M&T Bank (NYSE:MTB) Reaches New 52-Week High – Here’s Why

M&T Bank Corporation (NYSE:MTB) hit a new 52-week high on Thursday . The stock traded as high as $220.60 and last traded at $219.0070, with a volume of 1703573 shares changing hands. The stock had previously closed at $211.71.

Wall Street Analysts Forecast Growth

MTB has been the subject of several recent research reports. Royal Bank Of Canada upped their target price on shares of M&T Bank from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday, January 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of M&T Bank in a research note on Monday, December 29th. Bank of America reissued a “neutral” rating and issued a $225.00 target price on shares of M&T Bank in a research note on Wednesday, January 7th. Truist Financial set a $230.00 target price on M&T Bank in a report on Tuesday. Finally, Jefferies Financial Group upped their price target on M&T Bank from $250.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $224.24.

M&T Bank Trading Down 1.7%

The stock has a market capitalization of $32.84 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 0.96 and a beta of 0.59. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.90 and a quick ratio of 0.97. The business has a 50 day simple moving average of $202.04 and a 200-day simple moving average of $195.65.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.72 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.25. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter in the previous year, the business posted $3.77 EPS. As a group, equities analysts expect that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $6.00 annualized dividend and a dividend yield of 2.8%. M&T Bank’s dividend payout ratio is currently 35.19%.

Insider Activity at M&T Bank

In related news, Director John P. Barnes sold 17,866 shares of the company’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $220.81, for a total value of $3,944,991.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert E. Sadler, Jr. sold 6,000 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $190.06, for a total value of $1,140,360.00. Following the transaction, the director owned 17,070 shares of the company’s stock, valued at approximately $3,244,324.20. This trade represents a 26.01% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 29,116 shares of company stock valued at $6,091,776. 0.53% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On M&T Bank

Several institutional investors have recently bought and sold shares of the company. Golden State Wealth Management LLC grew its stake in shares of M&T Bank by 2,214.3% during the 2nd quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 155 shares in the last quarter. Bank of Jackson Hole Trust lifted its position in shares of M&T Bank by 342.9% in the third quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 120 shares in the last quarter. Triumph Capital Management acquired a new position in M&T Bank during the third quarter worth $32,000. Twin Peaks Wealth Advisors LLC bought a new position in M&T Bank in the second quarter valued at $36,000. Finally, Ameriflex Group Inc. grew its position in M&T Bank by 82.4% in the third quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 84 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

About M&T Bank

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.