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

M&T Bank Corporation (NYSE:MTB) shares hit a new 52-week high during trading on Thursday . The company traded as high as $220.60 and last traded at $219.0070, with a volume of 1703573 shares changing hands. The stock had previously closed at $211.71.

Analysts Set New Price Targets

MTB has been the subject of a number of recent research reports. Barclays upped their target price on M&T Bank from $220.00 to $236.00 and gave the stock an “equal weight” rating in a report on Monday, January 5th. Wall Street Zen raised M&T Bank from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Wolfe Research downgraded shares of M&T Bank from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 7th. Royal Bank Of Canada upped their price target on shares of M&T Bank from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday, January 16th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of M&T Bank in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, M&T Bank currently has an average rating of “Hold” and a consensus price target of $224.24.

M&T Bank Trading Up 3.4%

The company has a debt-to-equity ratio of 0.41, a current ratio of 0.90 and a quick ratio of 0.97. The firm has a market cap of $33.66 billion, a price-to-earnings ratio of 12.84, a price-to-earnings-growth ratio of 0.93 and a beta of 0.59. The firm’s fifty day moving average is $200.89 and its 200-day moving average is $195.41.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.72 earnings per share for the quarter, topping the consensus estimate of $4.47 by $0.25. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same period last year, the company posted $3.77 EPS. Equities analysts anticipate that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st were paid a $1.50 dividend. The ex-dividend date was Monday, December 1st. This represents a $6.00 annualized dividend and a dividend yield of 2.7%. M&T Bank’s payout ratio is currently 35.19%.

Insiders Place Their Bets

In related news, Director Robert E. Sadler, Jr. sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $190.06, for a total transaction of $1,140,360.00. Following the transaction, the director directly 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christopher E. Kay sold 5,250 shares of the 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 completion of the transaction, the executive vice president owned 5,501 shares in the company, valued at approximately $1,054,541.70. The trade was a 48.83% 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

A number of large investors have recently modified their holdings of the company. Empowered Funds LLC grew its holdings in shares of M&T Bank by 11.9% during the first quarter. Empowered Funds LLC now owns 3,396 shares of the financial services provider’s stock valued at $607,000 after buying an additional 362 shares during the last quarter. Woodline Partners LP lifted its position in M&T Bank by 40.7% in the 1st quarter. Woodline Partners LP now owns 14,018 shares of the financial services provider’s stock valued at $2,506,000 after acquiring an additional 4,054 shares in the last quarter. Farther Finance Advisors LLC lifted its position in M&T Bank by 62.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 4,416 shares of the financial services provider’s stock valued at $857,000 after acquiring an additional 1,690 shares in the last quarter. GAMMA Investing LLC boosted its stake in M&T Bank by 26.4% during the 2nd quarter. GAMMA Investing LLC now owns 4,989 shares of the financial services provider’s stock valued at $968,000 after purchasing an additional 1,041 shares during the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its holdings in M&T Bank by 9.5% during the 2nd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 232,896 shares of the financial services provider’s stock worth $45,179,000 after purchasing an additional 20,191 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

About M&T Bank

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.