M&T Bank (NYSE:MTB) Hits New 52-Week High – Time to Buy?

M&T Bank Corporation (NYSE:MTB)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $255.68 and last traded at $254.9880, with a volume of 42561 shares. The stock had previously closed at $253.55.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Keefe, Bruyette & Woods boosted their price target on M&T Bank from $242.00 to $250.00 and gave the stock a “market perform” rating in a research note on Thursday, July 16th. Robert W. Baird lifted their price objective on M&T Bank from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Wall Street Zen upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Monday, July 20th. Cantor Fitzgerald boosted their target price on M&T Bank from $253.00 to $262.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Finally, DA Davidson upped their target price on shares of M&T Bank from $263.00 to $266.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Seven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, M&T Bank has a consensus rating of “Hold” and a consensus price target of $252.28.

M&T Bank Stock Performance

The firm has a market capitalization of $36.75 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 1.17 and a beta of 0.57. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.53. The business’s 50 day simple moving average is $240.00 and its two-hundred day simple moving average is $224.11.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share for the quarter, beating the consensus estimate of $4.66 by $0.69. M&T Bank had a return on equity of 11.80% and a net margin of 22.72%.The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same period in the prior year, the firm earned $4.28 EPS. Research analysts expect that M&T Bank Corporation will post 19.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On M&T Bank

Large investors have recently made changes to their positions in the company. Commonwealth Retirement Investments LLC increased its stake in M&T Bank by 0.4% during the fourth quarter. Commonwealth Retirement Investments LLC now owns 10,991 shares of the financial services provider’s stock worth $2,214,000 after acquiring an additional 44 shares during the last quarter. Wedbush Securities Inc. raised its holdings in shares of M&T Bank by 2.4% in the 4th quarter. Wedbush Securities Inc. now owns 2,223 shares of the financial services provider’s stock worth $448,000 after purchasing an additional 52 shares during the period. CX Institutional lifted its stake in shares of M&T Bank by 3.4% in the 2nd quarter. CX Institutional now owns 1,650 shares of the financial services provider’s stock valued at $393,000 after purchasing an additional 54 shares in the last quarter. Bank of Jackson Hole Trust lifted its stake in shares of M&T Bank by 38.7% in the 4th quarter. Bank of Jackson Hole Trust now owns 215 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 60 shares in the last quarter. Finally, Thoroughbred Financial Services LLC grew its holdings in shares of M&T Bank by 2.1% during the 4th quarter. Thoroughbred Financial Services LLC now owns 3,465 shares of the financial services provider’s stock worth $698,000 after purchasing an additional 70 shares during the period. 84.68% of the stock is currently owned by institutional investors.

About M&T Bank

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.