M&T Bank (NYSE:MTB) Sets New 52-Week High – Here’s Why

M&T Bank Corporation (NYSE:MTB)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $208.26 and last traded at $206.1590, with a volume of 703698 shares traded. The stock had previously closed at $206.82.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MTB. Cowen reiterated a “buy” rating on shares of M&T Bank in a research report on Monday, October 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of M&T Bank in a research note on Monday. UBS Group upped their target price on M&T Bank from $207.00 to $208.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. Evercore ISI raised their price target on shares of M&T Bank from $222.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Finally, Wall Street Zen upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $214.62.

M&T Bank Price Performance

The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.97 and a current ratio of 0.97. The business has a 50 day simple moving average of $190.00 and a 200-day simple moving average of $192.46. The firm has a market cap of $31.68 billion, a price-to-earnings ratio of 12.69, a P/E/G ratio of 0.99 and a beta of 0.61.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Wednesday, March 9th. The financial services provider reported $3.54 EPS for the quarter. The firm had revenue of $1.54 billion during the quarter. M&T Bank had a return on equity of 10.62% and a net margin of 20.91%. Equities research analysts expect that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st will be paid a dividend of $1.50 per share. The ex-dividend date is Monday, December 1st. This represents a $6.00 annualized dividend and a yield of 2.9%. M&T Bank’s dividend payout ratio (DPR) is 36.95%.

Insiders Place Their Bets

In other news, EVP Christopher E. Kay sold 5,250 shares of the company’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $191.70, for a total value of $1,006,425.00. Following the completion of the sale, the executive vice president owned 5,501 shares in the company, valued at $1,054,541.70. This represents a 48.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert E. Sadler, Jr. sold 6,000 shares of the stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $190.06, for a total transaction of $1,140,360.00. Following the completion of the sale, the director owned 17,070 shares of the company’s stock, valued at approximately $3,244,324.20. This represents a 26.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.53% of the stock is owned by insiders.

Hedge Funds Weigh In On M&T Bank

Several hedge funds have recently modified their holdings of MTB. Wealth Preservation Advisors LLC bought a new position in shares of M&T Bank in the first quarter valued at approximately $25,000. WPG Advisers LLC purchased a new position in M&T Bank in the first quarter worth $25,000. Golden State Wealth Management LLC boosted its position in M&T Bank by 2,214.3% in the second quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 155 shares during the last quarter. Bank of Jackson Hole Trust grew its stake in M&T Bank by 342.9% in the 3rd quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 120 shares during the period. Finally, Triumph Capital Management bought a new position in M&T Bank in the 3rd quarter valued at $32,000. Institutional investors own 84.68% of the company’s stock.

M&T Bank Company Profile

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.