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

M&T Bank Co. (NYSE:MTB)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $148.99 and last traded at $148.94, with a volume of 361382 shares changing hands. The stock had previously closed at $146.58.

Analyst Ratings Changes

Several brokerages have recently weighed in on MTB. StockNews.com lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Jefferies Financial Group cut their target price on shares of M&T Bank from $154.00 to $151.00 and set a “hold” rating on the stock in a research note on Monday, April 8th. Royal Bank of Canada restated an “outperform” rating and set a $160.00 target price on shares of M&T Bank in a report on Tuesday, April 16th. Bank of America increased their price target on M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, DA Davidson restated a “neutral” rating and set a $159.00 price objective on shares of M&T Bank in a research note on Tuesday, April 16th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, M&T Bank has an average rating of “Hold” and an average price target of $158.48.

M&T Bank Stock Up 2.0 %

The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99. The firm has a market cap of $25.21 billion, a P/E ratio of 10.23, a PEG ratio of 1.23 and a beta of 0.78. The firm’s 50-day moving average price is $142.27 and its 200 day moving average price is $135.15.

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). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period last year, the company posted $4.09 earnings per share. On average, equities research analysts expect that M&T Bank Co. will post 13.92 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

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

Insider Activity at M&T Bank

In other news, EVP Doris P. Meister sold 3,362 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $147.27, for a total transaction of $495,121.74. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Doris P. Meister sold 1,675 shares of M&T Bank stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $137.91, for a total transaction of $230,999.25. Following the transaction, the executive vice president now directly owns 8,961 shares of the company’s stock, valued at $1,235,811.51. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Doris P. Meister sold 3,362 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $147.27, for a total transaction of $495,121.74. The disclosure for this sale can be found here. Insiders have sold a total of 79,020 shares of company stock worth $11,533,507 in the last three months. 0.82% of the stock is owned by company insiders.

Institutional Trading of M&T Bank

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Invesco Ltd. lifted its position in shares of M&T Bank by 15.5% in the 3rd quarter. Invesco Ltd. now owns 4,840,950 shares of the financial services provider’s stock valued at $612,138,000 after acquiring an additional 650,796 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of M&T Bank by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,595,687 shares of the financial services provider’s stock valued at $454,675,000 after buying an additional 41,790 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in M&T Bank by 0.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,730,853 shares of the financial services provider’s stock valued at $237,265,000 after buying an additional 4,419 shares during the period. Norges Bank purchased a new stake in M&T Bank in the 4th quarter worth about $232,322,000. Finally, Northern Trust Corp lifted its stake in M&T Bank by 3.7% in the 3rd quarter. Northern Trust Corp now owns 1,671,837 shares of the financial services provider’s stock worth $211,404,000 after acquiring an additional 59,690 shares in the last quarter. 84.68% of the stock is currently owned by 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.