Keefe, Bruyette & Woods Raises M&T Bank (NYSE:MTB) Price Target to $170.00

M&T Bank (NYSE:MTB) had its target price increased by Keefe, Bruyette & Woods from $162.00 to $170.00 in a research note released on Tuesday morning, Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Several other research firms also recently commented on MTB. Deutsche Bank Aktiengesellschaft downgraded M&T Bank from a buy rating to a hold rating and set a $145.00 price objective on the stock. in a report on Monday, December 18th. StockNews.com downgraded M&T Bank from a hold rating to a sell rating in a report on Wednesday, December 27th. Jefferies Financial Group reduced their price target on M&T Bank from $154.00 to $151.00 and set a hold rating on the stock in a report on Monday, April 8th. Wells Fargo & Company boosted their price target on M&T Bank from $145.00 to $150.00 and gave the company an equal weight rating in a report on Tuesday. Finally, Bank of America boosted their price target on M&T Bank from $157.00 to $160.00 and gave the company a buy rating in a report on Tuesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $158.48.

M&T Bank Trading Up 0.2 %

Shares of MTB stock opened at $139.30 on Tuesday. The firm has a market cap of $23.21 billion, a P/E ratio of 9.42, a price-to-earnings-growth ratio of 1.26 and a beta of 0.80. The business has a 50-day moving average price of $139.76 and a two-hundred day moving average price of $132.81. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. M&T Bank has a 12-month low of $108.53 and a 12-month high of $148.23.

M&T Bank (NYSE:MTB) last released its quarterly earnings data 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). The company had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same quarter in the prior year, the firm posted $4.09 EPS. Equities analysts anticipate that M&T Bank will post 13.93 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.73%. M&T Bank’s dividend payout ratio (DPR) is 35.16%.

Insider Transactions at M&T Bank

In other news, EVP Doris P. Meister sold 1,675 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $137.91, for a total value of $230,999.25. Following the sale, the executive vice president now directly owns 8,961 shares of the company’s stock, valued at approximately $1,235,811.51. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Doris P. Meister sold 1,675 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $137.91, for a total value of $230,999.25. Following the sale, the executive vice president now directly owns 8,961 shares of the company’s stock, valued at approximately $1,235,811.51. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Kirk W. Walters sold 28,845 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the sale, the director now directly owns 6,367 shares in the company, valued at $923,215. The disclosure for this sale can be found here. Insiders have sold a total of 35,481 shares of company stock valued at $5,114,624 in the last ninety days. 0.82% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On M&T Bank

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Penserra Capital Management LLC lifted its position in M&T Bank by 7.8% in the 4th quarter. Penserra Capital Management LLC now owns 930 shares of the financial services provider’s stock valued at $134,000 after acquiring an additional 67 shares in the last quarter. Carnegie Capital Asset Management LLC lifted its position in M&T Bank by 2.6% in the 3rd quarter. Carnegie Capital Asset Management LLC now owns 3,119 shares of the financial services provider’s stock valued at $394,000 after acquiring an additional 80 shares in the last quarter. Burns J W & Co. Inc. NY lifted its position in M&T Bank by 1.3% in the 4th quarter. Burns J W & Co. Inc. NY now owns 6,034 shares of the financial services provider’s stock valued at $827,000 after acquiring an additional 80 shares in the last quarter. First Horizon Advisors Inc. lifted its position in M&T Bank by 3.2% in the 4th quarter. First Horizon Advisors Inc. now owns 2,548 shares of the financial services provider’s stock valued at $349,000 after acquiring an additional 80 shares in the last quarter. Finally, Fulton Bank N.A. lifted its position in M&T Bank by 2.3% in the 1st quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider’s stock valued at $526,000 after acquiring an additional 81 shares in the last quarter. 84.68% of the stock is owned by 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.