By otakuyassine3@gmail.com 
M&T Bank Co. (NYSE:MTB – Get Free Report) saw a large decline in short interest in December. As of December 15th, there was short interest totalling 3,580,000 shares, a decline of 17.5% from the November 30th total of 4,340,000 shares. Based on an average daily trading volume, of 1,150,000 shares, the days-to-cover ratio is presently 3.1 days.
M&T Bank Stock Down 0.9 %
M&T Bank stock traded down $1.80 during midday trading on Friday, hitting $189.23. 506,375 shares of the stock were exchanged, compared to its average volume of 1,052,930. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $31.40 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 2.83 and a beta of 0.76. M&T Bank has a 52-week low of $128.31 and a 52-week high of $225.70. The business’s 50-day moving average price is $204.09 and its 200-day moving average price is $179.01.
M&T Bank (NYSE:MTB – Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. The business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. On average, research analysts expect that M&T Bank will post 14.63 EPS for the current fiscal year.
M&T Bank Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be paid a dividend of $1.35 per share. The ex-dividend date is Monday, December 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.85%. M&T Bank’s payout ratio is currently 39.97%.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the stock. Compass Point raised their price target on shares of M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Evercore ISI raised their target price on M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Barclays lifted their target price on M&T Bank from $170.00 to $228.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods increased their price target on M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $215.50.
Get Our Latest Research Report on M&T Bank
Insider Activity
In related news, CEO Rene F. Jones sold 23,071 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $193.88, for a total transaction of $4,473,005.48. Following the completion of the sale, the chief executive officer now directly owns 77,226 shares in the company, valued at $14,972,576.88. This represents a 23.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John P. Barnes sold 20,000 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $193.97, for a total value of $3,879,400.00. Following the transaction, the director now directly owns 49,960 shares of the company’s stock, valued at approximately $9,690,741.20. The trade was a 28.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,994 shares of company stock worth $17,211,278. 0.82% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On M&T Bank
Institutional investors and hedge funds have recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in M&T Bank during the third quarter valued at about $44,000. Principal Financial Group Inc. lifted its stake in shares of M&T Bank by 1.4% during the 3rd quarter. Principal Financial Group Inc. now owns 199,111 shares of the financial services provider’s stock valued at $35,466,000 after buying an additional 2,797 shares in the last quarter. Smead Capital Management Inc. boosted its holdings in M&T Bank by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 493,817 shares of the financial services provider’s stock worth $87,959,000 after buying an additional 16,657 shares during the period. National Pension Service boosted its holdings in M&T Bank by 5.2% in the 3rd quarter. National Pension Service now owns 268,138 shares of the financial services provider’s stock worth $47,761,000 after buying an additional 13,302 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its stake in M&T Bank by 6.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 50,275 shares of the financial services provider’s stock valued at $8,955,000 after buying an additional 2,883 shares in the last quarter. 84.68% of the stock is owned by 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.
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