M&T Bank Co. (NYSE:MTB) EVP Sells $299,526.92 in Stock

M&T Bank Co. (NYSE:MTB - Get Free Report) EVP Christopher E. Kay sold 1,738 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total transaction of $299,526.92. Following the sale, the executive vice president now owns 10,751 shares of the company's stock, valued at approximately $1,852,827.34. The trade was a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

M&T Bank Stock Performance

M&T Bank stock traded down $0.60 during trading hours on Tuesday, reaching $174.82. 1,288,770 shares of the stock were exchanged, compared to its average volume of 1,018,891. The stock has a market cap of $28.72 billion, a P/E ratio of 11.95, a P/E/G ratio of 1.38 and a beta of 0.74. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. M&T Bank Co. has a 52-week low of $133.03 and a 52-week high of $225.70. The firm's 50 day moving average is $192.09 and its 200 day moving average is $192.19.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, topping analysts' consensus estimates of $3.70 by $0.22. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same quarter in the prior year, the company posted $2.74 earnings per share. Analysts predict that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

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M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 3.09%. M&T Bank's payout ratio is currently 36.91%.

M&T Bank declared that its Board of Directors has approved a share buyback program on Wednesday, January 22nd that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 12.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board believes its shares are undervalued.

Analyst Ratings Changes

MTB has been the subject of a number of recent analyst reports. Citigroup cut shares of M&T Bank from a "buy" rating to a "neutral" rating and lifted their price target for the company from $220.00 to $230.00 in a research report on Monday, November 25th. DA Davidson lifted their price target on shares of M&T Bank from $222.00 to $223.00 and gave the company a "neutral" rating in a research report on Friday, January 17th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $223.50 price objective (up previously from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. Piper Sandler raised their price objective on shares of M&T Bank from $205.00 to $243.00 and gave the company an "overweight" rating in a research note on Wednesday, November 27th. Finally, Barclays raised their price objective on shares of M&T Bank from $228.00 to $235.00 and gave the company an "equal weight" rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, M&T Bank presently has an average rating of "Hold" and an average target price of $222.03.

Hedge Funds Weigh In On M&T Bank

Large investors have recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. increased its holdings in shares of M&T Bank by 34.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 7,835 shares of the financial services provider's stock valued at $1,473,000 after purchasing an additional 2,018 shares in the last quarter. Flagship Harbor Advisors LLC increased its holdings in shares of M&T Bank by 89.8% in the 4th quarter. Flagship Harbor Advisors LLC now owns 2,737 shares of the financial services provider's stock valued at $515,000 after purchasing an additional 1,295 shares in the last quarter. US Bancorp DE increased its holdings in shares of M&T Bank by 24.3% in the 4th quarter. US Bancorp DE now owns 8,382 shares of the financial services provider's stock valued at $1,576,000 after purchasing an additional 1,639 shares in the last quarter. Summit Trail Advisors LLC purchased a new position in shares of M&T Bank in the 4th quarter valued at about $290,000. Finally, Smead Capital Management Inc. increased its holdings in shares of M&T Bank by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 493,817 shares of the financial services provider's stock valued at $87,959,000 after purchasing an additional 16,657 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company's stock.

About M&T Bank

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management and investment services. It operates through the following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.