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

M&T Bank Co. (NYSE:MTB)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $148.47 and last traded at $148.58, with a volume of 73549 shares. The stock had previously closed at $146.90.

Wall Street Analysts Forecast Growth

MTB has been the topic of a number of recent analyst reports. Morgan Stanley increased their price target 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $160.00 price target on shares of M&T Bank in a research note on Tuesday, April 16th. Evercore ISI lifted their price target on M&T Bank from $146.00 to $157.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. JPMorgan Chase & Co. lifted their price target on M&T Bank from $170.00 to $180.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Finally, StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research note on Thursday. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $158.48.

M&T Bank Price Performance

The company has a current ratio of 0.94, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. The stock has a market cap of $24.39 billion, a PE ratio of 9.90, a P/E/G ratio of 1.23 and a beta of 0.80. The company has a fifty day moving average of $141.00 and a 200-day moving average of $133.82.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results 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). M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter last year, the company earned $4.09 EPS. Sell-side analysts expect that M&T Bank Co. will post 13.92 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were given a dividend of $1.30 per share. The ex-dividend date was Friday, March 1st. This represents a $5.20 annualized dividend and a dividend yield of 3.55%. M&T Bank’s dividend payout ratio is currently 35.16%.

Insider Transactions at M&T Bank

In related news, EVP Doris P. Meister sold 1,675 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $137.91, for a total value of $230,999.25. Following the completion of the sale, the executive vice president now directly owns 8,961 shares of the company’s stock, valued at approximately $1,235,811.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Doris P. Meister sold 1,675 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $137.91, for a total value of $230,999.25. Following the completion of the sale, the executive vice president now directly owns 8,961 shares of the company’s stock, valued at approximately $1,235,811.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Doris P. Meister sold 3,961 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $143.60, for a total value of $568,799.60. Following the sale, the executive vice president now directly owns 5,000 shares of the company’s stock, valued at $718,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,119 shares of company stock valued at $5,341,012. 0.82% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On M&T Bank

A number of large investors have recently modified their holdings of MTB. AE Wealth Management LLC raised its stake in shares of M&T Bank by 60.6% during the 3rd quarter. AE Wealth Management LLC now owns 6,165 shares of the financial services provider’s stock worth $780,000 after buying an additional 2,327 shares in the last quarter. Avior Wealth Management LLC raised its stake in shares of M&T Bank by 852.9% during the 3rd quarter. Avior Wealth Management LLC now owns 324 shares of the financial services provider’s stock worth $41,000 after buying an additional 290 shares in the last quarter. Czech National Bank increased its stake in M&T Bank by 47.7% in the 3rd quarter. Czech National Bank now owns 28,995 shares of the financial services provider’s stock valued at $3,666,000 after purchasing an additional 9,359 shares in the last quarter. HGK Asset Management Inc. purchased a new position in M&T Bank in the 3rd quarter valued at approximately $5,387,000. Finally, Commonwealth Equity Services LLC increased its stake in M&T Bank by 1.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 85,000 shares of the financial services provider’s stock valued at $10,748,000 after purchasing an additional 1,583 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other 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.