M&T Bank (NYSE:MTB) Sets New 1-Year High – Still a Buy?

M&T Bank Corporation (NYSE:MTB) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $222.40 and last traded at $221.4480, with a volume of 22803 shares traded. The stock had previously closed at $221.44.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MTB shares. Robert W. Baird boosted their price target on shares of M&T Bank from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, December 18th. Wall Street Zen raised M&T Bank from a “sell” rating to a “hold” rating in a research note on Saturday. Cantor Fitzgerald increased their price target on M&T Bank from $228.00 to $238.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. UBS Group lifted their price objective on M&T Bank from $207.00 to $208.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. Finally, Wolfe Research lowered M&T Bank from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $224.29.

M&T Bank Stock Performance

The stock has a market capitalization of $34.10 billion, a P/E ratio of 13.01, a PEG ratio of 0.97 and a beta of 0.59. The stock’s 50-day simple moving average is $205.52 and its 200 day simple moving average is $196.21. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.90 and a quick ratio of 0.97.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.72 EPS for the quarter, beating the consensus estimate of $4.47 by $0.25. M&T Bank had a net margin of 21.55% and a return on equity of 10.94%. The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the prior year, the company posted $3.77 earnings per share. Research analysts expect that M&T Bank Corporation will post 16.57 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st were issued a dividend of $1.50 per share. The ex-dividend date was Monday, December 1st. This represents a $6.00 annualized dividend and a yield of 2.7%. M&T Bank’s dividend payout ratio (DPR) is presently 35.19%.

Insiders Place Their Bets

In other news, Vice Chairman Gary N. Geisel sold 887 shares of the firm’s stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $215.79, for a total transaction of $191,405.73. Following the completion of the sale, the insider owned 16,446 shares of the company’s stock, valued at $3,548,882.34. This trade represents a 5.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Christopher E. Kay sold 5,250 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $191.70, for a total value of $1,006,425.00. Following the completion of the sale, the executive vice president owned 5,501 shares of the company’s stock, valued at approximately $1,054,541.70. This represents a 48.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 30,003 shares of company stock valued at $6,283,182. Insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

A number of hedge funds and other institutional investors have recently made changes to their positions in MTB. Bank of Jackson Hole Trust increased its stake 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 purchased a new stake in shares of M&T Bank in the 3rd quarter valued at about $32,000. Golden State Wealth Management LLC raised its stake in M&T Bank by 2,214.3% in the second quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 155 shares in the last quarter. Ameriflex Group Inc. raised its position in shares of M&T Bank by 82.4% during the 3rd quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider’s stock valued at $37,000 after buying an additional 84 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in M&T Bank during the second quarter valued at about $36,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

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.