The 14,496 Shares of Stock are sold by M&T Bank Corp. (MTB) Insider Richard S. Gold

The 14,496 Shares of Stock are sold by M&T Bank Corp. (MTB) Insider Richard S. Gold

M&T Bank Corp. (NYSE:MTB) insider Richard S. Gold sold 14,496 shares of M&T Bank Corp. stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $120.52, for a total value of $1,747,057.92. Following the sale, the insider now directly owns 49,370 shares in the company, valued at $5,950,072.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

M&T Bank Corp. (NYSE:MTB) opened at 122.07 on Monday. M&T Bank Corp. has a 52-week low of $100.08 and a 52-week high of $127.39. The stock has a market capitalization of $18.92 billion, a PE ratio of 16.38 and a beta of 0.75. The firm’s 50-day moving average is $116.77 and its 200 day moving average is $116.62.

M&T Bank Corp. (NYSE:MTB) last announced its quarterly earnings data on Wednesday, October 19th. The company reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.09. M&T Bank Corp. had a net margin of 22.32% and a return on equity of 8.59%. During the same period in the prior year, the firm posted $1.93 earnings per share. On average, equities analysts forecast that M&T Bank Corp. will post $7.89 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in MTB. Franklin Resources Inc. increased its position in shares of M&T Bank Corp. by 7.6% in the first quarter. Franklin Resources Inc. now owns 37,308 shares of the company’s stock worth $4,141,000 after buying an additional 2,622 shares during the period. Pictet Asset Management Ltd. increased its position in shares of M&T Bank Corp. by 1.1% in the first quarter. Pictet Asset Management Ltd. now owns 79,496 shares of the company’s stock worth $8,152,000 after buying an additional 900 shares during the period. AXA increased its position in shares of M&T Bank Corp. by 7.0% in the first quarter. AXA now owns 117,200 shares of the company’s stock worth $13,009,000 after buying an additional 7,700 shares during the period. Loomis Sayles & Co. L P increased its position in shares of M&T Bank Corp. by 9.9% in the first quarter. Loomis Sayles & Co. L P now owns 308,098 shares of the company’s stock worth $34,199,000 after buying an additional 27,699 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of M&T Bank Corp. by 2.1% in the first quarter. Geode Capital Management LLC now owns 1,301,841 shares of the company’s stock worth $144,220,000 after buying an additional 26,974 shares during the period. 80.37% of the stock is owned by institutional investors.

A number of equities analysts recently commented on MTB shares. JPMorgan Chase & Co. lifted their price target on M&T Bank Corp. from $120.00 to $123.00 and gave the stock a “neutral” rating in a research note on Thursday, July 7th. Nomura downgraded M&T Bank Corp. to a “hold” rating in a research note on Saturday, July 9th. Zacks Investment Research upgraded M&T Bank Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, September 20th. Wells Fargo & Co. reiterated a “hold” rating on shares of M&T Bank Corp. in a research note on Saturday, July 9th. Finally, FBR & Co lifted their price target on M&T Bank Corp. from $115.00 to $120.00 and gave the stock a “mkt perform” rating in a research note on Thursday, October 20th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $140.72.

About M&T Bank Corp.

Related posts

Leave a Comment