M&T Bank (NYSE:MTB) Hits New 1-Year High at $148.99

M&T Bank Co. (NYSE:MTB) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $148.99 and last traded at $148.94, with a volume of 361382 shares traded. The stock had previously closed at $146.58.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MTB shares. JPMorgan Chase & Co. boosted their price target on M&T Bank from $170.00 to $180.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Piper Sandler reduced their price target on M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a report on Friday, January 19th. StockNews.com cut M&T Bank from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Evercore ISI increased their price target on M&T Bank from $146.00 to $157.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. Finally, UBS Group raised their price target on M&T Bank from $139.00 to $154.00 in a report on Wednesday, January 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $158.48.

M&T Bank Price Performance

The business has a fifty day moving average price of $142.27 and a 200 day moving average price of $135.15. The company has a market cap of $25.21 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 1.23 and a beta of 0.78. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.94.

M&T Bank (NYSE:MTB) last posted its earnings results on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing the consensus estimate of $3.13 by ($0.11). The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same quarter in the prior year, the business posted $4.09 earnings per share. As a group, research analysts anticipate that M&T Bank Co. will post 13.92 earnings per share for the current year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were issued a dividend of $1.30 per share. The ex-dividend date was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a yield of 3.44%. M&T Bank’s payout ratio is currently 35.16%.

Insider Activity

In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the transaction, the director now directly owns 6,367 shares in the company, valued at approximately $923,215. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Kirk W. Walters sold 28,845 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the sale, the director now directly owns 6,367 shares of the company’s stock, valued at approximately $923,215. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kirk W. Walters sold 16,179 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $148.01, for a total value of $2,394,653.79. Following the completion of the transaction, the director now owns 6,348 shares in the company, valued at approximately $939,567.48. The disclosure for this sale can be found here. Insiders have sold 79,020 shares of company stock valued at $11,533,507 in the last ninety days. 0.82% of the stock is owned by company insiders.

Institutional Trading of M&T Bank

Several institutional investors and hedge funds have recently modified their holdings of MTB. HHM Wealth Advisors LLC purchased a new position in M&T Bank in the fourth quarter valued at about $25,000. General Partner Inc. purchased a new stake in M&T Bank in the 1st quarter worth approximately $27,000. Headinvest LLC bought a new position in M&T Bank in the 3rd quarter valued at $29,000. Fidelis Capital Partners LLC purchased a new position in shares of M&T Bank during the 1st quarter valued at $30,000. Finally, BKM Wealth Management LLC bought a new position in shares of M&T Bank in the fourth quarter worth $32,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Company Profile

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.