M&T Bank (NYSE:MTB) Hits New 52-Week High – Time to Buy?

M&T Bank Corporation (NYSE:MTB) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $239.00 and last traded at $236.9120, with a volume of 72469 shares changing hands. The stock had previously closed at $236.21.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MTB shares. Jefferies Financial Group upped their price target on M&T Bank from $250.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, January 16th. Wolfe Research cut M&T Bank from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. Robert W. Baird upped their target price on M&T Bank from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, December 18th. Wall Street Zen raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, JPMorgan Chase & Co. raised their price target on shares of M&T Bank from $217.00 to $244.50 and gave the stock a “neutral” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $228.50.

M&T Bank Trading Up 0.2%

The firm has a market capitalization of $36.38 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 1.04 and a beta of 0.60. The company has a fifty day moving average price of $211.50 and a 200-day moving average price of $198.09. The company has a current ratio of 0.90, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.72 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.25. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.47 billion. M&T Bank had a net margin of 21.55% and a return on equity of 10.94%. During the same quarter last year, the firm earned $3.77 earnings per share. On average, equities research analysts predict that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 1st were issued a $1.50 dividend. The ex-dividend date was Monday, December 1st. This represents a $6.00 dividend on an annualized basis and a yield of 2.5%. M&T Bank’s dividend payout ratio is currently 35.19%.

Insider Activity

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 887 shares of the firm’s stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $215.79, for a total transaction of $191,405.73. Following the transaction, the insider directly owned 16,446 shares in the company, valued at $3,548,882.34. This trade represents a 5.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kirk W. Walters sold 909 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $227.37, for a total value of $206,679.33. Following the completion of the sale, the director directly owned 5,976 shares of the company’s stock, valued at $1,358,763.12. This represents a 13.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 30,912 shares of company stock valued at $6,489,862. Corporate insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

Large investors have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC raised its position in shares of M&T Bank by 2,214.3% in the second quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 155 shares during the period. Bank of Jackson Hole Trust grew its stake in M&T Bank by 342.9% in the 3rd quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock valued at $31,000 after buying an additional 120 shares during the last quarter. Triumph Capital Management bought a new position in M&T Bank in the 3rd quarter worth $32,000. Elyxium Wealth LLC bought a new position in M&T Bank in the 4th quarter worth $33,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in M&T Bank during the 2nd quarter worth $36,000. Institutional investors own 84.68% of the company’s stock.

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.