UBS Group Trims M&T Bank (NYSE:MTB) Target Price to $172.00

M&T Bank (NYSE:MTB) had its price target decreased by UBS Group from $176.00 to $172.00 in a research report released on Wednesday, Stock Target Advisor reports. UBS Group currently has a neutral rating on the financial services provider’s stock.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. restated a buy rating on shares of Gilead Sciences in a report on Tuesday, July 2nd. Zacks Investment Research downgraded First Merchants from a hold rating to a sell rating in a report on Monday, July 1st. Barclays set a $24.00 price objective on Tenet Healthcare and gave the stock a hold rating in a report on Wednesday, April 17th. Wedbush raised their price objective on Wintrust Financial from $79.00 to $80.00 and gave the stock an outperform rating in a report on Tuesday, April 16th. Finally, ValuEngine downgraded Wolverine World Wide from a hold rating to a sell rating in a report on Monday, May 20th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. The company has an average rating of Hold and an average price target of $176.67.

MTB opened at $174.07 on Wednesday. The business’s fifty day moving average price is $167.45. The stock has a market cap of $23.78 billion, a P/E ratio of 12.42, a P/E/G ratio of 1.59 and a beta of 1.06. M&T Bank has a 52 week low of $133.78 and a 52 week high of $180.77. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.06 and a quick ratio of 1.06.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.35 EPS for the quarter, topping the consensus estimate of $3.30 by $0.05. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.51 billion. M&T Bank had a return on equity of 14.46% and a net margin of 30.84%. During the same period last year, the business posted $2.23 EPS. Equities analysts anticipate that M&T Bank will post 14.54 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were issued a $1.00 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.30%. M&T Bank’s dividend payout ratio is presently 31.10%.

In other news, insider William J. Farrell II sold 1,476 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $169.43, for a total value of $250,078.68. Following the completion of the sale, the insider now owns 13,844 shares of the company’s stock, valued at approximately $2,345,588.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian E. Hickey sold 4,000 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $168.53, for a total value of $674,120.00. Following the completion of the sale, the insider now directly owns 17,819 shares of the company’s stock, valued at approximately $3,003,036.07. The disclosure for this sale can be found here. Insiders sold a total of 9,521 shares of company stock worth $1,594,509 over the last quarter. Company insiders own 0.54% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. NN Investment Partners Holdings N.V. acquired a new stake in shares of M&T Bank in the 2nd quarter worth $2,062,000. Xact Kapitalforvaltning AB boosted its position in shares of M&T Bank by 4.9% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 23,094 shares of the financial services provider’s stock worth $3,928,000 after purchasing an additional 1,081 shares in the last quarter. Webster Bank N. A. acquired a new stake in shares of M&T Bank in the 2nd quarter worth $43,000. Orrstown Financial Services Inc. boosted its position in shares of M&T Bank by 15.7% in the 2nd quarter. Orrstown Financial Services Inc. now owns 1,092 shares of the financial services provider’s stock worth $186,000 after purchasing an additional 148 shares in the last quarter. Finally, McCollum Christoferson Group LLC acquired a new stake in shares of M&T Bank in the 2nd quarter worth $208,000. 81.52% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Company Profile

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.

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Analyst Recommendations for M&T Bank (NYSE:MTB)

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