M&T Bank (NYSE:MTB) Shares Gap Up to $134.56

M&T Bank Co. (NYSE:MTB) shares gapped up prior to trading on Monday . The stock had previously closed at $134.56, but opened at $139.94. M&T Bank shares last traded at $143.41, with a volume of 733,283 shares changing hands.

Wall Street Analysts Forecast Growth

MTB has been the topic of a number of research analyst reports. Barclays raised 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. DA Davidson restated a “neutral” rating and issued a $159.00 price target on shares of M&T Bank in a research note on Tuesday. Keefe, Bruyette & Woods raised their price objective on shares of M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a report on Tuesday. StockNews.com lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Finally, Wells Fargo & Company raised their price objective on shares of M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $157.98.

M&T Bank Trading Down 2.5 %

The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 0.99. The firm’s fifty day simple moving average is $139.44 and its 200-day simple moving average is $132.72. The stock has a market cap of $22.89 billion, a P/E ratio of 8.71, a price-to-earnings-growth ratio of 1.24 and a beta of 0.80.

M&T Bank (NYSE:MTB) last released 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 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 21.49% and a return on equity of 11.59%. During the same quarter in the prior year, the firm earned $4.09 EPS. Equities research analysts expect that M&T Bank Co. will post 13.89 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were paid a $1.30 dividend. The ex-dividend date was Friday, March 1st. This represents a $5.20 annualized dividend and a dividend yield of 3.79%. M&T Bank’s dividend payout ratio is currently 32.95%.

Insider Activity

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 completion of the sale, the director now owns 6,367 shares of the company’s stock, valued at approximately $923,215. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other M&T Bank 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 transaction of $4,182,525.00. Following the transaction, the director now directly owns 6,367 shares of the company’s stock, valued at approximately $923,215. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Doris P. Meister sold 1,000 shares of M&T Bank stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $132.30, for a total transaction of $132,300.00. Following the transaction, the executive vice president now directly owns 7,274 shares in the company, valued at $962,350.20. The disclosure for this sale can be found here. Insiders sold 35,481 shares of company stock worth $5,114,624 in the last quarter. 0.82% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On M&T Bank

Hedge funds have recently made changes to their positions in the business. Pasadena Private Wealth LLC bought a new stake in M&T Bank in the 1st quarter valued at about $206,000. Wealth Enhancement Advisory Services LLC raised its stake in M&T Bank by 5.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,453 shares of the financial services provider’s stock valued at $2,538,000 after acquiring an additional 967 shares during the period. Visionary Horizons LLC bought a new stake in M&T Bank in the 1st quarter valued at about $413,000. Brookstone Capital Management raised its stake in M&T Bank by 4.6% in the 1st quarter. Brookstone Capital Management now owns 4,858 shares of the financial services provider’s stock valued at $707,000 after acquiring an additional 213 shares during the period. Finally, Sunbelt Securities Inc. raised its stake in M&T Bank by 540.2% in the 1st quarter. Sunbelt Securities Inc. now owns 1,543 shares of the financial services provider’s stock valued at $224,000 after acquiring an additional 1,302 shares during the period. 84.68% of the stock is currently owned by institutional investors.

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.