M&T Bank Co. (NYSE:MTB) Sees Significant Decrease in Short Interest

M&T Bank Co. (NYSE:MTB) saw a large decline in short interest in December. As of December 31st, there was short interest totalling 3,030,000 shares, a decline of 15.4% from the December 15th total of 3,580,000 shares. Based on an average daily volume of 1,140,000 shares, the days-to-cover ratio is presently 2.7 days.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MTB shares. Bank of America upped their price target on M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Wedbush upped their target price on M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. Wolfe Research raised M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price target for the company in a research note on Friday, October 4th. The Goldman Sachs Group boosted their price objective on shares of M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Finally, Compass Point raised their target price on shares of M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $216.86.

M&T Bank Trading Down 2.3 %

MTB stock traded down $4.71 during midday trading on Thursday, hitting $196.16. The stock had a trading volume of 2,392,870 shares, compared to its average volume of 1,422,347. The company’s 50-day moving average price is $202.90 and its 200 day moving average price is $183.07. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market cap of $32.55 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 2.16 and a beta of 0.79. M&T Bank has a 12-month low of $128.31 and a 12-month high of $225.70.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.70 by $0.22. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. During the same quarter in the previous year, the business earned $2.74 EPS. On average, equities research analysts predict that M&T Bank will post 14.58 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date was Monday, December 2nd. M&T Bank’s dividend payout ratio is currently 39.97%.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP John R. Taylor sold 1,436 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $195.03, for a total transaction of $280,063.08. Following the sale, the executive vice president now directly owns 5,618 shares in the company, valued at approximately $1,095,678.54. The trade was a 20.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Kevin J. Pearson sold 7,500 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $195.88, for a total transaction of $1,469,100.00. Following the completion of the transaction, the insider now owns 40,502 shares of the company’s stock, valued at $7,933,531.76. This represents a 15.62 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 84,994 shares of company stock valued at $17,211,278. 0.82% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Plato Investment Management Ltd increased its position in M&T Bank by 2,300.0% during the third 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 last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of M&T Bank during the 3rd quarter valued at $32,000. Hexagon Capital Partners LLC increased its holdings in shares of M&T Bank by 54.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after buying an additional 68 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised 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 buying an additional 158 shares during the period. Finally, Capital Performance Advisors LLP acquired a new position in M&T Bank in the third quarter valued at $44,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

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.