Evercore ISI Raises M&T Bank (NYSE:MTB) Price Target to $157.00

M&T Bank (NYSE:MTB - Free Report) had its target price raised by Evercore ISI from $146.00 to $157.00 in a research report sent to investors on Thursday, Benzinga reports. Evercore ISI currently has an in-line rating on the financial services provider's stock.

Several other research firms have also recently weighed in on MTB. DA Davidson reiterated a neutral rating and issued a $159.00 price target on shares of M&T Bank in a report on Wednesday, March 6th. Royal Bank of Canada reaffirmed an outperform rating and set a $160.00 price target on shares of M&T Bank in a research report on Friday, January 19th. Piper Sandler decreased their target price on shares of M&T Bank from $156.00 to $152.00 and set an overweight rating on the stock in a report on Friday, January 19th. Morgan Stanley raised their target price on shares of M&T Bank from $160.00 to $179.00 and gave the company an overweight rating in a report on Wednesday, February 7th. Finally, StockNews.com downgraded shares of M&T Bank from a hold rating to a sell rating in a research note on Wednesday, December 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, M&T Bank presently has an average rating of Hold and an average price target of $150.17.

M&T Bank Stock Up 0.4 %

Shares of NYSE:MTB traded up $0.64 during trading on Thursday, reaching $145.44. 792,221 shares of the company traded hands, compared to its average volume of 1,225,115. The firm has a fifty day simple moving average of $139.09 and a 200 day simple moving average of $131.39. The firm has a market cap of $24.23 billion, a P/E ratio of 9.22, a price-to-earnings-growth ratio of 1.25 and a beta of 0.79. M&T Bank has a 1-year low of $108.53 and a 1-year high of $148.23. 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 - Get Free Report) last announced its earnings results on Thursday, January 18th. The financial services provider reported $2.74 EPS for the quarter, missing the consensus estimate of $3.10 by ($0.36). M&T Bank had a return on equity of 11.59% and a net margin of 21.49%. The firm had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the business earned $4.57 EPS. Analysts anticipate that M&T Bank will post 13.87 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Monday, March 4th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Friday, March 1st. M&T Bank's payout ratio is 32.95%.

Insider Activity at M&T Bank

In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of the firm's 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 sale, the executive vice president now directly owns 7,274 shares of the company's stock, valued at $962,350.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of M&T Bank stock in a transaction 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 sale, the executive vice president now owns 7,274 shares in the company, valued at $962,350.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kirk W. Walters sold 28,845 shares of the business's stock in a transaction on 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 completion of the sale, the director now owns 6,367 shares in the company, valued at approximately $923,215. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,481 shares of company stock worth $5,114,624. 0.82% of the stock is owned by corporate insiders.

Institutional Trading of M&T Bank

Large investors have recently made changes to their positions in the company. Raymond James & Associates grew its holdings 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 valued at $2,692,000 after buying an additional 8,765 shares during the last quarter. American Century Companies Inc. raised its position in shares of M&T Bank by 112.8% in the 1st quarter. American Century Companies Inc. now owns 82,957 shares of the financial services provider's stock worth $1,658,000 after buying an additional 43,979 shares during the period. US Bancorp DE raised its position in M&T Bank by 9.4% in the first quarter. US Bancorp DE now owns 15,149 shares of the financial services provider's stock valued at $303,000 after purchasing an additional 1,304 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in M&T Bank by 7.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 59,394 shares of the financial services provider's stock valued at $1,187,000 after purchasing an additional 4,175 shares during the period. Finally, AlphaCrest Capital Management LLC purchased a new stake in shares of M&T Bank during the first quarter worth about $306,000. 84.68% of the stock is owned by institutional investors and hedge funds.

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.