M&T Bank Co. Reaches New 12-Month High at $124.40 (MTB)
M&T Bank Co. (NYSE:MTB) reached a new 52-week high during trading on Friday , AmericanBankingNews.com reports. The stock traded as high as $124.40 and last traded at $124.13, with a volume of 180,580 shares traded. The stock had previously closed at $123.24.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of M&T Bank Co. in a research note on Friday, May 30th. They now have a $127.00 price target on the stock. Separately, analysts at Sterne Agee initiated coverage on shares of M&T Bank Co. in a research note on Friday, May 30th. They set a “neutral” rating on the stock. Finally, analysts at Nomura initiated coverage on shares of M&T Bank Co. in a research note on Wednesday, May 14th. They set a “buy” rating and a $146.00 price target on the stock. Fourteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $121.85.
The stock’s 50-day moving average is $121.2 and its 200-day moving average is $117.. The company has a market cap of $16.269 billion and a P/E ratio of 15.74.
M&T Bank Co. (NYSE:MTB) last released its earnings data on Monday, April 14th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.04. During the same quarter in the previous year, the company posted $2.06 earnings per share. Analysts expect that M&T Bank Co. will post $7.64 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, June 30th. Investors of record on Monday, June 2nd will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Thursday, May 29th.
M&T Bank Corporation (NYSE:MTB) is a bank holding company.
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