday, July 19th. The bank reported $2.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.27 by $0.08. M&T Bank Corporation had a net margin of 24.10% and a return on equity of 9.48%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the company posted $2.07 EPS. The business’s revenue was up 6.6% on a year-over-year basis. On average, equities research analysts expect that M&T Bank Corporation will post $9.27 EPS for the current year.

M&T Bank Corporation declared that its board has authorized a share buyback program on Wednesday, June 28th that allows the company to repurchase $900.00 million in outstanding shares. This repurchase authorization allows the bank to purchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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Several equities analysts have recently commented on the company. Macquarie downgraded M&T Bank Corporation from a “neutral” rating to an “underperform” rating in a research report on Friday. BidaskClub downgraded M&T Bank Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $167.00 target price on shares of M&T Bank Corporation in a research report on Friday, July 21st. Instinet reiterated a “neutral” rating and issued a $144.00 target price on shares of M&T Bank Corporation in a research report on Wednesday, July 12th. Finally, Jefferies Group LLC upgraded M&T Bank Corporation from a “hold” rating to a “buy” rating and boosted their target price for the stock from $174.00 to $186.00 in a research report on Tuesday, July 11th. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $160.40.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTB. Macquarie Group Ltd. raised its position in M&T Bank Corporation by 14.0% in the fourth quarter. Macquarie Group Ltd. now owns 4,900 shares of the bank’s stock worth $767,000 after buying an additional 600 shares during the period. Chevy Chase Trust Holdings Inc. raised its stake in M&T Bank Corporation by 2.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 136,512 shares of the bank’s stock valued at $21,122,000 after buying an additional 3,343 shares during the last quarter. Creative Planning raised its stake in M&T Bank Corporation by 0.7% in the first quarter. Creative Planning now owns 10,812 shares of the bank’s stock valued at $1,673,000 after buying an additional 74 shares during the last quarter. Gulf International Bank UK Ltd raised its stake in M&T Bank Corporation by 1.1% in the first quarter. Gulf International Bank UK Ltd now owns 44,422 shares of the bank’s stock valued at $6,873,000 after buying an additional 470 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in M&T Bank Corporation by 28.5% in the first quarter. Bank of Montreal Can now owns 380,770 shares of the bank’s stock valued at $58,918,000 after buying an additional 84,364 shares during the last quarter. 79.63% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Corporation Company Profile

M&T Bank Corporation (M&T) is a bank holding company. As of December 31, 2016, M&T had two bank subsidiaries: Manufacturers and Traders Trust Company (M&T Bank) and Wilmington Trust, National Association (Wilmington Trust, N.A.). The Company, along with its subsidiaries, offers a range of retail and commercial banking, trust and wealth management, and investment services.

Insider Buying and Selling by Quarter for M&T Bank Corporation (NYSE:MTB)

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