M&T Bank (NYSE:MTB) Sets New 12-Month High at $148.47

M&T Bank Co. (NYSE:MTB) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $148.47 and last traded at $148.58, with a volume of 73549 shares. The stock had previously closed at $146.90.

Analyst Ratings Changes

A number of research firms recently commented on MTB. Wedbush reiterated an “outperform” rating and issued a $170.00 price objective on shares of M&T Bank in a report on Wednesday, April 10th. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research report on Thursday. Barclays boosted their price target on shares of M&T Bank from $150.00 to $170.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Piper Sandler dropped their target price on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a report on Friday, January 19th. Finally, DA Davidson restated a “neutral” rating and set a $159.00 price target on shares of M&T Bank in a research report on Tuesday, April 16th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $158.48.

M&T Bank Price Performance

The company has a fifty day moving average price of $140.84 and a two-hundred day moving average price of $133.63. The firm has a market capitalization of $24.59 billion, a PE ratio of 9.93, a P/E/G ratio of 1.24 and a beta of 0.80. The company has a current ratio of 0.94, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share 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 analyst estimates 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 period in the previous year, the company posted $4.09 earnings per share. Sell-side analysts forecast that M&T Bank Co. will post 13.92 earnings per share for the current year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date was Friday, March 1st. M&T Bank’s dividend payout ratio is currently 35.16%.

Insiders Place Their Bets

In related news, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value 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 legal filing with the SEC, which is accessible through this link. In related news, EVP Doris P. Meister sold 1,675 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $137.91, for a total value of $230,999.25. Following the completion of the sale, the executive vice president now owns 8,961 shares in the company, valued at $1,235,811.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction dated 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 owns 6,367 shares in the company, valued at $923,215. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,119 shares of company stock valued at $5,341,012. 0.82% of the stock is owned by company insiders.

Institutional Trading of M&T Bank

Several large investors have recently bought and sold shares of the company. HHM Wealth Advisors LLC purchased a new stake in shares of M&T Bank in the 4th quarter worth about $25,000. General Partner Inc. acquired a new stake in shares of M&T Bank in the first quarter valued at approximately $27,000. Headinvest LLC purchased a new position in shares of M&T Bank during the 3rd quarter worth approximately $29,000. BKM Wealth Management LLC purchased a new stake in M&T Bank in the 4th quarter valued at approximately $32,000. Finally, Creative Financial Designs Inc. ADV acquired a new stake in M&T Bank during the 4th quarter valued at $33,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

About M&T Bank

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.