M&T Bank Co. (NYSE:MTB) Short Interest Update

M&T Bank Co. (NYSE:MTBGet Rating) saw a large decline in short interest in April. As of April 15th, there was short interest totalling 3,440,000 shares, a decline of 58.7% from the March 31st total of 8,330,000 shares. Based on an average daily trading volume, of 1,740,000 shares, the short-interest ratio is currently 2.0 days.

Several research analysts recently weighed in on the company. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, March 2nd. Piper Sandler raised their price target on M&T Bank from $200.00 to $210.00 in a research note on Wednesday, April 20th. Citigroup initiated coverage on M&T Bank in a report on Thursday, March 24th. They set a “buy” rating on the stock. UBS Group assumed coverage on M&T Bank in a research report on Wednesday, January 12th. They set a “buy” rating and a $212.00 price objective for the company. Finally, Barclays lifted their target price on shares of M&T Bank from $167.00 to $195.00 in a research note on Monday, January 3rd. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $192.28.

Several large investors have recently modified their holdings of the company. WBH Advisory Inc. grew its holdings in M&T Bank by 26.4% during the first quarter. WBH Advisory Inc. now owns 2,007 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 419 shares during the period. SG Americas Securities LLC lifted its position in shares of M&T Bank by 106.9% in the first quarter. SG Americas Securities LLC now owns 7,318 shares of the financial services provider’s stock worth $1,240,000 after purchasing an additional 3,781 shares in the last quarter. Latitude Advisors LLC lifted its position in shares of M&T Bank by 45.6% in the first quarter. Latitude Advisors LLC now owns 3,459 shares of the financial services provider’s stock worth $586,000 after purchasing an additional 1,083 shares in the last quarter. Full18 Capital LLC bought a new stake in shares of M&T Bank in the first quarter worth $7,237,000. Finally, Clearview Wealth Advisors LLC raised its position in M&T Bank by 12.9% during the first quarter. Clearview Wealth Advisors LLC now owns 2,529 shares of the financial services provider’s stock worth $429,000 after acquiring an additional 288 shares in the last quarter. Institutional investors own 85.23% of the company’s stock.

Shares of MTB traded down $4.67 during mid-day trading on Friday, hitting $166.64. 1,088,271 shares of the company’s stock were exchanged, compared to its average volume of 2,191,990. M&T Bank has a twelve month low of $128.46 and a twelve month high of $186.95. The firm has a fifty day moving average of $172.60 and a two-hundred day moving average of $165.84. The company has a quick ratio of 1.06, a current ratio of 1.00 and a debt-to-equity ratio of 0.21. The stock has a market cap of $21.51 billion, a price-to-earnings ratio of 12.73, a P/E/G ratio of 1.07 and a beta of 0.92.

M&T Bank (NYSE:MTBGet Rating) last released its quarterly earnings data on Wednesday, April 20th. The financial services provider reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.24. M&T Bank had a net margin of 29.31% and a return on equity of 11.45%. During the same quarter in the prior year, the business posted $3.41 earnings per share. On average, equities analysts predict that M&T Bank will post 13.06 earnings per share for the current year.

M&T Bank announced that its Board of Directors has approved a stock repurchase program on Tuesday, February 22nd that allows the company to buyback $800.00 million in shares. This buyback authorization allows the financial services provider to buy up to 3.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Monday, February 28th were given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 2.88%. The ex-dividend date was Friday, February 25th. M&T Bank’s dividend payout ratio is 36.67%.

M&T Bank Company Profile (Get Rating)

M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial lending and leasing, letters of credit, and cash management services for middle-market and large commercial customers.

Further Reading

Receive News & Ratings for M&T Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M&T Bank and related companies with MarketBeat.com's FREE daily email newsletter.