M&T Bank (NYSE:MTB) Reaches New 1-Year High – Time to Buy?

M&T Bank Co. (NYSE:MTB)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $193.60 and last traded at $193.60, with a volume of 1112 shares changing hands. The stock had previously closed at $189.35.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MTB shares. Royal Bank of Canada boosted their target price on shares of M&T Bank from $160.00 to $174.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Morgan Stanley boosted their price target on M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Bank of America boosted their price objective on shares of M&T Bank from $160.00 to $188.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Wolfe Research raised M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price target for the company in a report on Friday, October 4th. Finally, Evercore ISI upgraded M&T Bank from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $187.00 to $210.00 in a research report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, M&T Bank currently has an average rating of “Hold” and an average price target of $185.75.

M&T Bank Price Performance

The business has a 50-day moving average of $171.49 and a 200 day moving average of $157.99. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $32.95 billion, a P/E ratio of 12.80, a price-to-earnings-growth ratio of 3.27 and a beta of 0.75.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, beating the consensus estimate of $3.50 by $0.23. The firm had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $2.27 billion. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. During the same quarter in the previous year, the company posted $5.12 earnings per share. On average, sell-side analysts predict that M&T Bank Co. will post 14.16 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 Monday, September 30th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend was Tuesday, September 3rd. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

Insider Buying and Selling at M&T Bank

In other news, Director Robert E. Sadler, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total value of $172,230.00. Following the completion of the transaction, the director now directly owns 31,796 shares in the company, valued at approximately $5,476,225.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Denis J. Salamone sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the sale, the director now owns 44,902 shares of the company’s stock, valued at approximately $7,724,491.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total transaction of $172,230.00. Following the completion of the sale, the director now directly owns 31,796 shares of the company’s stock, valued at $5,476,225.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,699 shares of company stock worth $5,115,349 in the last quarter. 0.82% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On M&T Bank

Several institutional investors have recently bought and sold shares of the stock. Fisher Asset Management LLC boosted its position in M&T Bank by 2.8% during the 4th quarter. Fisher Asset Management LLC now owns 15,878 shares of the financial services provider’s stock valued at $2,177,000 after buying an additional 439 shares during the period. Quadrature Capital Ltd purchased a new stake in M&T Bank in the 4th quarter worth approximately $788,000. Nomura Holdings Inc. grew its position in shares of M&T Bank by 98.3% in the 4th quarter. Nomura Holdings Inc. now owns 19,588 shares of the financial services provider’s stock worth $2,685,000 after buying an additional 9,708 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of M&T Bank by 25.0% during the first quarter. GAMMA Investing LLC now owns 1,534 shares of the financial services provider’s stock valued at $223,000 after acquiring an additional 307 shares in the last quarter. Finally, Alaska Permanent Fund Corp lifted its stake in M&T Bank by 2.3% in the first quarter. Alaska Permanent Fund Corp now owns 18,763 shares of the financial services provider’s stock worth $2,729,000 after acquiring an additional 417 shares during the period. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

M&T Bank Company Profile

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.