M&T Bank (NYSE:MTB) PT Raised to $180.00

M&T Bank (NYSE:MTB - Free Report) had its target price upped by JPMorgan Chase & Co. from $170.00 to $180.00 in a research report report published on Tuesday, Benzinga reports. They currently have a neutral rating on the financial services provider's stock.

Several other analysts also recently commented on MTB. StockNews.com downgraded shares of M&T Bank from a hold rating to a sell rating in a research report on Wednesday, December 27th. Jefferies Financial Group decreased their price objective on shares of M&T Bank from $154.00 to $151.00 and set a hold rating for the company in a report on Monday, April 8th. Evercore ISI upped their price objective on shares of M&T Bank from $146.00 to $157.00 and gave the stock an in-line rating in a report on Thursday, March 28th. Morgan Stanley upped their price objective on shares of M&T Bank from $160.00 to $179.00 and gave the stock an overweight rating in a report on Wednesday, February 7th. Finally, DA Davidson reiterated a neutral rating and set a $159.00 target price on shares of M&T Bank in a research note on Wednesday, March 6th. One investment 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's stock. Based on data from MarketBeat.com, M&T Bank currently has an average rating of Hold and an average price target of $157.98.

M&T Bank Price Performance

Shares of MTB stock traded down $3.57 during midday trading on Tuesday, reaching $137.37. 1,233,249 shares of the company were exchanged, compared to its average volume of 1,217,202. M&T Bank has a 12 month low of $108.53 and a 12 month high of $148.23. The company has a market cap of $22.89 billion, a P/E ratio of 8.70, a PEG ratio of 1.24 and a beta of 0.80. The company's 50 day moving average price is $139.33 and its two-hundred day moving average price is $132.65. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 0.99.

M&T Bank (NYSE:MTB - Get Free Report) last released its earnings results on Monday, April 15th. The financial services provider reported $3.02 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 business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the previous year, the firm earned $4.09 earnings per share. On average, sell-side analysts expect that M&T Bank will post 13.89 earnings per share for the current year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 3.79%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank's payout ratio is 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 transaction of $4,182,525.00. Following the sale, the director now owns 6,367 shares of the company's stock, valued at approximately $923,215. The sale 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 1,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $132.30, for a total transaction of $132,300.00. Following the sale, the executive vice president now owns 7,274 shares of the company's stock, valued at approximately $962,350.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kirk W. Walters sold 28,845 shares of the firm's stock in a transaction dated 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 completion of the transaction, the director now directly owns 6,367 shares in the company, valued at approximately $923,215. The disclosure for this sale can be found here. In 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 Trading of M&T Bank

A number of hedge funds have recently modified their holdings of MTB. HHM Wealth Advisors LLC acquired a new stake in shares of M&T Bank in the fourth quarter valued at approximately $25,000. Clear Street Markets LLC acquired a new stake in shares of M&T Bank during the fourth quarter worth $25,000. RVW Wealth LLC acquired a new stake in shares of M&T Bank during the third quarter worth $27,000. General Partner Inc. acquired a new stake in shares of M&T Bank during the first quarter worth $27,000. Finally, Quarry LP acquired a new position in M&T Bank in the first quarter valued at about $27,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

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.