M&T Bank (NYSE:MTB) PT Raised to $150.00 at Wells Fargo & Company

M&T Bank (NYSE:MTB) had its price objective increased by Wells Fargo & Company from $145.00 to $150.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the financial services provider’s stock.

A number of other equities research analysts have also issued reports on MTB. Barclays increased their price target on M&T Bank from $150.00 to $170.00 and gave the company an equal weight rating in a research report on Tuesday, January 2nd. Royal Bank of Canada reaffirmed an outperform rating and issued a $160.00 price target on shares of M&T Bank in a research report on Tuesday. Evercore ISI increased their price target on M&T Bank from $146.00 to $157.00 and gave the company an in-line rating in a research report on Thursday, March 28th. Wedbush reaffirmed an outperform rating and issued a $170.00 price target on shares of M&T Bank in a research report on Wednesday, April 10th. Finally, Keefe, Bruyette & Woods increased their price target on M&T Bank from $155.00 to $162.00 and gave the company a market perform rating in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $157.98.

M&T Bank Stock Down 2.5 %

Shares of MTB opened at $137.37 on Tuesday. M&T Bank has a 52-week low of $108.53 and a 52-week high of $148.23. The company 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. The stock has a fifty day simple moving average of $139.44 and a two-hundred day simple moving average of $132.72. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.33.

M&T Bank (NYSE:MTB) last issued its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). M&T Bank had a return on equity of 11.59% and a net margin of 21.49%. The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period last year, the business earned $4.09 earnings per share. As a group, equities analysts forecast that M&T Bank will post 13.89 EPS for the current year.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank’s dividend payout ratio (DPR) is 32.95%.

Insiders Place Their Bets

In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the transaction, the director now owns 6,367 shares of the company’s stock, valued at $923,215. The transaction was disclosed in a filing with the SEC, which is available at this link. In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the transaction, the director now owns 6,367 shares of the company’s stock, valued at $923,215. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Doris P. Meister sold 1,000 shares of M&T Bank stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $132.30, for a total value of $132,300.00. Following the transaction, the executive vice president now directly owns 7,274 shares in the company, valued at approximately $962,350.20. The disclosure for this sale can be found here. Insiders have sold a total of 35,481 shares of company stock valued at $5,114,624 over the last quarter. Company insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Pasadena Private Wealth LLC purchased a new position in shares of M&T Bank in the 1st quarter valued at approximately $206,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of M&T Bank by 5.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,453 shares of the financial services provider’s stock valued at $2,538,000 after purchasing an additional 967 shares during the last quarter. Visionary Horizons LLC purchased a new position in shares of M&T Bank in the 1st quarter valued at approximately $413,000. Brookstone Capital Management grew its stake in shares of M&T Bank by 4.6% in the 1st quarter. Brookstone Capital Management now owns 4,858 shares of the financial services provider’s stock valued at $707,000 after purchasing an additional 213 shares during the last quarter. Finally, Sunbelt Securities Inc. grew its stake in shares of M&T Bank by 540.2% in the 1st quarter. Sunbelt Securities Inc. now owns 1,543 shares of the financial services provider’s stock valued at $224,000 after purchasing an additional 1,302 shares during the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

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.