M&T Bank (NYSE:MTB) Price Target Increased to $160.00 by Analysts at Bank of America

M&T Bank (NYSE:MTB) had its price objective hoisted by Bank of America from $157.00 to $160.00 in a report issued on Tuesday, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

MTB has been the topic of a number of other research reports. Royal Bank of Canada restated an outperform rating and set a $160.00 price target on shares of M&T Bank in a report on Friday, January 19th. UBS Group upped their price target on M&T Bank from $139.00 to $154.00 in a research note on Wednesday, January 17th. Piper Sandler cut their price objective on M&T Bank from $156.00 to $152.00 and set an overweight rating on the stock in a research note on Friday, January 19th. DA Davidson reaffirmed a neutral rating and set a $159.00 target price on shares of M&T Bank in a research report on Wednesday, March 6th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of M&T Bank from $155.00 to $162.00 and gave the company a market perform rating in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $158.48.

M&T Bank Price Performance

MTB opened at $143.38 on Tuesday. The stock has a fifty day moving average price of $139.96 and a 200 day moving average price of $132.96. The company has a current ratio of 0.94, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. M&T Bank has a 1 year low of $108.53 and a 1 year high of $148.23. The stock 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 posted its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period last year, the business earned $4.09 earnings per share. Analysts forecast that M&T Bank will post 13.95 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were paid a $1.30 dividend. 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 payout ratio is presently 35.16%.

Insider Activity at M&T Bank

In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $132.30, for a total value of $132,300.00. Following the completion of the sale, the executive vice president now owns 7,274 shares in the company, valued at approximately $962,350.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Doris P. Meister sold 1,000 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $132.30, for a total value of $132,300.00. Following the completion of the transaction, the executive vice president now owns 7,274 shares in the company, valued at approximately $962,350.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Doris P. Meister sold 1,675 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was 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 of the company’s stock, valued at $1,235,811.51. The disclosure for this sale can be found here. Insiders have sold 37,119 shares of company stock worth $5,341,012 over the last three months. Company insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

A number of hedge funds have recently modified their holdings of the stock. HHM Wealth Advisors LLC acquired a new position in M&T Bank during the fourth quarter worth $25,000. Clear Street Markets LLC bought a new stake in M&T Bank during the fourth quarter worth about $25,000. RVW Wealth LLC bought a new position in shares of M&T Bank in the third quarter valued at approximately $27,000. General Partner Inc. bought a new stake in M&T Bank during the 1st quarter worth approximately $27,000. Finally, Quarry LP acquired a new stake in M&T Bank during the 1st quarter valued at $27,000. 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.