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

M&T Bank Co. (NYSE:MTB) was the recipient of a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 3,580,000 shares, a drop of 17.5% from the November 30th total of 4,340,000 shares. Based on an average daily volume of 1,150,000 shares, the days-to-cover ratio is presently 3.1 days.

Wall Street Analyst Weigh In

Several equities research analysts have commented on MTB shares. Citigroup lowered M&T Bank from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $220.00 to $230.00 in a research note on Monday, November 25th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $223.50 price objective (up previously from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. The Goldman Sachs Group lifted their price objective on M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. DA Davidson boosted their price target on shares of M&T Bank from $192.00 to $207.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Finally, Evercore ISI raised their price objective on shares of M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. One 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. Based on data from MarketBeat.com, M&T Bank presently has a consensus rating of “Hold” and a consensus target price of $215.50.

M&T Bank Stock Down 0.4 %

Shares of M&T Bank stock traded down $0.67 during trading on Monday, hitting $188.56. 553,413 shares of the stock were exchanged, compared to its average volume of 1,050,942. 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’s 50-day moving average price is $204.09 and its 200 day moving average price is $179.25. The stock has a market cap of $31.29 billion, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 2.83 and a beta of 0.76. 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 results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.60 by $0.48. The company had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. As a group, analysts forecast that M&T Bank will post 14.63 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date is Monday, December 2nd. M&T Bank’s dividend payout ratio (DPR) is 39.97%.

Insider Transactions at M&T Bank

In other news, Vice Chairman Gary N. Geisel sold 2,490 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total transaction of $537,566.10. Following the sale, the insider now directly owns 16,429 shares of the company’s stock, valued at $3,546,856.81. This represents a 13.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Rene F. Jones sold 23,071 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $193.88, for a total value of $4,473,005.48. Following the completion of the transaction, the chief executive officer now directly owns 77,226 shares of the company’s stock, valued at $14,972,576.88. The trade was a 23.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 84,994 shares of company stock worth $17,211,278 over the last three months. 0.82% of the stock is currently owned by insiders.

Hedge Funds Weigh In On M&T Bank

Several hedge funds have recently added to or reduced their stakes in MTB. Plato Investment Management Ltd boosted its holdings in shares of M&T Bank by 2,300.0% in the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock valued at $30,000 after buying an additional 161 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in M&T Bank in the third quarter valued at $32,000. Hexagon Capital Partners LLC boosted its stake in M&T Bank by 54.4% in the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 68 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of M&T Bank by 329.2% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 158 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of M&T Bank during the third quarter worth about $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.