M&T Bank (NYSE:MTB) Shares Gap Up to $145.80

M&T Bank Co. (NYSE:MTB – Get Rating)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $145.80, but opened at $150.10. M&T Bank shares last traded at $146.31, with a volume of 1,547 shares.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MTB. TheStreet upgraded shares of M&T Bank from a “c+” rating to a “b-” rating in a report on Tuesday, September 27th. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday. Wedbush upgraded shares of M&T Bank from a “neutral” rating to an “outperform” rating and set a $170.00 price target for the company in a research report on Tuesday, January 3rd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of M&T Bank from $255.00 to $175.00 in a research report on Friday, January 6th. Finally, Citigroup reduced their price target on shares of M&T Bank from $200.00 to $180.00 and set a “neutral” rating for the company in a research report on Friday, October 21st. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $182.72.

M&T Bank Stock Down 0.1 %

The firm has a market cap of $26.53 billion, a P/E ratio of 14.50, a P/E/G ratio of 0.84 and a beta of 0.83. The business’s fifty day moving average price is $154.22 and its two-hundred day moving average price is $168.42. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.15.

M&T Bank (NYSE:MTB – Get Rating) last posted its earnings results on Thursday, January 19th. The financial services provider reported $4.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.50 by ($0.21). M&T Bank had a net margin of 22.80% and a return on equity of 10.74%. During the same quarter last year, the business earned $3.37 earnings per share. As a group, equities research analysts anticipate that M&T Bank Co. will post 14.15 EPS for the current year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Thursday, December 1st were paid a $1.20 dividend. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $4.80 dividend on an annualized basis and a yield of 3.12%. M&T Bank’s payout ratio is presently 45.28%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. WealthTrust Axiom LLC grew its stake in M&T Bank by 1.8% in the 2nd quarter. WealthTrust Axiom LLC now owns 3,323 shares of the financial services provider’s stock valued at $529,000 after buying an additional 59 shares during the last quarter. SeaCrest Wealth Management LLC increased its holdings in shares of M&T Bank by 1.9% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 3,388 shares of the financial services provider’s stock worth $597,000 after purchasing an additional 62 shares during the period. Buckingham Strategic Wealth LLC raised its position in shares of M&T Bank by 2.0% during the third quarter. Buckingham Strategic Wealth LLC now owns 3,237 shares of the financial services provider’s stock valued at $571,000 after buying an additional 65 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of M&T Bank by 0.7% in the third quarter. IFP Advisors Inc now owns 9,492 shares of the financial services provider’s stock valued at $1,672,000 after buying an additional 69 shares during the period. Finally, Prentice Wealth Management LLC grew its position in M&T Bank by 3.6% during the third quarter. Prentice Wealth Management LLC now owns 2,118 shares of the financial services provider’s stock worth $373,000 after buying an additional 73 shares in the last quarter. 84.10% of the stock is currently owned by institutional investors and hedge funds.

About M&T Bank

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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.