M&T Bank Co. (NYSE:MTB) EVP John L. Dangelo sold 650 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $154.58, for a total value of $100,477.00. Following the completion of the sale, the executive vice president now owns 3,016 shares of the company’s stock, valued at $466,213.28. The transaction was disclosed in a filing with the SEC, which is available through this link.
Shares of MTB stock traded down $0.08 on Wednesday, hitting $155.01. 796,376 shares of the stock traded hands, compared to its average volume of 770,195. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.06 and a quick ratio of 1.06. M&T Bank Co. has a 52 week low of $133.78 and a 52 week high of $178.35. The firm has a 50 day simple moving average of $151.80 and a two-hundred day simple moving average of $163.03. The firm has a market cap of $20.60 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 2.16 and a beta of 1.09.
M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, July 18th. The financial services provider reported $3.34 earnings per share for the quarter, missing the consensus estimate of $3.70 by ($0.36). M&T Bank had a return on equity of 14.26% and a net margin of 29.81%. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the company posted $3.26 EPS. Sell-side analysts forecast that M&T Bank Co. will post 13.88 EPS for the current year.
Several institutional investors have recently made changes to their positions in the company. FMR LLC raised its stake in M&T Bank by 12.5% during the 1st quarter. FMR LLC now owns 6,691,210 shares of the financial services provider’s stock valued at $1,050,653,000 after purchasing an additional 744,208 shares during the period. Geode Capital Management LLC grew its holdings in M&T Bank by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 2,013,252 shares of the financial services provider’s stock valued at $287,704,000 after buying an additional 95,142 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of M&T Bank by 54,440.2% during the second quarter. Nuveen Asset Management LLC now owns 1,993,989 shares of the financial services provider’s stock valued at $339,118,000 after buying an additional 1,990,333 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of M&T Bank by 1.5% during the second quarter. Wells Fargo & Company MN now owns 1,635,419 shares of the financial services provider’s stock valued at $278,136,000 after buying an additional 24,948 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of M&T Bank by 2.0% in the second quarter. Northern Trust Corp now owns 1,548,635 shares of the financial services provider’s stock worth $263,376,000 after buying an additional 30,412 shares in the last quarter. Institutional investors and hedge funds own 82.11% of the company’s stock.
A number of equities analysts recently commented on MTB shares. Barclays decreased their target price on M&T Bank from $217.00 to $206.00 and set an “overweight” rating on the stock in a report on Friday, July 19th. Keefe, Bruyette & Woods cut their price target on M&T Bank from $189.00 to $185.00 and set an “outperform” rating for the company in a report on Friday, July 19th. Citigroup reduced their price target on M&T Bank from $163.00 to $155.00 and set a “sell” rating for the company in a research report on Monday. Macquarie set a $158.00 price objective on M&T Bank and gave the stock a “sell” rating in a research note on Friday, July 19th. Finally, UBS Group decreased their price objective on M&T Bank from $176.00 to $172.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $176.77.
M&T Bank Company Profile
M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.
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