M&T Bank (NYSE:MTB) Price Target Raised to $170.00 at Keefe, Bruyette & Woods

M&T Bank (NYSE:MTB) had its target price raised by Keefe, Bruyette & Woods from $162.00 to $170.00 in a research report released on Tuesday morning, Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

A number of other equities research analysts have also weighed in on MTB. Royal Bank of Canada reissued an outperform rating and set a $160.00 price objective on shares of M&T Bank in a report on Tuesday. Deutsche Bank Aktiengesellschaft lowered shares of M&T Bank from a buy rating to a hold rating and set a $145.00 price target on the stock. in a report on Monday, December 18th. Piper Sandler lowered their price target on shares of M&T Bank from $156.00 to $152.00 and set an overweight rating on the stock in a report on Friday, January 19th. Wedbush reaffirmed an outperform rating and issued a $170.00 price target on shares of M&T Bank in a report on Wednesday, April 10th. Finally, StockNews.com lowered shares of M&T Bank from a hold rating to a sell rating in a report on Wednesday, December 27th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently 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 firm has a market capitalization 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. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99. M&T Bank has a 1-year low of $108.53 and a 1-year high of $148.23. The company’s fifty day moving average price is $139.76 and its 200-day moving average price is $132.81.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data 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). The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same period last year, the firm earned $4.09 earnings per share. On average, equities research analysts predict that M&T Bank will post 13.93 EPS for the current year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank’s payout ratio is currently 35.16%.

Insider Transactions at M&T Bank

In other news, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the sale, the director now directly owns 6,367 shares of the company’s stock, valued at approximately $923,215. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Doris P. Meister sold 1,675 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $137.91, for a total transaction of $230,999.25. Following the transaction, the executive vice president now owns 8,961 shares of the company’s stock, valued at approximately $1,235,811.51. The disclosure for this sale can be found here. Insiders have sold a total of 35,481 shares of company stock valued at $5,114,624 in the last ninety days. 0.82% of the stock is currently owned by corporate insiders.

Institutional Trading of M&T Bank

A number of hedge funds have recently bought and sold shares of the business. Penserra Capital Management LLC increased its holdings in shares of M&T Bank by 7.8% during the 4th quarter. Penserra Capital Management LLC now owns 930 shares of the financial services provider’s stock worth $134,000 after buying an additional 67 shares during the last quarter. Carnegie Capital Asset Management LLC boosted 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 purchasing an additional 80 shares during the period. Burns J W & Co. Inc. NY boosted its position in shares of M&T Bank by 1.3% during 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 purchasing an additional 80 shares during the period. First Horizon Advisors Inc. boosted its position in shares of M&T Bank by 3.2% during the 4th quarter. First Horizon Advisors Inc. now owns 2,548 shares of the financial services provider’s stock worth $349,000 after purchasing an additional 80 shares during the period. Finally, Fulton Bank N.A. boosted its position in shares of M&T Bank by 2.3% during the 1st quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider’s stock worth $526,000 after purchasing an additional 81 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Company Profile

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.