M&T Bank (NYSE:MTB) Hits New 12-Month High at $148.47

Shares of M&T Bank Co. (NYSE:MTB - Get Free Report) reached a new 52-week high during mid-day trading on Friday . The company 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

Several brokerages have recently weighed in on MTB. Bank of America raised their price objective on M&T Bank from $157.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, April 16th. Morgan Stanley raised their price objective on M&T Bank from $160.00 to $179.00 and gave the company an "overweight" rating in a report on Wednesday, February 7th. UBS Group raised their price objective on M&T Bank from $139.00 to $154.00 in a report on Wednesday, January 17th. StockNews.com upgraded M&T Bank from a "sell" rating to a "hold" rating in a report on Thursday. Finally, Jefferies Financial Group decreased their price objective on M&T Bank from $154.00 to $151.00 and set a "hold" rating for the company in a report on Monday, April 8th. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $158.48.

M&T Bank Price Performance

The company's 50-day simple moving average is $141.00 and its 200-day simple moving average is $133.77. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99. The stock has a market capitalization of $24.39 billion, a price-to-earnings ratio of 9.90, a P/E/G ratio of 1.24 and a beta of 0.80.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11). The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same quarter last year, the business earned $4.09 earnings per share. Research analysts forecast that M&T Bank Co. will post 13.92 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

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

Insiders Place Their Bets

In other news, EVP Doris P. Meister sold 1,000 shares of M&T Bank stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $132.30, for a total value of $132,300.00. Following the completion of the sale, the executive vice president now directly owns 7,274 shares in the company, valued at $962,350.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Doris P. Meister sold 1,000 shares of M&T Bank stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $132.30, for a total value of $132,300.00. Following the completion of the sale, the executive vice president now directly owns 7,274 shares in the company, valued at $962,350.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Doris P. Meister sold 1,675 shares of M&T Bank stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total transaction 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. Insiders sold 37,119 shares of company stock worth $5,341,012 over the last three months. Insiders own 0.82% of the company's stock.

Institutional Investors Weigh In On M&T Bank

A number of hedge funds and other institutional investors have recently made changes to their positions in MTB. YHB Investment Advisors Inc. bought a new position in M&T Bank in the first quarter valued at approximately $95,000. Checchi Capital Advisers LLC bought a new stake in shares of M&T Bank during the first quarter worth $202,000. Tritonpoint Wealth LLC grew its stake in shares of M&T Bank by 2.3% during the first quarter. Tritonpoint Wealth LLC now owns 3,833 shares of the financial services provider's stock worth $510,000 after buying an additional 87 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of M&T Bank by 0.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,905 shares of the financial services provider's stock worth $4,204,000 after buying an additional 233 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its stake in shares of M&T Bank by 0.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 29,245 shares of the financial services provider's stock worth $4,253,000 after buying an additional 191 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

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.