M&T Bank (NYSE:MTB) PT Raised to $150.00

M&T Bank (NYSE:MTB) had its price objective increased by Wells Fargo & Company from $145.00 to $150.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

A number of other equities research analysts also recently issued reports on the stock. Piper Sandler cut their price objective on shares of M&T Bank from $156.00 to $152.00 and set an overweight rating for the company in a research report on Friday, January 19th. DA Davidson reaffirmed a neutral rating and issued a $159.00 target price on shares of M&T Bank in a report on Wednesday, March 6th. Jefferies Financial Group dropped their target price on shares of M&T Bank from $154.00 to $151.00 and set a hold rating for the company in a report on Monday, April 8th. JPMorgan Chase & Co. upped their target price on shares of M&T Bank from $160.00 to $170.00 and gave the stock a neutral rating in a report on Thursday, April 4th. Finally, Evercore ISI upped their target price on shares of M&T Bank from $146.00 to $157.00 and gave the stock an in-line rating in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, M&T Bank has an average rating of Hold and a consensus price target of $158.48.

M&T Bank Trading Up 2.9 %

Shares of MTB stock opened at $143.38 on Tuesday. M&T Bank has a 1 year low of $108.53 and a 1 year high of $148.23. The firm has a fifty day moving average price of $139.96 and a 200-day moving average price of $132.96. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99. The company has a market cap of $23.89 billion, a price-to-earnings ratio of 9.69, a PEG ratio of 1.16 and a beta of 0.80.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data 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). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the previous year, the firm earned $4.09 EPS. As a group, equities analysts predict that M&T Bank will post 13.95 earnings per share 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 issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank’s dividend payout ratio (DPR) is presently 35.16%.

Insider Buying and Selling at M&T Bank

In other news, EVP Doris P. Meister sold 1,675 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were 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 approximately $1,235,811.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Doris P. Meister sold 1,675 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were 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 approximately $1,235,811.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Doris P. Meister sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $132.30, for a total transaction of $132,300.00. Following the sale, 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 sold 37,119 shares of company stock valued at $5,341,012 in the last 90 days. Insiders own 0.82% of the company’s stock.

Institutional Trading of M&T Bank

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTB. HHM Wealth Advisors LLC purchased a new stake in M&T Bank in the 4th quarter worth about $25,000. Clear Street Markets LLC purchased a new stake in M&T Bank in the 4th quarter worth about $25,000. RVW Wealth LLC purchased a new stake in M&T Bank in the 3rd quarter worth about $27,000. General Partner Inc. purchased a new position in shares of M&T Bank during the first quarter worth approximately $27,000. Finally, Quarry LP purchased a new position in shares of M&T Bank during the first quarter worth approximately $27,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

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.