M&T Bank (NYSE:MTB) Given New $180.00 Price Target at JPMorgan Chase & Co.

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

Several other research analysts have also recently weighed in on the stock. Barclays increased their price target on shares of M&T Bank from $150.00 to $170.00 and gave the company an equal weight rating in a report on Tuesday, January 2nd. Keefe, Bruyette & Woods increased their price target on shares of M&T Bank from $162.00 to $170.00 and gave the company a market perform rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft cut shares of M&T Bank from a buy rating to a hold rating and set a $145.00 price target on the stock. in a report on Monday, December 18th. Morgan Stanley increased their price target on shares of M&T Bank from $160.00 to $179.00 and gave the company an overweight rating in a report on Wednesday, February 7th. Finally, Wedbush reissued an outperform rating and issued a $170.00 price target on shares of M&T Bank in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, M&T Bank presently has an average rating of Hold and a consensus price target of $157.98.

M&T Bank Stock Down 2.5 %

Shares of MTB stock opened at $137.37 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 0.99. The firm’s 50-day moving average is $139.44 and its 200-day moving average is $132.72. The stock has a market cap of $22.89 billion, a price-to-earnings ratio of 8.71, a PEG ratio of 1.24 and a beta of 0.80. M&T Bank has a 52-week low of $108.53 and a 52-week high of $148.23.

M&T Bank (NYSE:MTB) last issued its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. M&T Bank had a net margin of 21.49% and a return on equity of 11.59%. During the same period in the previous year, the company posted $4.09 earnings per share. Sell-side analysts predict that M&T Bank will post 13.89 EPS for the current year.

M&T Bank Announces Dividend

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

Insider Buying and Selling

In related news, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $923,215. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other M&T Bank news, EVP Doris P. Meister sold 1,675 shares of the firm’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 value of $230,999.25. Following the sale, the executive vice president now owns 8,961 shares in the company, valued at $1,235,811.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kirk W. Walters sold 28,845 shares of the firm’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 transaction of $4,182,525.00. Following the completion of the sale, the director now owns 6,367 shares in the company, valued at approximately $923,215. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,481 shares of company stock worth $5,114,624. Corporate insiders own 0.82% of the company’s stock.

Institutional Trading of M&T Bank

A number of hedge funds have recently added to or reduced their stakes in MTB. Raymond James & Associates boosted its position in M&T Bank by 7.0% in the first quarter. Raymond James & Associates now owns 134,655 shares of the financial services provider’s stock valued at $2,692,000 after buying an additional 8,765 shares in the last quarter. American Century Companies Inc. boosted its position in M&T Bank by 112.8% in the first quarter. American Century Companies Inc. now owns 82,957 shares of the financial services provider’s stock valued at $1,658,000 after buying an additional 43,979 shares in the last quarter. US Bancorp DE raised its stake in shares of M&T Bank by 9.4% during the first quarter. US Bancorp DE now owns 15,149 shares of the financial services provider’s stock valued at $303,000 after acquiring an additional 1,304 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of M&T Bank by 7.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 59,394 shares of the financial services provider’s stock valued at $1,187,000 after acquiring an additional 4,175 shares during the last quarter. Finally, AlphaCrest Capital Management LLC bought a new position in shares of M&T Bank during the first quarter valued at $306,000. 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.