M&T Bank’s (MTB) “Neutral” Rating Reaffirmed at DA Davidson

DA Davidson reaffirmed their neutral rating on shares of M&T Bank (NYSE:MTB) in a research report sent to investors on Tuesday morning, Benzinga reports. DA Davidson currently has a $159.00 target price on the financial services provider’s stock.

A number of other analysts have also recently issued reports on the company. JPMorgan Chase & Co. increased their target price on M&T Bank from $170.00 to $180.00 and gave the stock a neutral rating in a research note on Tuesday. StockNews.com lowered shares of M&T Bank from a hold rating to a sell rating in a report on Wednesday, December 27th. Morgan Stanley upped their target price 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. Evercore ISI increased their target price on M&T Bank from $146.00 to $157.00 and gave the stock an in-line rating in a report on Thursday, March 28th. Finally, Bank of America boosted their price target on M&T Bank from $157.00 to $160.00 and gave the company a buy rating in a report on Tuesday. One equities 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, M&T Bank has an average rating of Hold and an average price target of $157.98.

M&T Bank Stock Performance

Shares of NYSE:MTB opened at $137.37 on Tuesday. The firm’s 50 day simple moving average is $139.44 and its 200 day simple moving average is $132.72. M&T Bank has a fifty-two week low of $108.53 and a fifty-two week high of $148.23. The company has a market capitalization of $22.89 billion, a price-to-earnings ratio of 8.71, a P/E/G ratio of 1.24 and a beta of 0.80. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.99 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB) last posted 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 firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the business posted $4.09 earnings per share. As a group, sell-side analysts forecast that M&T Bank will post 13.89 earnings per share for the current year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were given a $1.30 dividend. This represents a $5.20 annualized dividend 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 Transactions at M&T Bank

In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the transaction, the director now directly owns 6,367 shares of the company’s stock, valued at approximately $923,215. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other M&T Bank news, EVP Doris P. Meister sold 1,675 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $137.91, for a total value of $230,999.25. Following the completion of the sale, the executive vice president now owns 8,961 shares of the company’s stock, valued at approximately $1,235,811.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kirk W. Walters sold 28,845 shares of the 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 in the company, valued at approximately $923,215. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,481 shares of company stock worth $5,114,624. 0.82% of the stock is owned by insiders.

Institutional Trading of M&T Bank

A number of institutional investors have recently modified their holdings of the stock. GSA Capital Partners LLP acquired a new stake in M&T Bank during the third quarter worth about $833,000. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of M&T Bank by 8.3% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,985 shares of the financial services provider’s stock worth $504,000 after acquiring an additional 305 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of M&T Bank during the 3rd quarter worth approximately $299,000. Metis Global Partners LLC increased its stake in M&T Bank by 15.2% in the third quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider’s stock valued at $893,000 after acquiring an additional 931 shares during the last quarter. Finally, Matrix Asset Advisors Inc. NY raised its position in M&T Bank by 15.7% during the fourth quarter. Matrix Asset Advisors Inc. NY now owns 92,537 shares of the financial services provider’s stock valued at $12,685,000 after purchasing an additional 12,590 shares in the last quarter. 84.68% of the stock is currently owned by 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.