M&T Bank (NYSE:MTB) Shares Gap Up to $134.56

Shares of M&T Bank Co. (NYSE:MTB - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $134.56, but opened at $139.94. M&T Bank shares last traded at $143.41, with a volume of 733,283 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on MTB shares. Morgan Stanley increased their price target on M&T Bank from $160.00 to $179.00 and gave the company an "overweight" rating in a research report on Wednesday, February 7th. Wedbush restated an "outperform" rating and issued a $170.00 price objective on shares of M&T Bank in a research note on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft lowered M&T Bank from a "buy" rating to a "hold" rating and set a $145.00 price objective on the stock. in a research note on Monday, December 18th. Keefe, Bruyette & Woods upped their price objective on M&T Bank from $155.00 to $162.00 and gave the company a "market perform" rating in a research note on Friday, April 5th. Finally, UBS Group upped their price objective on M&T Bank from $139.00 to $154.00 in a research note on Wednesday, January 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $155.21.

M&T Bank Stock Up 4.7 %

The firm has a market cap of $23.47 billion, a price-to-earnings ratio of 8.93, a P/E/G ratio of 1.24 and a beta of 0.80. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a 50-day moving average of $139.18 and a 200-day moving average of $132.55.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.17 by ($0.15). M&T Bank had a return on equity of 11.59% and a net margin of 21.49%. During the same period last year, the company posted $4.09 EPS. Sell-side analysts predict that M&T Bank Co. will post 13.89 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank's dividend payout ratio is currently 32.95%.

Insider Buying and Selling

In related news, EVP Doris P. Meister sold 1,675 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 8,961 shares of the company's stock, valued at $1,235,811.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the firm's 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 sale, the director now owns 6,367 shares of the company's stock, valued at approximately $923,215. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Doris P. Meister sold 1,675 shares of the firm's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total value of $230,999.25. Following the completion of the sale, the executive vice president now directly owns 8,961 shares in the company, valued at approximately $1,235,811.51. The disclosure for this sale can be found here. Insiders have sold 35,481 shares of company stock valued at $5,114,624 over the last 90 days. 0.82% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On M&T Bank

A number of large investors have recently modified their holdings of the business. Visionary Horizons LLC acquired a new stake in shares of M&T Bank during the 1st quarter valued at $413,000. Brookstone Capital Management boosted its holdings in shares of M&T Bank by 4.6% during the 1st quarter. Brookstone Capital Management now owns 4,858 shares of the financial services provider's stock valued at $707,000 after acquiring an additional 213 shares in the last quarter. Sunbelt Securities Inc. boosted its holdings in shares of M&T Bank by 540.2% during the 1st quarter. Sunbelt Securities Inc. now owns 1,543 shares of the financial services provider's stock valued at $224,000 after acquiring an additional 1,302 shares in the last quarter. Sound Income Strategies LLC boosted its holdings in shares of M&T Bank by 8.8% during the 1st quarter. Sound Income Strategies LLC now owns 87,050 shares of the financial services provider's stock valued at $12,661,000 after acquiring an additional 7,050 shares in the last quarter. Finally, Ballentine Partners LLC acquired a new stake in shares of M&T Bank during the 1st quarter valued at $216,000. Institutional investors and hedge funds 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.