M&T Bank Co. (NYSE:MTB) Director Denis J. Salamone sold 15,755 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $167.50, for a total value of $2,638,962.50. Following the completion of the transaction, the director now owns 90,293 shares in the company, valued at approximately $15,124,077.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of MTB opened at $167.59 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.06 and a debt-to-equity ratio of 0.48. M&T Bank Co. has a 1 year low of $133.78 and a 1 year high of $176.11. The stock has a market cap of $22.21 billion, a P/E ratio of 13.03, a price-to-earnings-growth ratio of 1.35 and a beta of 1.11. The stock’s 50-day moving average price is $156.87 and its two-hundred day moving average price is $160.42.
M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, October 17th. The financial services provider reported $3.47 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.59 by ($0.12). M&T Bank had a return on equity of 13.82% and a net margin of 28.58%. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the business posted $3.53 EPS. As a group, equities analysts forecast that M&T Bank Co. will post 13.7 EPS for the current year.
A number of institutional investors and hedge funds have recently modified their holdings of MTB. Nuveen Asset Management LLC boosted its holdings in 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 worth $339,118,000 after buying an additional 1,990,333 shares during the last quarter. USS Investment Management Ltd raised its position in shares of M&T Bank by 1,053.7% during the third quarter. USS Investment Management Ltd now owns 736,052 shares of the financial services provider’s stock worth $116,278,000 after purchasing an additional 672,252 shares during the period. Hexavest Inc. acquired a new stake in shares of M&T Bank during the second quarter worth about $35,588,000. Renaissance Technologies LLC raised its position in shares of M&T Bank by 438.3% during the second quarter. Renaissance Technologies LLC now owns 215,542 shares of the financial services provider’s stock worth $36,657,000 after purchasing an additional 175,500 shares during the period. Finally, State of New Jersey Common Pension Fund D acquired a new stake in shares of M&T Bank during the third quarter worth about $16,555,000. Hedge funds and other institutional investors own 81.98% of the company’s stock.
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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