Gary Geisel Sells 887 Shares of M&T Bank (NYSE:MTB) Stock

M&T Bank Corporation (NYSE:MTB) Vice Chairman Gary Geisel sold 887 shares of M&T Bank stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $215.79, for a total value of $191,405.73. Following the sale, the insider directly owned 16,446 shares in the company, valued at approximately $3,548,882.34. The trade was a 5.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

M&T Bank Trading Up 0.2%

MTB opened at $221.89 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.90 and a debt-to-equity ratio of 0.41. M&T Bank Corporation has a 52 week low of $150.75 and a 52 week high of $222.83. The stock has a market cap of $34.10 billion, a PE ratio of 13.01, a PEG ratio of 0.97 and a beta of 0.59. The business has a 50 day moving average of $205.52 and a 200-day moving average of $196.21.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.47 by $0.25. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.47 billion. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.During the same quarter in the prior year, the company earned $3.77 earnings per share. Equities research analysts predict that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 1st were paid a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $6.00 annualized dividend and a yield of 2.7%. M&T Bank’s payout ratio is presently 35.19%.

Analyst Ratings Changes

A number of analysts have recently commented on MTB shares. Cantor Fitzgerald boosted their price target on M&T Bank from $228.00 to $238.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Jefferies Financial Group boosted their target price on M&T Bank from $250.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, January 16th. Royal Bank Of Canada increased their target price on M&T Bank from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday, January 16th. Piper Sandler lifted their price target on M&T Bank from $225.00 to $235.00 in a research report on Friday, January 16th. Finally, Wolfe Research cut shares of M&T Bank from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $224.29.

Hedge Funds Weigh In On M&T Bank

Hedge funds have recently bought and sold shares of the business. Bank of Jackson Hole Trust boosted its holdings in shares of M&T Bank by 342.9% during the 3rd quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 120 shares during the last quarter. Triumph Capital Management bought a new position in M&T Bank during the third quarter valued at approximately $32,000. Golden State Wealth Management LLC boosted its holdings in M&T Bank by 2,214.3% in the second quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 155 shares during the last quarter. Ameriflex Group Inc. grew its position in M&T Bank by 82.4% in the 3rd quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 84 shares during the period. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in M&T Bank during the 2nd quarter valued at $36,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Company Profile

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.