M&T Bank (NYSE:MTB) PT Raised to $170.00

M&T Bank (NYSE:MTB) had its target price lifted by Keefe, Bruyette & Woods from $162.00 to $170.00 in a research report sent to investors on Tuesday, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Several other brokerages have also weighed in on MTB. DA Davidson reaffirmed a neutral rating and issued a $159.00 target price on shares of M&T Bank in a research report on Wednesday, March 6th. Wells Fargo & Company increased their price target on M&T Bank from $145.00 to $150.00 and gave the stock an equal weight rating in a research note on Tuesday. JPMorgan Chase & Co. increased their price target on M&T Bank from $160.00 to $170.00 and gave the stock a neutral rating in a research note on Thursday, April 4th. UBS Group increased their price target on M&T Bank from $139.00 to $154.00 in a research note on Wednesday, January 17th. Finally, Royal Bank of Canada reissued an outperform rating and issued a $160.00 price target on shares of M&T Bank in a research note on Tuesday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, M&T Bank currently has a consensus rating of Hold and an average target price of $157.98.

M&T Bank Price Performance

Shares of NYSE MTB opened at $137.37 on Tuesday. M&T Bank has a 1-year low of $108.53 and a 1-year high of $148.23. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.99 and a quick ratio of 0.99. The business’s fifty day moving average price is $139.44 and its two-hundred day moving average price is $132.72. The firm has a market capitalization of $22.89 billion, a PE ratio of 8.71, a P/E/G ratio of 1.24 and a beta of 0.80.

M&T Bank (NYSE:MTB) last issued its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing the consensus estimate 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 in the prior year, the business earned $4.09 earnings per share. On average, research analysts expect that M&T Bank will post 13.89 EPS for the current year.

M&T Bank Dividend Announcement

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

Insider Activity at M&T Bank

In related news, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the transaction, the director now owns 6,367 shares in the company, valued at approximately $923,215. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the transaction, the director now owns 6,367 shares in the company, valued at approximately $923,215. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Doris P. Meister sold 3,961 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $143.60, for a total value of $568,799.60. Following the completion of the transaction, the executive vice president now owns 5,000 shares of the company’s stock, valued at approximately $718,000. The disclosure for this sale can be found here. Insiders sold 35,481 shares of company stock worth $5,114,624 in the last quarter. 0.82% of the stock is owned by company insiders.

Institutional Investors Weigh In On M&T Bank

Several hedge funds have recently bought and sold shares of the business. Penserra Capital Management LLC lifted its stake in M&T Bank by 7.8% in the 4th quarter. Penserra Capital Management LLC now owns 930 shares of the financial services provider’s stock worth $134,000 after acquiring an additional 67 shares in the last quarter. Carnegie Capital Asset Management LLC lifted its stake in M&T Bank by 2.6% in the 3rd quarter. Carnegie Capital Asset Management LLC now owns 3,119 shares of the financial services provider’s stock worth $394,000 after acquiring an additional 80 shares in the last quarter. Burns J W & Co. Inc. NY lifted its stake in M&T Bank by 1.3% in the 4th quarter. Burns J W & Co. Inc. NY now owns 6,034 shares of the financial services provider’s stock worth $827,000 after acquiring an additional 80 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in M&T Bank by 3.2% in the 4th quarter. First Horizon Advisors Inc. now owns 2,548 shares of the financial services provider’s stock worth $349,000 after acquiring an additional 80 shares in the last quarter. Finally, Fulton Bank N.A. lifted its stake in M&T Bank by 2.3% in the 1st quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider’s stock worth $526,000 after acquiring an additional 81 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Company Profile

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.