M&T Bank (NYSE:MTB) Receives “Neutral” Rating from DA Davidson

DA Davidson reissued their neutral rating on shares of M&T Bank (NYSE:MTB) in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a $159.00 price objective on the financial services provider’s stock.

A number of other research firms also recently issued reports on MTB. UBS Group boosted their target price on shares of M&T Bank from $139.00 to $154.00 in a report on Wednesday, January 17th. JPMorgan Chase & Co. upped their price objective on M&T Bank from $170.00 to $180.00 and gave the stock a neutral rating in a report on Tuesday. Morgan Stanley boosted their price target on M&T Bank from $160.00 to $179.00 and gave the company an overweight rating in a research report on Wednesday, February 7th. Evercore ISI upped their price target on M&T Bank from $146.00 to $157.00 and gave the stock an in-line rating in a research note on Thursday, March 28th. Finally, Bank of America lifted their price objective on M&T Bank from $157.00 to $160.00 and gave the company a buy rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of Hold and an average price target of $157.98.

M&T Bank Trading Down 2.5 %

Shares of MTB opened at $137.37 on Tuesday. M&T Bank has a fifty-two week low of $108.53 and a fifty-two week high of $148.23. The company has a market capitalization of $22.89 billion, a PE ratio of 8.71, a price-to-earnings-growth ratio of 1.24 and a beta of 0.80. The stock has a fifty day moving average of $139.44 and a two-hundred day moving average of $132.72. 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) 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 21.49% and a return on equity of 11.59%. The business had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the prior year, the firm earned $4.09 EPS. As a group, analysts forecast that M&T Bank will post 13.89 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were given a $1.30 dividend. The ex-dividend date was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a yield of 3.79%. M&T Bank’s payout ratio is currently 32.95%.

Insider Activity

In related news, EVP Doris P. Meister sold 1,000 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $132.30, for a total value of $132,300.00. Following the completion of the transaction, the executive vice president now owns 7,274 shares of the company’s stock, valued at $962,350.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Doris P. Meister sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Doris P. Meister sold 1,675 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $137.91, for a total transaction of $230,999.25. Following the completion of 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 disclosure for this sale can be found here. Insiders sold 35,481 shares of company stock worth $5,114,624 over the last ninety days. Corporate insiders own 0.82% of the company’s stock.

Institutional Trading of M&T Bank

Several institutional investors and hedge funds have recently bought and sold shares of MTB. HHM Wealth Advisors LLC acquired a new stake in shares of M&T Bank during the 4th 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 position in M&T Bank during the 3rd quarter valued at approximately $27,000. General Partner Inc. acquired a new position in shares of M&T Bank during the first quarter valued at $27,000. Finally, Quarry LP bought a new position in M&T Bank in the 1st quarter worth about $27,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

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.