M&T Bank (NYSE:MTB) Hits New 1-Year High on Analyst Upgrade

M&T Bank Corporation (NYSE:MTB)’s share price reached a new 52-week high during mid-day trading on Monday after Wells Fargo & Company raised their price target on the stock from $185.00 to $205.00. Wells Fargo & Company currently has an underweight rating on the stock. M&T Bank traded as high as $210.13 and last traded at $210.9530, with a volume of 88142 shares traded. The stock had previously closed at $204.04.

Several other brokerages have also issued reports on MTB. Citigroup increased their target price on shares of M&T Bank from $215.00 to $225.00 and gave the stock a “neutral” rating in a research note on Friday. Jefferies Financial Group increased their price objective on shares of M&T Bank from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Robert W. Baird raised their target price on M&T Bank from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, December 18th. TD Cowen upped their price target on M&T Bank from $235.00 to $245.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Finally, Wall Street Zen upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $220.15.

Insider Transactions at M&T Bank

In related news, Director Robert E. Sadler, Jr. sold 6,000 shares of M&T Bank stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $190.06, for a total transaction of $1,140,360.00. Following the transaction, the director owned 17,070 shares of the company’s stock, valued at $3,244,324.20. The trade was a 26.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Christopher E. Kay sold 5,250 shares of the company’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $191.70, for a total value of $1,006,425.00. Following the sale, the executive vice president owned 5,501 shares of the company’s stock, valued at $1,054,541.70. This trade represents a 48.83% decrease in their position. The SEC filing for this sale provides additional information. 0.53% of the stock is currently owned by insiders.

Institutional Trading of M&T Bank

Several institutional investors and hedge funds have recently made changes to their positions in MTB. GAMMA Investing LLC grew its position in M&T Bank by 2.8% during the fourth quarter. GAMMA Investing LLC now owns 5,556 shares of the financial services provider’s stock valued at $1,119,000 after buying an additional 153 shares during the period. Triumph Capital Management purchased a new position in M&T Bank in the third quarter valued at about $32,000. Sunbelt Securities Inc. grew its position in shares of M&T Bank by 13.1% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,619 shares of the financial services provider’s stock valued at $320,000 after acquiring an additional 188 shares during the period. Danske Bank A S bought a new position in shares of M&T Bank during the 3rd quarter valued at approximately $29,612,000. Finally, NewEdge Advisors LLC increased its stake in shares of M&T Bank by 3.6% during the 3rd quarter. NewEdge Advisors LLC now owns 15,566 shares of the financial services provider’s stock worth $3,076,000 after purchasing an additional 547 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Price Performance

The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.49. The business’s fifty day moving average is $194.14 and its 200 day moving average is $193.93. The company has a market cap of $32.18 billion, a P/E ratio of 12.89, a PEG ratio of 0.87 and a beta of 0.59.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share for the quarter. The business had revenue of $1.54 billion during the quarter. M&T Bank had a return on equity of 10.62% and a net margin of 20.91%. As a group, sell-side analysts anticipate that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 1st were paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Monday, December 1st. M&T Bank’s payout ratio is currently 36.95%.

M&T Bank Company Profile

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.