M&T Bank (NYSE:MTB) Given New $189.00 Price Target at DA Davidson

M&T Bank (NYSE:MTB) had its target price trimmed by DA Davidson from $205.00 to $189.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

MTB has been the subject of a number of other research reports. Truist Financial reduced their target price on M&T Bank from $236.00 to $225.00 and set a “buy” rating for the company in a report on Friday, April 4th. JPMorgan Chase & Co. cut their price target on shares of M&T Bank from $212.50 to $186.50 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Wells Fargo & Company lowered their price objective on shares of M&T Bank from $205.00 to $185.00 and set an “underweight” rating for the company in a research note on Friday, March 28th. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, Citigroup dropped their price target on shares of M&T Bank from $230.00 to $195.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $208.14.

M&T Bank Stock Up 0.6 %

M&T Bank stock opened at $159.47 on Tuesday. The business’s 50-day simple moving average is $179.62 and its two-hundred day simple moving average is $191.54. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. The company has a market cap of $26.20 billion, a PE ratio of 10.90, a PEG ratio of 1.38 and a beta of 0.58. M&T Bank has a fifty-two week low of $136.18 and a fifty-two week high of $225.70.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing the consensus estimate of $3.41 by ($0.03). The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.35 billion. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same quarter in the previous year, the firm posted $3.09 earnings per share. Equities analysts anticipate that M&T Bank will post 16.57 EPS for the current year.

M&T Bank declared that its board has approved a share repurchase plan on Wednesday, January 22nd that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 12.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were given a $1.35 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $5.40 annualized dividend and a yield of 3.39%. M&T Bank’s dividend payout ratio (DPR) is 36.91%.

Insider Activity

In related news, EVP Christopher E. Kay sold 1,738 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the transaction, the executive vice president now owns 10,751 shares in the company, valued at $1,852,827.34. The trade was a 13.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wood Tarver Financial Group LLC purchased a new position in M&T Bank in the 4th quarter valued at $29,000. Banque Transatlantique SA purchased a new stake in M&T Bank in the 4th quarter valued at approximately $38,000. Y.D. More Investments Ltd lifted its holdings in shares of M&T Bank by 122.6% in the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock valued at $39,000 after buying an additional 114 shares during the period. Human Investing LLC purchased a new stake in shares of M&T Bank in the fourth quarter valued at approximately $44,000. Finally, Sierra Ocean LLC acquired a new position in M&T Bank during the fourth quarter worth $44,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

M&T Bank Company Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.