M&T Bank (NYSE:MTB) Price Target Raised to $215.00

M&T Bank (NYSE:MTB) had its target price upped by Morgan Stanley from $206.00 to $215.00 in a report issued on Friday,Benzinga reports. Morgan Stanley currently has an overweight rating on the financial services provider’s stock.

MTB has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft raised shares of M&T Bank from a “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a research note on Thursday, April 24th. Wall Street Zen raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. Jefferies Financial Group set a $225.00 target price on shares of M&T Bank and gave the stock a “buy” rating in a research note on Wednesday, May 21st. Citigroup lowered their target price on shares of M&T Bank from $230.00 to $195.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Finally, Robert W. Baird reduced their price target on M&T Bank from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $210.63.

M&T Bank Price Performance

M&T Bank stock opened at $184.74 on Friday. The company’s fifty day moving average price is $176.69 and its 200 day moving average price is $184.29. M&T Bank has a 1 year low of $145.25 and a 1 year high of $225.70. The stock has a market capitalization of $29.65 billion, a P/E ratio of 12.37, a P/E/G ratio of 1.32 and a beta of 0.62. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.97 and a current ratio of 0.97.

M&T Bank (NYSE:MTB) last announced its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.41 by ($0.03). M&T Bank had a return on equity of 10.18% and a net margin of 19.86%. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the firm earned $3.09 EPS. As a group, equities research analysts anticipate that M&T Bank will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be issued a $1.35 dividend. The ex-dividend date is Monday, June 2nd. This represents a $5.40 annualized dividend and a yield of 2.92%. M&T Bank’s dividend payout ratio (DPR) is currently 36.17%.

Insider Activity at M&T Bank

In other news, Director Robert E. Sadler, Jr. sold 6,700 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $183.52, for a total transaction of $1,229,584.00. Following the sale, the director now owns 23,070 shares of the company’s stock, valued at approximately $4,233,806.40. This represents a 22.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is owned by insiders.

Institutional Trading of M&T Bank

Several hedge funds have recently made changes to their positions in the business. US Bancorp DE raised its holdings in M&T Bank by 24.3% in the fourth quarter. US Bancorp DE now owns 8,382 shares of the financial services provider’s stock valued at $1,576,000 after acquiring an additional 1,639 shares in the last quarter. American Century Companies Inc. raised its holdings in M&T Bank by 0.9% in the fourth quarter. American Century Companies Inc. now owns 67,987 shares of the financial services provider’s stock valued at $12,782,000 after acquiring an additional 610 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new stake in M&T Bank in the fourth quarter valued at approximately $2,035,000. First Manhattan CO. LLC. raised its holdings in M&T Bank by 295.2% in the fourth quarter. First Manhattan CO. LLC. now owns 9,636 shares of the financial services provider’s stock valued at $1,812,000 after acquiring an additional 7,198 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in M&T Bank by 3.8% in the first quarter. Farther Finance Advisors LLC now owns 2,726 shares of the financial services provider’s stock valued at $481,000 after acquiring an additional 99 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Company Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.