M&T Bank (NYSE:MTB) Given New $180.00 Price Target at JPMorgan Chase & Co.

M&T Bank (NYSE:MTB) had its price objective raised by JPMorgan Chase & Co. from $170.00 to $180.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

Several other research analysts have also issued reports on MTB. Morgan Stanley increased their price target on shares of M&T Bank from $160.00 to $179.00 and gave the stock an overweight rating in a research note on Wednesday, February 7th. Royal Bank of Canada reiterated an outperform rating and issued a $160.00 price target on shares of M&T Bank in a research note on Tuesday. Bank of America increased their price objective on shares of M&T Bank from $157.00 to $160.00 and gave the company a buy rating in a research report on Tuesday. Wedbush reissued an outperform rating and set a $170.00 price objective on shares of M&T Bank in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company increased their price objective on shares of M&T Bank from $145.00 to $150.00 and gave the company an equal weight rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $157.98.

M&T Bank Stock Down 2.5 %

Shares of NYSE MTB opened at $137.37 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The firm has a fifty day simple moving average of $139.44 and a two-hundred day simple moving average of $132.72. The firm has a market capitalization of $22.89 billion, a PE ratio of 8.71, a price-to-earnings-growth ratio of 1.24 and a beta of 0.80. M&T Bank has a 12 month low of $108.53 and a 12 month high of $148.23.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11). The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. M&T Bank had a return on equity of 11.59% and a net margin of 21.49%. During the same quarter in the previous year, the business earned $4.09 earnings per share. Equities analysts expect that M&T Bank will post 13.89 earnings per share for the current year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date was Friday, March 1st. M&T Bank’s payout ratio is presently 32.95%.

Insider Buying and Selling

In related news, EVP Doris P. Meister sold 1,675 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total value of $230,999.25. Following the transaction, the executive vice president now owns 8,961 shares of the company’s stock, valued at $1,235,811.51. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the sale, the director now owns 6,367 shares in the company, valued at approximately $923,215. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Doris P. Meister sold 1,675 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $137.91, for a total transaction of $230,999.25. Following the sale, the executive vice president now owns 8,961 shares in the company, valued at approximately $1,235,811.51. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,481 shares of company stock valued at $5,114,624. 0.82% of the stock is owned by insiders.

Institutional Investors Weigh In On M&T Bank

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTB. Raymond James & Associates raised its stake in M&T Bank by 7.0% during the 1st quarter. Raymond James & Associates now owns 134,655 shares of the financial services provider’s stock worth $2,692,000 after acquiring an additional 8,765 shares during the period. American Century Companies Inc. raised its stake in M&T Bank by 112.8% during the 1st quarter. American Century Companies Inc. now owns 82,957 shares of the financial services provider’s stock worth $1,658,000 after acquiring an additional 43,979 shares during the period. US Bancorp DE raised its stake in M&T Bank by 9.4% during the 1st quarter. US Bancorp DE now owns 15,149 shares of the financial services provider’s stock worth $303,000 after acquiring an additional 1,304 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in M&T Bank by 7.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 59,394 shares of the financial services provider’s stock worth $1,187,000 after acquiring an additional 4,175 shares during the period. Finally, AlphaCrest Capital Management LLC bought a new stake in shares of M&T Bank during the first quarter valued at approximately $306,000. Institutional investors own 84.68% of the company’s stock.

About M&T Bank

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.