M&T Bank Co. (NYSE:MTB) Short Interest Update

M&T Bank Co. (NYSE:MTB) saw a significant increase in short interest in February. As of February 28th, there was short interest totalling 4,680,000 shares, an increase of 30.0% from the February 13th total of 3,600,000 shares. Based on an average trading volume of 1,280,000 shares, the days-to-cover ratio is currently 3.7 days. Currently, 2.8% of the company’s shares are short sold.

Insider Activity at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the transaction, the executive vice president now owns 10,751 shares in the company, valued at $1,852,827.34. This represents a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.53% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On M&T Bank

Several institutional investors have recently modified their holdings of MTB. Wood Tarver Financial Group LLC purchased a new position in M&T Bank in the fourth quarter worth about $29,000. Banque Transatlantique SA purchased a new position in M&T Bank in the fourth quarter worth about $38,000. Y.D. More Investments Ltd boosted its position in M&T Bank by 122.6% in the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 114 shares during the last quarter. Human Investing LLC purchased a new position in M&T Bank in the fourth quarter worth about $44,000. Finally, Sierra Ocean LLC purchased a new position in M&T Bank in the fourth quarter worth about $44,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Trading Down 0.3 %

M&T Bank stock opened at $174.82 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99. M&T Bank has a one year low of $133.03 and a one year high of $225.70. The stock has a market capitalization of $28.72 billion, a PE ratio of 11.95, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74. The business’s fifty day moving average is $191.75 and its 200 day moving average is $192.21.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, beating the consensus estimate of $3.70 by $0.22. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same quarter in the previous year, the firm earned $2.74 EPS. On average, sell-side analysts predict that M&T Bank will post 16.57 EPS for the current year.

M&T Bank announced that its board has approved a stock repurchase plan on Wednesday, January 22nd that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 12.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.09%. M&T Bank’s dividend payout ratio (DPR) is presently 36.91%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MTB. The Goldman Sachs Group upped their target price on M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Barclays increased their price objective on M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. Morgan Stanley decreased their price objective on M&T Bank from $269.00 to $253.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Finally, Evercore ISI decreased their price objective on M&T Bank from $234.00 to $205.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $222.03.

M&T Bank Company Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management and investment services. It operates through the following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.