Short Interest in M&T Bank Co. (NYSE:MTB) Declines By 14.6%

M&T Bank Co. (NYSE:MTB) was the target of a large decrease in short interest in the month of April. As of April 15th, there was short interest totalling 3,050,000 shares, a decrease of 14.6% from the March 31st total of 3,570,000 shares. Based on an average daily volume of 1,180,000 shares, the days-to-cover ratio is presently 2.6 days.

M&T Bank Stock Performance

MTB stock opened at $146.38 on Monday. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The firm has a market cap of $24.39 billion, a PE ratio of 9.90, a P/E/G ratio of 1.22 and a beta of 0.80. The business has a 50 day moving average of $141.00 and a 200-day moving average of $133.88. M&T Bank has a 12-month low of $108.53 and a 12-month high of $148.93.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter last year, the company earned $4.09 EPS. As a group, sell-side analysts expect that M&T Bank will post 13.92 earnings per share for the current year.

M&T Bank Dividend Announcement

The business 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. The ex-dividend date was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a yield of 3.55%. M&T Bank’s dividend payout ratio (DPR) is presently 35.16%.

Analyst Ratings Changes

A number of analysts recently commented on MTB shares. Morgan Stanley boosted their target price on M&T Bank from $160.00 to $179.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Keefe, Bruyette & Woods boosted their price target on shares of M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a research note on Tuesday, April 16th. Wedbush reaffirmed an “outperform” rating and issued a $170.00 price objective on shares of M&T Bank in a research note on Wednesday, April 10th. UBS Group boosted their target price on shares of M&T Bank from $139.00 to $154.00 in a research report on Wednesday, January 17th. Finally, Bank of America raised their price target on shares of M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $158.48.

Insider Buying and Selling at M&T Bank

In related news, EVP Doris P. Meister sold 1,638 shares of M&T Bank stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Doris P. Meister sold 1,638 shares of the company’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total transaction of $226,387.98. Following the sale, the executive vice president now owns 3,362 shares in the company, valued at approximately $464,662.02. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Doris P. Meister sold 1,675 shares of M&T Bank stock in a transaction that occurred on 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 owns 8,961 shares of the company’s stock, valued at $1,235,811.51. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,119 shares of company stock valued at $5,341,012. 0.82% of the stock is currently owned by company insiders.

Institutional Trading of M&T Bank

Several hedge funds have recently added to or reduced their stakes in the stock. HHM Wealth Advisors LLC bought a new stake in shares of M&T Bank in the fourth quarter valued at $25,000. General Partner Inc. purchased a new stake in shares of M&T Bank during the 1st quarter valued at approximately $27,000. Headinvest LLC bought a new position in M&T Bank in the 3rd quarter worth approximately $29,000. BKM Wealth Management LLC purchased a new position in M&T Bank in the 4th quarter valued at approximately $32,000. Finally, Creative Financial Designs Inc. ADV bought a new stake in M&T Bank during the 4th quarter valued at $33,000. Institutional investors own 84.68% of the company’s stock.

About M&T Bank

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.