M&T Bank (NYSE:MTB) Hits New 1-Year High – Should You Buy?

M&T Bank Co. (NYSE:MTB) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $209.00 and last traded at $208.99, with a volume of 21151 shares traded. The stock had previously closed at $193.14.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MTB. Wells Fargo & Company raised their target price on shares of M&T Bank from $165.00 to $190.00 and gave the stock an “underweight” rating in a report on Friday, October 18th. Wedbush lifted their price objective on shares of M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Citigroup lifted their price objective on shares of M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Finally, Royal Bank of Canada raised their target price on shares of M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $198.76.

M&T Bank Trading Up 12.1 %

The company has a market capitalization of $36.13 billion, a P/E ratio of 14.30, a P/E/G ratio of 2.72 and a beta of 0.74. The firm’s 50-day moving average price is $180.28 and its 200 day moving average price is $163.61. 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend was Tuesday, September 3rd. M&T Bank’s dividend payout ratio (DPR) is presently 39.97%.

Insider Buying and Selling

In related news, Vice Chairman Kevin J. Pearson sold 7,500 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $195.88, for a total transaction of $1,469,100.00. Following the transaction, the insider now directly owns 40,502 shares in the company, valued at approximately $7,933,531.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other M&T Bank news, CEO Rene F. Jones sold 23,071 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $193.88, for a total value of $4,473,005.48. Following the transaction, the chief executive officer now directly owns 77,226 shares in the company, valued at $14,972,576.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Kevin J. Pearson sold 7,500 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $195.88, for a total transaction of $1,469,100.00. Following the completion of the transaction, the insider now owns 40,502 shares in the company, valued at approximately $7,933,531.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,734 shares of company stock worth $14,055,727. 0.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Plato Investment Management Ltd boosted its stake in M&T Bank by 2,300.0% in the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 161 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of M&T Bank during the 3rd quarter valued at approximately $32,000. Hexagon Capital Partners LLC lifted its stake in shares of M&T Bank by 54.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after buying an additional 68 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of M&T Bank by 329.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after buying an additional 158 shares in the last quarter. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of M&T Bank during the 1st quarter valued at approximately $30,000. 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.