M&T Bank (NYSE:MTB) Sets New 12-Month High – Time to Buy?

M&T Bank Corporation (NYSE:MTB)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $235.77 and last traded at $232.14, with a volume of 1709414 shares. The stock had previously closed at $228.12.

Wall Street Analysts Forecast Growth

MTB has been the subject of several analyst reports. Evercore cut shares of M&T Bank from an “outperform” rating to a “hold” rating and increased their price target for the company from $210.00 to $225.00 in a research report on Tuesday, January 6th. Jefferies Financial Group upped their price objective on shares of M&T Bank from $250.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of M&T Bank in a report on Monday, December 29th. Piper Sandler boosted their price target on M&T Bank from $225.00 to $235.00 in a report on Friday, January 16th. Finally, TD Cowen reaffirmed a “buy” rating on shares of M&T Bank in a research report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $224.29.

M&T Bank Stock Up 1.8%

The company’s fifty day simple moving average is $209.68 and its 200 day simple moving average is $197.48. The company has a quick ratio of 0.97, a current ratio of 0.90 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $36.61 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 1.03 and a beta of 0.60.

M&T Bank (NYSE:MTB) last announced its earnings results on Friday, January 16th. The financial services provider reported $4.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.47 by $0.25. The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.47 billion. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.During the same quarter in the prior year, the company earned $3.77 EPS. Analysts anticipate that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $6.00 annualized dividend and a yield of 2.5%. M&T Bank’s dividend payout ratio (DPR) is currently 35.19%.

Insider Transactions at M&T Bank

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 887 shares of the firm’s stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $215.79, for a total transaction of $191,405.73. Following the completion of the transaction, the insider owned 16,446 shares of the company’s stock, valued at approximately $3,548,882.34. This trade represents a 5.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John P. Barnes sold 17,866 shares of the business’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $220.81, for a total value of $3,944,991.46. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 30,912 shares of company stock worth $6,489,862. 0.53% of the stock is owned by insiders.

Institutional Investors Weigh In On M&T Bank

Several hedge funds have recently added to or reduced their stakes in MTB. Canoe Financial LP increased its holdings in shares of M&T Bank by 50.5% during the fourth quarter. Canoe Financial LP now owns 652,744 shares of the financial services provider’s stock valued at $131,515,000 after acquiring an additional 219,065 shares in the last quarter. Marshall Wace LLP increased its stake in M&T Bank by 6.2% during 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. Sumitomo Mitsui Trust Group Inc. increased its stake in 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 valued at $89,947,000 after purchasing an additional 13,749 shares in the last quarter. LSV Asset Management raised its holdings in M&T Bank by 14.5% in the fourth quarter. LSV Asset Management now owns 391,900 shares of the financial services provider’s stock worth $78,960,000 after buying an additional 49,500 shares during the last quarter. Finally, RNC Capital Management LLC lifted its stake in shares of M&T Bank by 1.0% in the fourth quarter. RNC Capital Management LLC now owns 365,052 shares of the financial services provider’s stock worth $73,551,000 after buying an additional 3,618 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

About M&T Bank

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.