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

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

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Wolfe Research upgraded shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a research note on Friday, October 4th. Bank of America upped their target price on shares of M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a report on Friday, October 18th. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods upped their target price on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a report on Friday, July 19th. Finally, Evercore ISI upped their target price on shares of M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and an average price target of $198.76.

M&T Bank Stock Up 12.1 %

The stock’s fifty day moving average price is $180.28 and its 200 day moving average price is $163.61. The stock has a market cap of $36.13 billion, a P/E ratio of 14.30, a price-to-earnings-growth ratio of 2.72 and a beta of 0.74. The company has a current ratio of 0.94, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a $1.35 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.49%. M&T Bank’s dividend payout ratio (DPR) is 39.97%.

Insider Activity

In other news, EVP John R. Taylor sold 1,436 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $195.03, for a total value of $280,063.08. Following the completion of the sale, the executive vice president now owns 5,618 shares of the company’s stock, valued at approximately $1,095,678.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP John R. Taylor sold 1,436 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $195.03, for a total value of $280,063.08. Following the completion of the sale, the executive vice president now owns 5,618 shares of the company’s stock, valued at approximately $1,095,678.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert E. Sadler, Jr. sold 2,000 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $198.00, for a total transaction of $396,000.00. Following the sale, the director now directly owns 29,796 shares of the company’s stock, valued at $5,899,608. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,734 shares of company stock valued at $14,055,727. Corporate insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

Institutional investors and hedge funds have recently modified their holdings of the stock. Plato Investment Management Ltd lifted its position in shares of M&T Bank by 2,300.0% in the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 161 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of M&T Bank in the 3rd quarter worth about $32,000. Hexagon Capital Partners LLC lifted its position in shares of M&T Bank by 54.4% in the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 68 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of M&T Bank by 329.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 158 shares during the period. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of M&T Bank in the 1st quarter worth about $30,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

About M&T Bank

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.