M&T Bank (NYSE:MTB) Stock Price Up 5.3%

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M&T Bank Co. (NYSE:MTB) shares rose 5.3% during trading on Monday . The company traded as high as $154.76 and last traded at $154.15, approximately 984,015 shares traded hands during trading. An increase of 28% from the average daily volume of 769,629 shares. The stock had previously closed at $146.44.

MTB has been the topic of several research reports. Keefe, Bruyette & Woods lowered their target price on M&T Bank from $189.00 to $185.00 and set an “outperform” rating on the stock in a report on Friday, July 19th. JPMorgan Chase & Co. lifted their price target on M&T Bank from $173.00 to $174.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 2nd. Citigroup decreased their price objective on shares of M&T Bank from $163.00 to $155.00 and set a “sell” rating on the stock in a research report on Monday. UBS Group lowered their price objective on shares of M&T Bank from $176.00 to $172.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, Zacks Investment Research downgraded shares of M&T Bank from a “buy” rating to a “hold” rating and set a $179.00 target price for the company. in a report on Monday, July 1st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. M&T Bank presently has a consensus rating of “Hold” and a consensus price target of $176.77.

The company has a market capitalization of $19.66 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 2.06 and a beta of 1.09. The stock has a fifty day moving average price of $151.93 and a two-hundred day moving average price of $163.13. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.53.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.70 by ($0.36). The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.53 billion. M&T Bank had a net margin of 29.81% and a return on equity of 14.26%. During the same quarter in the prior year, the company earned $3.26 earnings per share. As a group, research analysts forecast that M&T Bank Co. will post 13.88 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.59%. The ex-dividend date is Friday, August 30th. M&T Bank’s payout ratio is 31.10%.

In related news, EVP William J. Farrell II sold 3,070 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $163.82, for a total transaction of $502,927.40. Following the sale, the executive vice president now owns 10,774 shares in the company, valued at $1,764,996.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael J. Todaro bought 1,025 shares of the stock in a transaction on Monday, August 19th. The stock was purchased at an average cost of $149.51 per share, with a total value of $153,247.75. Following the completion of the purchase, the insider now directly owns 1,000 shares in the company, valued at approximately $149,510. The disclosure for this purchase can be found here. 0.54% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of MTB. Webster Bank N. A. purchased a new position in shares of M&T Bank during the 2nd quarter worth about $43,000. HM Payson & Co. purchased a new position in M&T Bank during the second quarter worth approximately $51,000. CSat Investment Advisory L.P. raised its stake in M&T Bank by 305.3% during the second quarter. CSat Investment Advisory L.P. now owns 304 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 229 shares during the period. CX Institutional boosted its holdings in shares of M&T Bank by 24.8% in the 2nd quarter. CX Institutional now owns 372 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 74 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new position in shares of M&T Bank in the 2nd quarter valued at $79,000. 82.11% of the stock is currently owned by institutional investors.

M&T Bank Company Profile (NYSE:MTB)

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.

Further Reading: Return on Investment (ROI) Defined, Explained

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