John Barnes Sells 21,193 Shares of M&T Bank (NYSE:MTB) Stock

M&T Bank Corporation (NYSE:MTB) Director John Barnes sold 21,193 shares of the business’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $235.85, for a total transaction of $4,998,369.05. Following the sale, the director owned 15,142 shares in the company, valued at $3,571,240.70. The trade was a 58.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

M&T Bank Stock Performance

Shares of MTB opened at $231.49 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 $239.00. The company has a 50-day simple moving average of $213.00 and a 200-day simple moving average of $198.57. The company has a market capitalization of $35.58 billion, a PE ratio of 13.58, a P/E/G ratio of 1.03 and a beta of 0.60.

M&T Bank (NYSE:MTB) last issued its earnings results on Friday, January 16th. The financial services provider reported $4.72 earnings per share for the quarter, topping the consensus estimate of $4.47 by $0.25. M&T Bank had a net margin of 21.55% and a return on equity of 10.94%. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period in the prior year, the business posted $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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 1st were issued 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 2.6%. M&T Bank’s payout ratio is currently 35.19%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MTB. Wells Fargo & Company raised their price target on M&T Bank from $185.00 to $205.00 and gave the company an “underweight” rating in a research report on Monday, January 5th. Jefferies Financial Group raised their target price on shares of M&T Bank from $250.00 to $255.00 and gave the company a “buy” rating in a report on Friday, January 16th. Truist Financial set a $230.00 price target on shares of M&T Bank in a report on Tuesday, January 20th. Robert W. Baird increased their price target on shares of M&T Bank from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, December 18th. Finally, The Goldman Sachs Group lifted their price objective on M&T Bank from $230.00 to $231.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $228.50.

Institutional Trading of M&T Bank

A number of hedge funds have recently bought and sold shares of the company. Commonwealth Retirement Investments LLC boosted its holdings in shares of M&T Bank by 0.4% during the fourth quarter. Commonwealth Retirement Investments LLC now owns 10,991 shares of the financial services provider’s stock worth $2,214,000 after purchasing an additional 44 shares during the last quarter. Ransom Advisory Ltd lifted its position in M&T Bank by 2.0% during the fourth quarter. Ransom Advisory Ltd now owns 2,513 shares of the financial services provider’s stock worth $506,000 after buying an additional 50 shares during the period. Wedbush Securities Inc. grew its holdings in M&T Bank by 2.4% in the 4th quarter. Wedbush Securities Inc. now owns 2,223 shares of the financial services provider’s stock valued at $448,000 after buying an additional 52 shares during the period. Crestwood Advisors Group LLC grew its holdings in M&T Bank by 1.7% in the 2nd quarter. Crestwood Advisors Group LLC now owns 3,237 shares of the financial services provider’s stock valued at $628,000 after buying an additional 54 shares during the period. Finally, Bank of Jackson Hole Trust increased its stake in shares of M&T Bank by 38.7% during the 4th quarter. Bank of Jackson Hole Trust now owns 215 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 60 shares during the last quarter. Institutional investors and hedge funds 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.