M&T Bank (NYSE:MTB) Reaches New 12-Month High on Analyst Upgrade

M&T Bank Corporation (NYSE:MTB) reached a new 52-week high during trading on Thursday after Keefe, Bruyette & Woods raised their price target on the stock from $220.00 to $230.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. M&T Bank traded as high as $207.34 and last traded at $205.9950, with a volume of 1048925 shares traded. The stock had previously closed at $204.09.

Several other equities research analysts have also weighed in on the company. Evercore ISI raised their price objective on M&T Bank from $222.00 to $225.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Truist Financial downgraded M&T Bank from a “buy” rating to a “hold” rating and set a $217.00 target price on the stock. in a research note on Friday, December 12th. TD Cowen raised their price target on shares of M&T Bank from $235.00 to $245.00 and gave the company a “buy” rating in a report on Monday, October 20th. Jefferies Financial Group lifted their price target on shares of M&T Bank from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, December 1st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of M&T Bank in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $214.62.

Insider Activity at M&T Bank

In related news, EVP Christopher E. Kay sold 5,250 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $191.70, for a total value of $1,006,425.00. Following the sale, the executive vice president directly owned 5,501 shares in the company, valued at $1,054,541.70. This trade represents a 48.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert E. Sadler, Jr. sold 6,000 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $190.06, for a total value of $1,140,360.00. Following the transaction, the director owned 17,070 shares of the company’s stock, valued at approximately $3,244,324.20. The trade was a 26.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

Several institutional investors and hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. raised its position in M&T Bank by 20.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,097,864 shares of the financial services provider’s stock valued at $196,243,000 after purchasing an additional 187,780 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of M&T Bank by 6.2% in the 2nd quarter. Marshall Wace LLP now owns 584,438 shares of the financial services provider’s stock valued at $113,375,000 after purchasing an additional 33,920 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of M&T Bank by 3.3% in the 1st quarter. Alliancebernstein L.P. now owns 472,009 shares of the financial services provider’s stock valued at $84,372,000 after purchasing an additional 14,973 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of M&T Bank by 3.1% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 463,669 shares of the financial services provider’s stock worth $89,947,000 after buying an additional 13,749 shares in the last quarter. Finally, Canoe Financial LP lifted its position in shares of M&T Bank by 46.8% during the 3rd quarter. Canoe Financial LP now owns 433,679 shares of the financial services provider’s stock worth $85,704,000 after buying an additional 138,173 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Stock Up 1.1%

The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.49. The firm has a 50 day moving average of $189.14 and a two-hundred day moving average of $191.97. The firm has a market capitalization of $31.65 billion, a price-to-earnings ratio of 12.68, a price-to-earnings-growth ratio of 0.97 and a beta of 0.61.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share for the quarter. The company had revenue of $1.54 billion for the quarter. M&T Bank had a net margin of 20.91% and a return on equity of 10.62%. As a group, sell-side analysts anticipate that M&T Bank Corporation will post 16.57 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $6.00 annualized dividend and a dividend yield of 2.9%. M&T Bank’s dividend payout ratio (DPR) is presently 36.95%.

M&T Bank Company Profile

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.