M&T Bank (NYSE:MTB) Price Target Raised to $168.00

M&T Bank (NYSE:MTB) had its price objective boosted by Evercore ISI from $157.00 to $168.00 in a research note published on Tuesday morning, Benzinga reports. They currently have an in-line rating on the financial services provider’s stock.

Other analysts have also recently issued reports about the company. Wedbush restated an outperform rating and issued a $170.00 target price on shares of M&T Bank in a research report on Wednesday, April 10th. JPMorgan Chase & Co. lifted their price objective on shares of M&T Bank from $170.00 to $180.00 and gave the company a neutral rating in a research note on Tuesday, April 16th. Bank of America upped their price objective on shares of M&T Bank from $157.00 to $160.00 and gave the stock a buy rating in a report on Tuesday, April 16th. Royal Bank of Canada reissued an outperform rating and set a $160.00 target price on shares of M&T Bank in a research note on Tuesday, April 16th. Finally, DA Davidson reaffirmed a neutral rating and issued a $159.00 price target on shares of M&T Bank in a research note on Tuesday, April 16th. 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $161.51.

M&T Bank Stock Performance

MTB stock opened at $147.67 on Tuesday. The stock’s fifty day moving average is $148.00 and its two-hundred day moving average is $141.76. The stock has a market capitalization of $24.64 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 2.90 and a beta of 0.78. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.00 and a current ratio of 1.00. M&T Bank has a 1 year low of $108.53 and a 1 year high of $156.65.

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 for the quarter, missing the consensus estimate of $3.13 by ($0.11). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the prior year, the business earned $4.09 earnings per share. On average, research analysts predict that M&T Bank will post 13.99 EPS for the current year.

M&T Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be given a $1.35 dividend. This is a positive change from M&T Bank’s previous quarterly dividend of $1.30. The ex-dividend date is Monday, June 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.66%. M&T Bank’s dividend payout ratio (DPR) is 36.51%.

Insiders Place Their Bets

In other M&T Bank news, Director John P. Barnes sold 43,426 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $154.50, for a total value of $6,709,317.00. Following the completion of the transaction, the director now directly owns 35,480 shares in the company, valued at $5,481,660. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Doris P. Meister sold 1,638 shares of the stock in a transaction dated Wednesday, April 17th. The stock was 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 document filed with the SEC, which can be accessed through this hyperlink. Also, Director John P. Barnes sold 43,426 shares of M&T Bank stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $154.50, for a total value of $6,709,317.00. Following the transaction, the director now directly owns 35,480 shares in the company, valued at approximately $5,481,660. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,553 shares of company stock worth $14,724,147. Company insiders own 0.82% of the company’s stock.

Institutional Trading of M&T Bank

Several institutional investors have recently made changes to their positions in MTB. HHM Wealth Advisors LLC acquired a new stake in shares of M&T Bank during the 4th quarter valued at $25,000. General Partner Inc. acquired a new stake in M&T Bank during the first quarter valued at $27,000. Fidelis Capital Partners LLC purchased a new position in M&T Bank in the first quarter valued at about $30,000. BKM Wealth Management LLC acquired a new position in M&T Bank in the 4th quarter worth about $32,000. Finally, Headinvest LLC purchased a new stake in shares of M&T Bank during the 3rd quarter worth about $29,000. 84.68% of the stock is currently 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.