M&T Bank (NYSE:MTB) Price Target Raised to $150.00 at Wells Fargo & Company

M&T Bank (NYSE:MTB) had its price target boosted by Wells Fargo & Company from $145.00 to $150.00 in a report published on Tuesday, Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

MTB has been the subject of a number of other research reports. Jefferies Financial Group cut their price target on shares of M&T Bank from $154.00 to $151.00 and set a hold rating for the company in a research note on Monday, April 8th. Wedbush reiterated an outperform rating and issued a $170.00 target price on shares of M&T Bank in a research report on Wednesday, April 10th. JPMorgan Chase & Co. raised their price target on M&T Bank from $160.00 to $170.00 and gave the company a neutral rating in a research report on Thursday, April 4th. StockNews.com lowered M&T Bank from a hold rating to a sell rating in a research note on Wednesday, December 27th. Finally, Deutsche Bank Aktiengesellschaft downgraded 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 research note on Monday, December 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, M&T Bank presently has a consensus rating of Hold and a consensus target price of $157.98.

M&T Bank Stock Down 2.5 %

MTB opened at $137.37 on Tuesday. M&T Bank has a twelve month low of $108.53 and a twelve month high of $148.23. The company’s 50-day moving average price is $139.44 and its two-hundred day moving average price 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. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.33.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter in the previous year, the company posted $4.09 earnings per share. As a group, equities analysts expect that M&T Bank will post 13.89 earnings per share for the current year.

M&T Bank Dividend Announcement

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

Insider Buying and Selling at M&T Bank

In related news, EVP Doris P. Meister sold 1,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was 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 legal filing with the SEC, which is available through the SEC website. In related news, EVP Doris P. Meister sold 1,000 shares of the firm’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 transaction, the executive vice president now directly owns 7,274 shares of the company’s stock, valued at $962,350.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction 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 directly owns 6,367 shares in the company, valued at approximately $923,215. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,481 shares of company stock valued at $5,114,624. Insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Virtu Financial LLC raised its position in M&T Bank by 17,405.3% during the first quarter. Virtu Financial LLC now owns 5,273,474 shares of the financial services provider’s stock valued at $105,417,000 after purchasing an additional 5,243,349 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of M&T Bank by 113.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 313,302 shares of the financial services provider’s stock worth $42,949,000 after purchasing an additional 2,645,478 shares during the last quarter. Spring Creek Capital LLC lifted its stake in M&T Bank by 217.0% in the first quarter. Spring Creek Capital LLC now owns 3,339,643 shares of the financial services provider’s stock worth $66,759,000 after acquiring an additional 2,286,251 shares during the period. Norges Bank bought a new position in shares of M&T Bank during the fourth quarter valued at approximately $232,322,000. Finally, Goldman Sachs Group Inc. increased its holdings in M&T Bank by 76.1% during the first quarter. Goldman Sachs Group Inc. now owns 3,560,334 shares of the financial services provider’s stock valued at $71,171,000 after buying an additional 1,538,436 shares during the period. Institutional investors 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.