M&T Bank (NYSE:MTB) Price Target Increased to $170.00 by Analysts at Keefe, Bruyette & Woods

M&T Bank (NYSE:MTB) had its price objective upped by Keefe, Bruyette & Woods from $162.00 to $170.00 in a research report released on Tuesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Several other analysts have also recently weighed in on the stock. Wells Fargo & Company raised their target price on shares of M&T Bank from $145.00 to $150.00 and gave the company an equal weight rating in a report on Tuesday. Morgan Stanley raised their target price 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. JPMorgan Chase & Co. raised their target price on shares of M&T Bank from $160.00 to $170.00 and gave the company a neutral rating in a report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft cut shares of M&T Bank from a buy rating to a hold rating and set a $145.00 target price on the stock. in a report on Monday, December 18th. Finally, DA Davidson reissued a neutral rating and set a $159.00 price objective on shares of M&T Bank in a report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and an average target price of $157.98.

M&T Bank Trading Down 2.5 %

NYSE MTB opened at $137.37 on Tuesday. The firm has a 50 day simple moving average of $139.44 and a 200-day simple 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 has a one year low of $108.53 and a one year high of $148.23. The firm 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 (NYSE:MTB) last issued its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.13 by ($0.11). The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates 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 last year, the business earned $4.09 EPS. Equities research analysts anticipate that M&T Bank will post 13.89 EPS for the current fiscal year.

M&T Bank Announces Dividend

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

Insider Activity

In other news, EVP Doris P. Meister sold 1,000 shares of M&T Bank 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 transaction, the executive vice president now directly owns 7,274 shares of the company’s stock, valued at approximately $962,350.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Kirk W. Walters sold 28,845 shares of M&T Bank 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 transaction, the director now directly owns 6,367 shares in the company, valued at approximately $923,215. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Doris P. Meister sold 1,000 shares of M&T Bank stock in a transaction 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 transaction, the executive vice president now owns 7,274 shares in the company, valued at $962,350.20. The disclosure for this sale can be found here. Insiders have sold 35,481 shares of company stock valued at $5,114,624 in the last ninety days. 0.82% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On M&T Bank

Hedge funds and other institutional investors have recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new stake in shares of M&T Bank during the 3rd quarter worth $833,000. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of M&T Bank by 8.3% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,985 shares of the financial services provider’s stock worth $504,000 after buying an additional 305 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of M&T Bank during the 3rd quarter worth $299,000. Metis Global Partners LLC raised its stake in shares of M&T Bank by 15.2% during the 3rd quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider’s stock worth $893,000 after buying an additional 931 shares during the last quarter. Finally, Matrix Asset Advisors Inc. NY raised its stake in shares of M&T Bank by 15.7% during the 4th quarter. Matrix Asset Advisors Inc. NY now owns 92,537 shares of the financial services provider’s stock worth $12,685,000 after buying an additional 12,590 shares during the last quarter. 84.68% of the stock is currently 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.