M&T Bank (NYSE:MTB) PT Raised to $150.00

M&T Bank (NYSE:MTB) had its price objective lifted by Wells Fargo & Company from $145.00 to $150.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the financial services provider’s stock.

A number of other equities analysts have also weighed in on MTB. Wedbush restated an outperform rating and set a $170.00 price target on shares of M&T Bank in a research report on Wednesday, April 10th. Jefferies Financial Group lowered their price target on shares of M&T Bank from $154.00 to $151.00 and set a hold rating on the stock in a research report on Monday, April 8th. UBS Group boosted their price target on shares of M&T Bank from $139.00 to $154.00 in a research report on Wednesday, January 17th. Royal Bank of Canada reiterated an outperform rating and issued a $160.00 target price on shares of M&T Bank in a report on Tuesday. Finally, 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. 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $158.48.

M&T Bank Stock Up 2.9 %

Shares of NYSE MTB opened at $143.38 on Tuesday. The company’s 50-day simple moving average is $139.96 and its 200-day simple moving average is $132.96. M&T Bank has a 52-week low of $108.53 and a 52-week high of $148.23. The firm has a market cap of $23.89 billion, a price-to-earnings ratio of 9.69, a price-to-earnings-growth ratio of 1.16 and a beta of 0.80. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46.

M&T Bank (NYSE:MTB) last announced its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the business earned $4.09 EPS. Equities analysts predict that M&T Bank will post 13.95 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently declared 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 was Friday, March 1st. M&T Bank’s dividend payout ratio (DPR) is 35.16%.

Insider Activity

In other news, Director Kirk W. Walters sold 28,845 shares of the business’s stock in a transaction that occurred 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 sale, 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 Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Doris P. Meister sold 1,675 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total transaction of $230,999.25. Following the sale, the executive vice president now directly owns 8,961 shares of the company’s stock, valued at approximately $1,235,811.51. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kirk W. Walters sold 28,845 shares of the company’s 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 sale, the director now directly owns 6,367 shares in the company, valued at $923,215. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,119 shares of company stock valued at $5,341,012. Company insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

Several large investors have recently added to or reduced their stakes in the business. Penserra Capital Management LLC increased its stake in M&T Bank by 7.8% during the 4th quarter. Penserra Capital Management LLC now owns 930 shares of the financial services provider’s stock worth $134,000 after buying an additional 67 shares during the period. Carnegie Capital Asset Management LLC increased its stake in M&T Bank by 2.6% during the 3rd quarter. Carnegie Capital Asset Management LLC now owns 3,119 shares of the financial services provider’s stock worth $394,000 after buying an additional 80 shares during the period. Burns J W & Co. Inc. NY increased its stake in M&T Bank by 1.3% during the 4th quarter. Burns J W & Co. Inc. NY now owns 6,034 shares of the financial services provider’s stock worth $827,000 after buying an additional 80 shares during the period. First Horizon Advisors Inc. increased its stake in M&T Bank by 3.2% during the 4th quarter. First Horizon Advisors Inc. now owns 2,548 shares of the financial services provider’s stock worth $349,000 after buying an additional 80 shares during the period. Finally, Fulton Bank N.A. increased its stake in M&T Bank by 2.3% during the 1st quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider’s stock worth $526,000 after buying an additional 81 shares during the period. 84.68% of the stock is owned by hedge funds and other 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.