M&T Bank (NYSE:MTB) Hits New 1-Year High – Should You Buy?

M&T Bank Corporation (NYSE:MTB) shares reached a new 52-week high on Thursday . The stock traded as high as $207.01 and last traded at $206.13, with a volume of 76026 shares. The stock had previously closed at $204.60.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MTB shares. Truist Financial decreased their target price on shares of M&T Bank from $227.00 to $217.00 and set a “buy” rating on the stock in a report on Friday, October 17th. Cantor Fitzgerald initiated coverage on shares of M&T Bank in a research report on Wednesday, September 10th. They set an “overweight” rating and a $228.00 price objective for the company. Wall Street Zen upgraded M&T Bank from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Cowen reissued a “buy” rating on shares of M&T Bank in a report on Monday, October 20th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of M&T Bank in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $213.66.

M&T Bank Trading Up 1.0%

The company has a market cap of $31.74 billion, a P/E ratio of 12.72, a PEG ratio of 0.94 and a beta of 0.61. The firm’s 50 day moving average is $187.00 and its two-hundred day moving average is $190.91. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.49.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share for the quarter. The company 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%. As a group, equities research analysts anticipate that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, December 1st. M&T Bank’s dividend payout ratio is currently 36.95%.

Insider Buying and Selling at M&T Bank

In other news, Director Robert E. Sadler, Jr. sold 6,000 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $190.06, for a total value of $1,140,360.00. Following the transaction, the director directly owned 17,070 shares of the company’s stock, valued at $3,244,324.20. The trade was a 26.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Christopher E. Kay sold 5,250 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $191.70, for a total value of $1,006,425.00. Following the sale, the executive vice president directly owned 5,501 shares of the company’s stock, valued at $1,054,541.70. This represents a 48.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of MTB. Wellington Management Group LLP raised its holdings in shares of M&T Bank by 33.1% during the first quarter. Wellington Management Group LLP now owns 9,894,065 shares of the financial services provider’s stock valued at $1,768,564,000 after purchasing an additional 2,460,315 shares during the period. Northern Trust Corp boosted its holdings in M&T Bank by 2.3% in the first quarter. Northern Trust Corp now owns 1,721,410 shares of the financial services provider’s stock worth $307,702,000 after acquiring an additional 38,081 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in M&T Bank by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,611,137 shares of the financial services provider’s stock valued at $287,932,000 after acquiring an additional 12,580 shares during the period. Goldman Sachs Group Inc. raised its position in shares of M&T Bank by 20.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,097,864 shares of the financial services provider’s stock worth $196,243,000 after purchasing an additional 187,780 shares during the period. Finally, Marshall Wace LLP lifted its holdings in shares of M&T Bank by 6.2% in the 2nd quarter. Marshall Wace LLP now owns 584,438 shares of the financial services provider’s stock worth $113,375,000 after purchasing an additional 33,920 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Company Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.