M&T Bank Co. (NYSE:MTB) Short Interest Up 30.0% in February

M&T Bank Co. (NYSE:MTB) was the recipient of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 4,680,000 shares, an increase of 30.0% from the February 13th total of 3,600,000 shares. Approximately 2.8% of the shares of the company are sold short. Based on an average trading volume of 1,280,000 shares, the days-to-cover ratio is currently 3.7 days.

M&T Bank Trading Down 0.3 %

Shares of MTB stock traded down $0.60 on Tuesday, hitting $174.82. 805,056 shares of the company’s stock traded hands, compared to its average volume of 1,017,821. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. The stock has a market capitalization of $28.72 billion, a price-to-earnings ratio of 11.95, a P/E/G ratio of 1.38 and a beta of 0.74. The company’s fifty day simple moving average is $192.09 and its 200 day simple moving average is $192.19. M&T Bank has a one year low of $133.03 and a one year high of $225.70.

M&T Bank (NYSE:MTB) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same period last year, the firm posted $2.74 earnings per share. Equities analysts forecast that M&T Bank will post 16.57 EPS for the current year.

M&T Bank announced that its board has approved a share buyback plan on Wednesday, January 22nd that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 12.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Monday, March 3rd. M&T Bank’s dividend payout ratio is 36.91%.

Analysts Set New Price Targets

MTB has been the topic of several analyst reports. Truist Financial reiterated a “buy” rating and issued a $236.00 target price (up from $233.00) on shares of M&T Bank in a report on Friday, January 17th. Compass Point increased their price target on M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. Piper Sandler upped their price target on M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Finally, Morgan Stanley cut their price objective on shares of M&T Bank from $269.00 to $253.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $222.03.

Insider Buying and Selling at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the sale, the executive vice president now owns 10,751 shares of the company’s stock, valued at $1,852,827.34. This represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

Several institutional investors have recently added to or reduced their stakes in the company. Wood Tarver Financial Group LLC purchased a new position in shares of M&T Bank in the fourth quarter valued at about $29,000. Banque Transatlantique SA purchased a new position in M&T Bank during the 4th quarter valued at about $38,000. Y.D. More Investments Ltd raised its position in M&T Bank by 122.6% during the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 114 shares during the last quarter. Human Investing LLC bought a new stake in shares of M&T Bank in the 4th quarter worth approximately $44,000. Finally, Sierra Ocean LLC bought a new stake in shares of M&T Bank in the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Company Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management and investment services. It operates through the following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.