M&T Bank (NYSE:MTB) Price Target Increased to $180.00 by Analysts at JPMorgan Chase & Co.

M&T Bank (NYSE:MTB) had its price objective boosted by JPMorgan Chase & Co. from $170.00 to $180.00 in a research note issued to investors on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the financial services provider’s stock.

MTB has been the topic of a number of other reports. StockNews.com downgraded shares of M&T Bank from a hold rating to a sell rating in a research report on Wednesday, December 27th. Barclays boosted their price objective on shares of M&T Bank from $150.00 to $170.00 and gave the company an equal weight rating in a research report on Tuesday, January 2nd. Keefe, Bruyette & Woods boosted their price objective on shares of M&T Bank from $162.00 to $170.00 and gave the company a market perform rating in a research report on Tuesday. Evercore ISI boosted their price objective on shares of M&T Bank from $146.00 to $157.00 and gave the company an in-line rating in a research report on Thursday, March 28th. Finally, Morgan Stanley boosted 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 report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $158.48.

M&T Bank Stock Performance

M&T Bank stock opened at $143.38 on Tuesday. The firm’s 50 day simple moving average is $139.96 and its 200-day simple moving average is $132.96. The company has a market cap of $23.89 billion, a P/E ratio of 9.69, a price-to-earnings-growth ratio of 1.16 and a beta of 0.80. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99. M&T Bank has a fifty-two week low of $108.53 and a fifty-two week high of $148.23.

M&T Bank (NYSE:MTB) last announced 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 net margin of 19.52% and a return on equity of 10.68%. The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the previous year, the firm posted $4.09 earnings per share. As a group, equities research analysts predict that M&T Bank will post 13.95 EPS for the current year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank’s payout ratio is 35.16%.

Insider Transactions at M&T Bank

In other news, EVP Doris P. Meister sold 1,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $132.30, for a total value of $132,300.00. Following the completion of the sale, the executive vice president now directly owns 7,274 shares in the company, valued at $962,350.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, 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 directly owns 6,367 shares in the company, valued at $923,215. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Doris P. Meister sold 1,000 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $132.30, for a total transaction of $132,300.00. Following the completion of the sale, the executive vice president now owns 7,274 shares of the company’s stock, valued at $962,350.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,119 shares of company stock worth $5,341,012. 0.82% of the stock is owned by insiders.

Hedge Funds Weigh In On M&T Bank

Several large investors have recently bought and sold shares of MTB. HHM Wealth Advisors LLC acquired a new position in M&T Bank during the 4th quarter valued at $25,000. Clear Street Markets LLC acquired a new position in M&T Bank during the 4th quarter valued at $25,000. RVW Wealth LLC acquired a new position in M&T Bank during the 3rd quarter valued at $27,000. General Partner Inc. acquired a new position in M&T Bank during the 1st quarter valued at $27,000. Finally, Quarry LP acquired a new position in M&T Bank during the 1st quarter valued at $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.