M&T Bank (NYSE:MTB) Price Target Raised to $150.00

M&T Bank (NYSE:MTB) had its target price increased by Wells Fargo & Company from $145.00 to $150.00 in a report issued on Tuesday morning, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

A number of other equities analysts have also weighed in on the company. Wedbush reaffirmed an outperform rating and set a $170.00 target price on shares of M&T Bank in a research report on Wednesday, April 10th. Piper Sandler lowered their target price on M&T Bank from $156.00 to $152.00 and set an overweight rating on the stock in a research report on Friday, January 19th. StockNews.com lowered M&T Bank from a hold rating to a sell rating in a research report on Wednesday, December 27th. Keefe, Bruyette & Woods upped their price target on M&T Bank from $155.00 to $162.00 and gave the stock a market perform rating in a report on Friday, April 5th. Finally, Royal Bank of Canada reiterated an outperform rating and set a $160.00 price target on shares of M&T Bank in a report on Tuesday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $158.48.

M&T Bank Price Performance

Shares of MTB opened at $139.30 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.94. M&T Bank has a 52-week low of $108.53 and a 52-week high of $148.23. The business’s 50 day moving average price is $139.76 and its two-hundred day moving average price is $132.81. The firm has a market cap of $23.21 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 1.26 and a beta of 0.80.

M&T Bank (NYSE:MTB) last issued its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share 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 firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period in the previous year, the company earned $4.09 earnings per share. On average, equities analysts anticipate that M&T Bank will post 13.93 EPS for the current year.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were paid a $1.30 dividend. The ex-dividend date was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a yield of 3.73%. M&T Bank’s dividend payout ratio (DPR) is presently 35.16%.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 6,367 shares in the company, valued at approximately $923,215. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Doris P. Meister sold 3,961 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $143.60, for a total transaction of $568,799.60. Following the transaction, the executive vice president now owns 5,000 shares of the company’s stock, valued at approximately $718,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the transaction, the director now directly owns 6,367 shares in the company, valued at approximately $923,215. The disclosure for this sale can be found here. Insiders sold 35,481 shares of company stock worth $5,114,624 in the last quarter. 0.82% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MTB. Raymond James & Associates lifted its position in shares of M&T Bank by 7.0% during the 1st quarter. Raymond James & Associates now owns 134,655 shares of the financial services provider’s stock valued at $2,692,000 after buying an additional 8,765 shares during the last quarter. American Century Companies Inc. lifted its position in shares of M&T Bank by 112.8% during the 1st quarter. American Century Companies Inc. now owns 82,957 shares of the financial services provider’s stock valued at $1,658,000 after buying an additional 43,979 shares during the last quarter. US Bancorp DE lifted its position in shares of M&T Bank by 9.4% during the 1st quarter. US Bancorp DE now owns 15,149 shares of the financial services provider’s stock valued at $303,000 after buying an additional 1,304 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of M&T Bank by 7.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 59,394 shares of the financial services provider’s stock valued at $1,187,000 after buying an additional 4,175 shares during the last quarter. Finally, AlphaCrest Capital Management LLC purchased a new stake in M&T Bank during the 1st quarter worth about $306,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

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.