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

M&T Bank Co. (NYSE:MTB) saw a significant decrease in short interest in April. As of April 15th, there was short interest totalling 3,050,000 shares, a decrease of 14.6% from the March 31st total of 3,570,000 shares. Based on an average daily volume of 1,180,000 shares, the days-to-cover ratio is presently 2.6 days.

Wall Street Analyst Weigh In

Several research firms recently commented on MTB. Wedbush reissued an “outperform” rating and set a $170.00 target price on shares of M&T Bank in a research note on Wednesday, April 10th. Royal Bank of Canada reissued an “outperform” rating and set a $160.00 price objective on shares of M&T Bank in a research note on Tuesday, April 16th. Wells Fargo & Company upped their target price on M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a report on Tuesday, April 16th. Morgan Stanley lifted their price target on M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of M&T Bank from $170.00 to $180.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $158.48.

M&T Bank Stock Down 0.4 %

MTB stock opened at $146.38 on Monday. The company has a 50 day moving average of $141.00 and a two-hundred day moving average of $133.88. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. M&T Bank has a 12-month low of $108.53 and a 12-month high of $148.93. The company has a market cap of $24.39 billion, a price-to-earnings ratio of 9.90, a PEG ratio of 1.22 and a beta of 0.80.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the firm earned $4.09 earnings per share. On average, equities analysts anticipate that M&T Bank will post 13.92 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were given a $1.30 dividend. The ex-dividend date was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.55%. M&T Bank’s dividend payout ratio is currently 35.16%.

Insider Transactions at M&T Bank

In other M&T Bank news, EVP Doris P. Meister sold 1,638 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $138.21, for a total transaction of $226,387.98. Following the transaction, the executive vice president now owns 3,362 shares of the company’s stock, valued at approximately $464,662.02. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Doris P. Meister sold 1,675 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $137.91, for a total transaction of $230,999.25. Following the completion of the transaction, the executive vice president now owns 8,961 shares of the company’s stock, valued at $1,235,811.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Doris P. Meister sold 1,638 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total transaction of $226,387.98. Following the completion of the sale, the executive vice president now owns 3,362 shares in the company, valued at $464,662.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,119 shares of company stock valued at $5,341,012. 0.82% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MTB. Burns J W & Co. Inc. NY raised its position in shares of M&T Bank by 1.3% in the fourth quarter. Burns J W & Co. Inc. NY now owns 6,034 shares of the financial services provider’s stock valued at $827,000 after purchasing an additional 80 shares during the period. First Horizon Advisors Inc. grew its stake in M&T Bank by 3.2% in the 4th quarter. First Horizon Advisors Inc. now owns 2,548 shares of the financial services provider’s stock valued at $349,000 after buying an additional 80 shares during the last quarter. Fulton Bank N.A. raised its holdings in M&T Bank by 2.3% in the 1st quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider’s stock worth $526,000 after acquiring an additional 81 shares during the period. Robinson Value Management Ltd. lifted its position in M&T Bank by 0.3% during the 3rd quarter. Robinson Value Management Ltd. now owns 33,542 shares of the financial services provider’s stock worth $4,241,000 after acquiring an additional 85 shares during the last quarter. Finally, Tritonpoint Wealth LLC lifted its holdings in shares of M&T Bank by 2.3% during the first quarter. Tritonpoint Wealth LLC now owns 3,833 shares of the financial services provider’s stock worth $510,000 after buying an additional 87 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

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.