M&T Bank Co. (NYSE:MTB) EVP Tracy S. Woodrow Sells 2,121 Shares

M&T Bank Co. (NYSE:MTB) EVP Tracy S. Woodrow sold 2,121 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total value of $468,210.75. Following the completion of the sale, the executive vice president now directly owns 5,141 shares of the company’s stock, valued at $1,134,875.75. This trade represents a 29.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

M&T Bank Stock Performance

NYSE:MTB opened at $219.99 on Friday. M&T Bank Co. has a 52 week low of $125.61 and a 52 week high of $225.70. The company has a fifty day simple moving average of $196.45 and a two-hundred day simple moving average of $171.86. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. The company has a market cap of $36.50 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 3.11 and a beta of 0.74.

M&T Bank (NYSE:MTB) last released its earnings results on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, topping the consensus estimate of $3.60 by $0.48. The firm had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. As a group, equities analysts anticipate that M&T Bank Co. will post 14.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.45%. M&T Bank’s payout ratio is 39.97%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Piper Sandler raised their price objective on shares of M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a research report on Wednesday. Wells Fargo & Company increased their price target on shares of M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a research note on Friday, November 15th. The Goldman Sachs Group lifted their price target on shares of M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a research report on Tuesday. Wolfe Research upgraded M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective for the company in a research report on Friday, October 4th. Finally, Evercore ISI lifted their target price on M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and an average target price of $206.41.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MTB. Price T Rowe Associates Inc. MD grew its stake in shares of M&T Bank by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 331,868 shares of the financial services provider’s stock worth $48,267,000 after purchasing an additional 18,566 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in shares of M&T Bank by 18.8% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 5,785 shares of the financial services provider’s stock valued at $841,000 after acquiring an additional 915 shares during the last quarter. Citizens Financial Group Inc. RI acquired a new stake in shares of M&T Bank during the 1st quarter worth about $203,000. Swedbank AB purchased a new stake in M&T Bank during the first quarter worth approximately $1,376,000. Finally, Atria Investments Inc acquired a new position in M&T Bank in the first quarter valued at approximately $1,014,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

About M&T Bank

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.