M&T Bank (NYSE:MTB) Sets New 52-Week High at $176.15

M&T Bank Co. (NYSE:MTB) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $176.15 and last traded at $175.98, with a volume of 369886 shares trading hands. The stock had previously closed at $171.68.

Analysts Set New Price Targets

MTB has been the subject of a number of analyst reports. Wells Fargo & Company increased their target price on shares of 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. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, July 19th. Wedbush reissued an “outperform” rating and set a $170.00 target price on shares of M&T Bank in a research report on Wednesday, April 10th. Royal Bank of Canada increased their target price on shares of M&T Bank from $160.00 to $174.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. raised their price target on shares of M&T Bank from $180.00 to $183.00 and gave the stock a “neutral” rating in a report on Tuesday. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $170.35.

M&T Bank Price Performance

The stock has a market cap of $29.08 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 4.44 and a beta of 0.77. The stock’s 50 day moving average price is $151.51 and its two-hundred day moving average price is $144.50. The company has a quick ratio of 1.00, a current ratio of 0.94 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last released its quarterly earnings results 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 company had revenue of $3.37 billion for the quarter, compared to analyst estimates of $2.27 billion. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. During the same quarter last year, the business earned $5.12 earnings per share. Equities research analysts forecast that M&T Bank Co. will post 14.16 EPS for the current fiscal year.

M&T Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were paid a $1.35 dividend. This is an increase from M&T Bank’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend was Monday, June 3rd. M&T Bank’s dividend payout ratio (DPR) is currently 36.51%.

Insider Transactions at M&T Bank

In other news, Director John P. Barnes sold 43,426 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $154.50, for a total value of $6,709,317.00. Following the transaction, the director now directly owns 35,480 shares of the company’s stock, valued at $5,481,660. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other M&T Bank news, Director John P. Barnes sold 43,426 shares of M&T Bank stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $154.50, for a total transaction of $6,709,317.00. Following the transaction, the director now directly owns 35,480 shares of the company’s stock, valued at $5,481,660. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christopher E. Kay sold 1,821 shares of M&T Bank stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $153.78, for a total transaction of $280,033.38. Following the transaction, the executive vice president now directly owns 8,579 shares in the company, valued at $1,319,278.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,915 shares of company stock valued at $13,026,659. Corporate insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

Institutional investors have recently bought and sold shares of the company. HHM Wealth Advisors LLC purchased a new stake in shares of M&T Bank in the 4th quarter valued at approximately $25,000. General Partner Inc. purchased a new stake in shares of M&T Bank in the 1st quarter valued at approximately $27,000. Fidelis Capital Partners LLC purchased a new stake in shares of M&T Bank in the 1st quarter valued at approximately $30,000. CVA Family Office LLC purchased a new stake in shares of M&T Bank in the 4th quarter valued at approximately $33,000. Finally, Planned Solutions Inc. purchased a new stake in shares of M&T Bank in the 4th quarter valued at approximately $33,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

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.