M&T Bank (NYSE:MTB) had its price target trimmed by UBS Group from $176.00 to $172.00 in a research note issued to investors on Wednesday, Stock Target Advisor reports. The firm currently has a neutral rating on the financial services provider’s stock.
MTB has been the subject of a number of other reports. Zacks Investment Research cut First Merchants from a hold rating to a sell rating in a report on Monday, July 1st. ValuEngine cut Wolverine World Wide from a hold rating to a sell rating in a report on Monday, May 20th. Barclays set a $24.00 price target on Tenet Healthcare and gave the stock a hold rating in a report on Wednesday, April 17th. Citigroup set a $68.00 price target on Colgate-Palmolive and gave the stock a hold rating in a report on Tuesday, March 19th. Finally, JPMorgan Chase & Co. reiterated a buy rating on shares of Gilead Sciences in a report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. The company has an average rating of Hold and a consensus price target of $178.08.
Shares of NYSE:MTB opened at $174.07 on Wednesday. The stock has a market cap of $23.74 billion, a PE ratio of 13.54, a P/E/G ratio of 1.59 and a beta of 1.06. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.59. M&T Bank has a 52-week low of $133.78 and a 52-week high of $180.77. The company has a fifty day moving average of $167.45.
M&T Bank (NYSE:MTB) last released its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.35 earnings per share for the quarter, topping analysts’ consensus estimates of $3.30 by $0.05. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.51 billion. M&T Bank had a return on equity of 14.46% and a net margin of 30.84%. During the same period in the prior year, the business posted $2.23 EPS. Analysts predict that M&T Bank will post 14.56 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date was Friday, May 31st. M&T Bank’s dividend payout ratio (DPR) is 31.10%.
In other M&T Bank news, insider Doris P. Meister sold 460 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $160.29, for a total value of $73,733.40. Following the sale, the insider now owns 1,553 shares of the company’s stock, valued at approximately $248,930.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert J. Bojdak sold 1,638 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $170.03, for a total value of $278,509.14. Following the completion of the sale, the insider now directly owns 20,199 shares in the company, valued at approximately $3,434,435.97. The disclosure for this sale can be found here. Insiders have sold a total of 9,521 shares of company stock valued at $1,594,509 over the last 90 days. 0.54% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the business. Liberty Wealth Management LLC raised its position in M&T Bank by 972.7% in the 1st quarter. Liberty Wealth Management LLC now owns 236 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 214 shares in the last quarter. Pearl River Capital LLC acquired a new stake in M&T Bank in the 1st quarter valued at about $42,000. Webster Bank N. A. acquired a new stake in M&T Bank in the 2nd quarter valued at about $43,000. CX Institutional acquired a new stake in M&T Bank in the 1st quarter valued at about $47,000. Finally, Legacy Advisors LLC acquired a new stake in M&T Bank in the 1st quarter valued at about $66,000. 81.52% of the stock is currently owned by institutional investors.
About M&T Bank
M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.
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