JPMorgan Chase & Co. Boosts M&T Bank (NYSE:MTB) Price Target to $180.00

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

Several other equities research analysts also recently issued reports on the stock. Wedbush reiterated an outperform rating and set a $170.00 price objective on shares of M&T Bank in a research note on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft downgraded shares of M&T Bank from a buy rating to a hold rating and set a $145.00 price objective for the company. in a research note on Monday, December 18th. Wells Fargo & Company boosted their price objective on shares of M&T Bank from $145.00 to $150.00 and gave the stock an equal weight rating in a research note on Tuesday. Morgan Stanley boosted their price objective on shares of M&T Bank from $160.00 to $179.00 and gave the stock an overweight rating in a research note on Wednesday, February 7th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of M&T Bank from $162.00 to $170.00 and gave the stock a market perform rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $158.48.

M&T Bank Stock Performance

Shares of MTB stock opened at $139.30 on Tuesday. M&T Bank has a one year low of $108.53 and a one year high of $148.23. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.94. The company has a 50 day moving average price of $139.76 and a 200 day moving average price of $132.81. The firm has a market capitalization of $23.21 billion, a price-to-earnings ratio of 9.42, a price-to-earnings-growth ratio of 1.26 and a beta of 0.80.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing the consensus estimate of $3.13 by ($0.11). M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period last year, the company posted $4.09 EPS. Sell-side analysts anticipate that M&T Bank will post 13.93 EPS for the current year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a yield of 3.73%. M&T Bank’s dividend payout ratio (DPR) is 35.16%.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Doris P. Meister sold 1,675 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total transaction of $230,999.25. Following the transaction, the executive vice president now directly owns 8,961 shares in the company, valued at approximately $1,235,811.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the 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 of the company’s stock, valued at $923,215. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Doris P. Meister sold 1,675 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $137.91, for a total transaction of $230,999.25. Following the sale, the executive vice president now directly owns 8,961 shares in the company, valued at $1,235,811.51. The disclosure for this sale can be found here. Insiders have sold 35,481 shares of company stock worth $5,114,624 in the last ninety days. 0.82% of the stock is owned by insiders.

Institutional Trading of M&T Bank

Institutional investors and hedge funds have recently modified their holdings of the business. GSA Capital Partners LLP acquired a new stake in shares of M&T Bank during the third quarter worth $833,000. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of M&T Bank by 8.3% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,985 shares of the financial services provider’s stock worth $504,000 after purchasing an additional 305 shares during the period. NBC Securities Inc. acquired a new stake in shares of M&T Bank during the third quarter worth $299,000. Metis Global Partners LLC raised its holdings in shares of M&T Bank by 15.2% during the third quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider’s stock worth $893,000 after purchasing an additional 931 shares during the period. Finally, Matrix Asset Advisors Inc. NY increased its holdings in shares of M&T Bank by 15.7% in 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 acquiring an additional 12,590 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

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.