M&T Bank (NYSE:MTB) Rating Reiterated by Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of M&T Bank (NYSE:MTB) in a research report released on Tuesday, Benzinga reports. They currently have a $160.00 target price on the financial services provider’s stock.

A number of other equities analysts have also commented on MTB. Piper Sandler cut their price objective 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. Deutsche Bank Aktiengesellschaft downgraded shares of M&T Bank from a buy rating to a hold rating and set a $145.00 target price for the company. in a research report on Monday, December 18th. DA Davidson reissued a neutral rating and issued a $159.00 target price on shares of M&T Bank in a research report on Wednesday, March 6th. Jefferies Financial Group dropped their target price on shares of M&T Bank from $154.00 to $151.00 and set a hold rating for the company in a research report on Monday, April 8th. Finally, Bank of America boosted their target price on shares of M&T Bank from $157.00 to $160.00 and gave the stock a buy rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, M&T Bank currently has an average rating of Hold and a consensus target price of $158.48.

M&T Bank Stock Performance

Shares of MTB stock opened at $139.30 on Tuesday. M&T Bank has a 12 month low of $108.53 and a 12 month high of $148.23. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99. The firm has a market capitalization of $23.21 billion, a P/E ratio of 9.42, a P/E/G ratio of 1.26 and a beta of 0.80. The company’s fifty day moving average price is $139.76 and its two-hundred day moving average price is $132.81.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data 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 10.68% and a net margin of 19.52%. The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the firm earned $4.09 EPS. On average, research analysts anticipate that M&T Bank will post 13.93 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date was Friday, March 1st. M&T Bank’s payout ratio is 35.16%.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the business’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 of the company’s stock, valued at approximately $923,215. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other M&T Bank news, EVP Doris P. Meister sold 3,961 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $143.60, for a total transaction of $568,799.60. Following the completion of the transaction, the executive vice president now directly owns 5,000 shares of the company’s stock, valued at approximately $718,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kirk W. Walters sold 28,845 shares of the business’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 transaction, the director now directly owns 6,367 shares of the company’s stock, valued at $923,215. The disclosure for this sale can be found here. Insiders sold 35,481 shares of company stock valued at $5,114,624 in the last ninety days. Company insiders own 0.82% of the company’s stock.

Institutional Trading of M&T Bank

Institutional investors have recently made changes to their positions in the stock. HHM Wealth Advisors LLC acquired a new stake in shares of M&T Bank in the 4th quarter worth approximately $25,000. Clear Street Markets LLC acquired a new stake in shares of M&T Bank in the 4th quarter worth approximately $25,000. RVW Wealth LLC acquired a new stake in shares of M&T Bank in the 3rd quarter worth approximately $27,000. General Partner Inc. acquired a new stake in shares of M&T Bank in the 1st quarter worth approximately $27,000. Finally, Quarry LP acquired a new stake in shares of M&T Bank in the 1st quarter worth approximately $27,000. 84.68% of the stock is 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.