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

M&T Bank Co. (NYSE:MTB) saw a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 4,340,000 shares, a growth of 27.6% from the November 15th total of 3,400,000 shares. Based on an average trading volume of 1,090,000 shares, the days-to-cover ratio is currently 4.0 days.

M&T Bank Stock Up 0.3 %

M&T Bank stock traded up $0.51 during mid-day trading on Monday, hitting $199.80. 1,433,547 shares of the company’s stock were exchanged, compared to its average volume of 1,044,505. M&T Bank has a 1-year low of $128.31 and a 1-year high of $225.70. The stock has a 50 day moving average of $203.48 and a two-hundred day moving average of $176.47. The stock has a market cap of $33.15 billion, a P/E ratio of 14.79, a P/E/G ratio of 2.83 and a beta of 0.76. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.60 by $0.48. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. The business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.30 billion. As a group, analysts anticipate that M&T Bank will post 14.63 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Monday, December 2nd. M&T Bank’s payout ratio is 39.97%.

Insider Buying and Selling at M&T Bank

In related news, Vice Chairman Kevin J. Pearson sold 7,500 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $195.88, for a total value of $1,469,100.00. Following the completion of the transaction, the insider now owns 40,502 shares in the company, valued at $7,933,531.76. This trade represents a 15.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of M&T Bank stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total value of $537,566.10. Following the completion of the transaction, the insider now directly owns 16,429 shares in the company, valued at $3,546,856.81. This represents a 13.16 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 84,994 shares of company stock valued at $17,211,278. 0.82% of the stock is owned by insiders.

Institutional Trading of M&T Bank

Several large investors have recently modified their holdings of MTB. Plato Investment Management Ltd lifted its position in M&T Bank by 2,300.0% during the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 161 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of M&T Bank in the third quarter worth about $32,000. Hexagon Capital Partners LLC lifted its position 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 purchasing an additional 68 shares during the last quarter. Oakworth Capital Inc. bought a new stake in M&T Bank during the 2nd quarter valued at approximately $35,000. Finally, Migdal Insurance & Financial Holdings Ltd. grew its holdings in 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 valued at $37,000 after buying an additional 158 shares during the last quarter. 84.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Compass Point raised their price objective on shares of M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Piper Sandler boosted their target price on shares of M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Wells Fargo & Company increased their target price on M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a report on Friday, November 15th. Finally, Wedbush lifted their price target on M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $211.58.

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.