Analysts Set M&T Bank Co. (NYSE:MTB) Target Price at $185.75

Shares of M&T Bank Co. (NYSE:MTB) have been given a consensus rating of “Moderate Buy” by the fifteen analysts that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $185.75.

A number of research analysts have commented on the stock. DA Davidson raised their target price on shares of M&T Bank from $159.00 to $185.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Citigroup raised their target price on shares of M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Wells Fargo & Company downgraded shares of M&T Bank from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $170.00 to $165.00 in a research report on Thursday, August 15th. Wolfe Research raised shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a research report on Friday, October 4th. Finally, JPMorgan Chase & Co. raised shares of M&T Bank from a “neutral” rating to an “overweight” rating and raised their target price for the company from $183.00 to $215.00 in a research report on Tuesday, September 3rd.

Insider Buying and Selling

In related news, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the sale, the director now directly owns 44,902 shares in the company, valued at $7,724,491.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the sale, the director now directly owns 44,902 shares in the company, valued at $7,724,491.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kirk W. Walters sold 7,464 shares of M&T Bank stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $173.97, for a total transaction of $1,298,512.08. Following the completion of the sale, the director now owns 15,045 shares of the company’s stock, valued at $2,617,378.65. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,699 shares of company stock worth $5,115,349 in the last three months. Corporate insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

A number of institutional investors have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA raised its position in M&T Bank by 4.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock worth $269,696,000 after buying an additional 81,004 shares during the last quarter. Dimensional Fund Advisors LP raised its position in M&T Bank by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock worth $244,129,000 after buying an additional 93,113 shares during the last quarter. Bank of New York Mellon Corp raised its position in M&T Bank by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,513,452 shares of the financial services provider’s stock worth $229,076,000 after buying an additional 44,442 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in M&T Bank by 3.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,398,199 shares of the financial services provider’s stock worth $211,631,000 after buying an additional 43,795 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its position in M&T Bank by 77.0% during the 2nd quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock worth $110,993,000 after buying an additional 319,051 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Trading Up 5.0 %

MTB stock opened at $198.83 on Friday. The company has a market capitalization of $33.17 billion, a PE ratio of 13.44, a P/E/G ratio of 3.27 and a beta of 0.75. M&T Bank has a 12 month low of $108.53 and a 12 month high of $200.94. The firm’s 50-day moving average is $172.23 and its 200 day moving average is $158.27. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 1.00.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, topping the consensus estimate of $3.50 by $0.23. The company had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $2.27 billion. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. During the same quarter last year, the firm posted $5.12 EPS. On average, research analysts anticipate that M&T Bank will post 14.16 EPS for the current year.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend was Tuesday, September 3rd. M&T Bank’s dividend payout ratio is currently 36.51%.

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.