M&T Bank (NYSE:MTB) Hits New 52-Week High at $148.47

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

Analysts Set New Price Targets

A number of research firms have issued reports on MTB. JPMorgan Chase & Co. raised their target price on M&T Bank from $170.00 to $180.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Wedbush reiterated an “outperform” rating and issued a $170.00 price objective on shares of M&T Bank in a research report on Wednesday, April 10th. Jefferies Financial Group cut their price target on M&T Bank from $154.00 to $151.00 and set a “hold” rating on the stock in a report on Monday, April 8th. Morgan Stanley boosted their price objective on M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Finally, Barclays raised their target price on shares of M&T Bank from $150.00 to $170.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and a consensus target price of $158.48.

M&T Bank Trading Up 0.5 %

The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.94. The company has a market cap of $24.59 billion, a price-to-earnings ratio of 9.93, a price-to-earnings-growth ratio of 1.24 and a beta of 0.80. The company’s 50 day moving average price is $140.84 and its 200 day moving average price is $133.63.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate 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 business posted $4.09 earnings per share. Research analysts anticipate that M&T Bank Co. will post 13.92 EPS for the current year.

M&T Bank Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank’s dividend payout ratio is currently 35.16%.

Insider Activity at M&T Bank

In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the transaction, the director now owns 6,367 shares of the company’s stock, valued at approximately $923,215. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Doris P. Meister sold 1,638 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $138.21, for a total transaction of $226,387.98. Following the completion of the transaction, the executive vice president now owns 3,362 shares of the company’s stock, valued at $464,662.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the sale, the director now directly owns 6,367 shares in the company, valued at $923,215. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,119 shares of company stock worth $5,341,012. 0.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTB. Checchi Capital Advisers LLC bought a new position in M&T Bank in the 1st quarter valued at $202,000. Tritonpoint Wealth LLC lifted its position in M&T Bank by 2.3% during the 1st quarter. Tritonpoint Wealth LLC now owns 3,833 shares of the financial services provider’s stock worth $510,000 after buying an additional 87 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in M&T Bank by 0.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,905 shares of the financial services provider’s stock valued at $4,204,000 after acquiring an additional 233 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of M&T Bank by 0.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 29,245 shares of the financial services provider’s stock worth $4,253,000 after purchasing an additional 191 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its stake in shares of M&T Bank by 38.0% during the first quarter. V Square Quantitative Management LLC now owns 2,476 shares of the financial services provider’s stock valued at $360,000 after purchasing an additional 682 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

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.