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

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

MTB has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft lowered shares of M&T Bank from a buy rating to a hold rating and set a $145.00 target price on the stock. in a report on Monday, December 18th. Morgan Stanley upped their price objective on shares of M&T Bank from $160.00 to $179.00 and gave the company an overweight rating in a report on Wednesday, February 7th. Wells Fargo & Company upped their price objective on shares of M&T Bank from $145.00 to $150.00 and gave the company an equal weight rating in a report on Tuesday. StockNews.com lowered shares of M&T Bank from a hold rating to a sell rating in a report on Wednesday, December 27th. Finally, Wedbush reiterated an outperform rating and set a $170.00 price objective on shares of M&T Bank in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $158.48.

M&T Bank Price Performance

MTB stock opened at $143.38 on Tuesday. The firm 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. 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. The company’s fifty day simple moving average is $139.96 and its 200 day simple moving average is $132.96.

M&T Bank (NYSE:MTB) last released its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11). The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same quarter in the previous year, the firm earned $4.09 EPS. On average, analysts expect that M&T Bank will post 13.95 earnings per share for the current year.

M&T Bank Announces Dividend

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

Insider Transactions at M&T Bank

In other news, EVP Doris P. Meister sold 1,638 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $138.21, for a total transaction of $226,387.98. Following the completion of the sale, the executive vice president now directly owns 3,362 shares of the company’s stock, valued at $464,662.02. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other M&T Bank news, EVP Doris P. Meister sold 1,638 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $138.21, for a total value of $226,387.98. Following the completion of the sale, the executive vice president now directly owns 3,362 shares of the company’s stock, valued at approximately $464,662.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Doris P. Meister sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $132.30, for a total transaction of $132,300.00. Following the completion of the sale, the executive vice president now directly owns 7,274 shares of the company’s stock, valued at $962,350.20. The disclosure for this sale can be found here. Insiders sold a total of 37,119 shares of company stock valued at $5,341,012 over the last three months. Corporate insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

A number of institutional investors have recently added to or reduced their stakes in MTB. Virtu Financial LLC grew its position in M&T Bank by 17,405.3% in the 1st quarter. Virtu Financial LLC now owns 5,273,474 shares of the financial services provider’s stock worth $105,417,000 after purchasing an additional 5,243,349 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in M&T Bank by 113.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 313,302 shares of the financial services provider’s stock worth $42,949,000 after purchasing an additional 2,645,478 shares in the last quarter. Spring Creek Capital LLC grew its position in shares of M&T Bank by 217.0% during the 1st quarter. Spring Creek Capital LLC now owns 3,339,643 shares of the financial services provider’s stock valued at $66,759,000 after acquiring an additional 2,286,251 shares during the period. Norges Bank bought a new position in shares of M&T Bank during the 4th quarter valued at approximately $232,322,000. Finally, Goldman Sachs Group Inc. grew its position in shares of M&T Bank by 76.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,560,334 shares of the financial services provider’s stock valued at $71,171,000 after acquiring an additional 1,538,436 shares during the period. 84.68% of the stock is owned by institutional investors.

M&T Bank Company Profile

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.