M&T Bank (NYSE:MTB) Reaches New 12-Month High at $148.99

M&T Bank Co. (NYSE:MTB - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $148.99 and last traded at $148.94, with a volume of 361382 shares traded. The stock had previously closed at $146.58.

Analyst Ratings Changes

Several brokerages recently commented on MTB. Bank of America boosted their price objective on shares of M&T Bank from $157.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday, April 16th. Keefe, Bruyette & Woods increased their price objective on M&T Bank from $162.00 to $170.00 and gave the stock a "market perform" rating in a research report on Tuesday, April 16th. Piper Sandler reduced their target price on M&T Bank from $156.00 to $152.00 and set an "overweight" rating for the company in a research report on Friday, January 19th. Evercore ISI raised their price target on M&T Bank from $146.00 to $157.00 and gave the company an "in-line" rating in a report on Thursday, March 28th. Finally, Wells Fargo & Company lifted their price target on M&T Bank from $145.00 to $150.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $158.48.

M&T Bank Trading Up 1.8 %

The stock's 50-day simple moving average is $142.08 and its 200-day simple moving average is $134.91. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.94. The firm has a market capitalization of $24.87 billion, a PE ratio of 10.09, a P/E/G ratio of 1.23 and a beta of 0.78.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the previous year, the firm posted $4.09 earnings per share. As a group, sell-side analysts expect that M&T Bank Co. will post 13.92 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were issued a $1.30 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a yield of 3.48%. M&T Bank's dividend payout ratio (DPR) is 35.16%.

Insider Buying and Selling at M&T Bank

In related news, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the transaction, the director now directly owns 6,367 shares in the company, valued at approximately $923,215. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other M&T Bank news, EVP Doris P. Meister sold 1,675 shares of M&T Bank stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $137.91, for a total transaction of $230,999.25. Following the completion of the transaction, the executive vice president now owns 8,961 shares in the company, valued at $1,235,811.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the sale, the director now directly owns 6,367 shares in the company, valued at $923,215. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,119 shares of company stock valued at $6,679,812. 0.82% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On M&T Bank

A number of hedge funds have recently bought and sold shares of the company. Duality Advisers LP bought a new position in shares of M&T Bank in the first quarter worth approximately $201,000. Leuthold Group LLC purchased a new stake in M&T Bank during the 1st quarter valued at $3,125,000. Commonwealth Retirement Investments LLC raised its stake in shares of M&T Bank by 7.3% in the first quarter. Commonwealth Retirement Investments LLC now owns 9,902 shares of the financial services provider's stock worth $1,440,000 after purchasing an additional 671 shares during the last quarter. Catalina Capital Group LLC bought a new position in shares of M&T Bank during the first quarter valued at $364,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of M&T Bank during the first quarter valued at $613,000. 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.

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