M&T Bank (NYSE:MTB) Given New $190.00 Price Target at Wells Fargo & Company

M&T Bank (NYSE:MTB) had its price objective lifted by Wells Fargo & Company from $165.00 to $190.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an underweight rating on the financial services provider’s stock.

Other research analysts have also issued research reports about the company. Jefferies Financial Group boosted their target price on M&T Bank from $160.00 to $161.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Wolfe Research upgraded M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 target price for the company in a research report on Friday, October 4th. Evercore ISI raised shares of M&T Bank from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $187.00 to $210.00 in a research note on Wednesday, October 2nd. Barclays lifted their price target on shares of M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Keefe, Bruyette & Woods lifted their price target on shares of M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, M&T Bank has an average rating of “Hold” and a consensus price target of $196.18.

M&T Bank Stock Down 0.7 %

Shares of NYSE:MTB opened at $197.55 on Friday. M&T Bank has a 1 year low of $108.53 and a 1 year high of $200.94. The business has a 50 day simple moving average of $172.93 and a two-hundred day simple moving average of $158.65. The firm has a market capitalization of $32.96 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 3.27 and a beta of 0.75. 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 announced its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.50 by $0.23. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. The business had revenue of $3.37 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the previous year, the business earned $5.12 earnings per share. On average, equities analysts predict that M&T Bank will post 14.16 EPS for the current year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend was Tuesday, September 3rd. M&T Bank’s payout ratio is presently 36.51%.

Insider Transactions at M&T Bank

In other news, Director Robert E. Sadler, Jr. sold 1,000 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total transaction of $172,230.00. Following the transaction, the director now directly owns 31,796 shares of the company’s stock, valued at approximately $5,476,225.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Michael J. Todaro sold 4,791 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $162.57, for a total transaction of $778,872.87. Following the sale, the executive vice president now directly owns 3,086 shares of the company’s stock, valued at $501,691.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total transaction of $172,230.00. Following the sale, the director now directly owns 31,796 shares in the company, valued at $5,476,225.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,699 shares of company stock valued at $5,115,349. Corporate insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

Hedge funds have recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC purchased a new stake in M&T Bank in the first quarter valued at $30,000. Hexagon Capital Partners LLC boosted its holdings in M&T Bank by 54.4% in the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 68 shares during the last quarter. Oakworth Capital Inc. purchased a new stake in M&T Bank in the second quarter valued at $35,000. nVerses Capital LLC purchased a new stake in M&T Bank in the third quarter valued at $53,000. Finally, Versant Capital Management Inc boosted its holdings in M&T Bank by 82.7% in the second quarter. Versant Capital Management Inc now owns 444 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 201 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other 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.