M&T Bank (NYSE:MTB) Price Target Raised to $160.00

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

A number of other equities research analysts have also commented on MTB. DA Davidson reaffirmed a neutral rating and issued a $159.00 price objective on shares of M&T Bank in a research note on Wednesday, March 6th. Piper Sandler decreased their price target on M&T Bank from $156.00 to $152.00 and set an overweight rating for the company in a report on Friday, January 19th. Barclays lifted their price objective on M&T Bank from $150.00 to $170.00 and gave the stock an equal weight rating in a research report on Tuesday, January 2nd. Morgan Stanley upped their target price on M&T Bank from $160.00 to $179.00 and gave the company an overweight rating in a research report on Wednesday, February 7th. Finally, Deutsche Bank Aktiengesellschaft downgraded M&T Bank from a buy rating to a hold rating and set a $145.00 target price for the company. in a report on Monday, December 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $158.48.

M&T Bank Stock Up 2.9 %

Shares of NYSE:MTB opened at $143.38 on Tuesday. The business has a fifty day simple moving average of $139.96 and a 200 day simple moving average of $132.96. M&T Bank has a 12-month low of $108.53 and a 12-month high of $148.23. The firm has a market cap of $23.89 billion, a P/E ratio of 9.69, a P/E/G 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 (NYSE:MTB) last issued its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) 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 company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter last year, the business earned $4.09 earnings per share. Analysts predict that M&T Bank will post 13.95 earnings per share for the current year.

M&T Bank Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date was Friday, March 1st. M&T Bank’s payout ratio is 35.16%.

Insider Buying and Selling

In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were 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 owns 7,274 shares in the company, valued at approximately $962,350.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Kirk W. Walters sold 28,845 shares of the firm’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 transaction, the director now owns 6,367 shares in the company, valued at $923,215. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Doris P. Meister sold 1,000 shares of M&T Bank stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 7,274 shares in the company, valued at approximately $962,350.20. The disclosure for this sale can be found here. Insiders have sold a total of 37,119 shares of company stock worth $5,341,012 in the last ninety days. Corporate insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

Large investors have recently bought and sold shares of the stock. Penserra Capital Management LLC raised its holdings in shares of M&T Bank by 7.8% in the fourth quarter. Penserra Capital Management LLC now owns 930 shares of the financial services provider’s stock valued at $134,000 after purchasing an additional 67 shares during the last quarter. Carnegie Capital Asset Management LLC lifted its position in shares of M&T Bank by 2.6% during the 3rd quarter. Carnegie Capital Asset Management LLC now owns 3,119 shares of the financial services provider’s stock worth $394,000 after buying an additional 80 shares in the last quarter. Burns J W & Co. Inc. NY boosted its stake in shares of 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 worth $827,000 after buying an additional 80 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of M&T Bank by 3.2% in the fourth 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. increased its position in shares of M&T Bank by 2.3% during the first 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 during the last quarter. 84.68% of the stock is currently 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.