JPMorgan Chase & Co. Boosts M&T Bank (NYSE:MTB) Price Target to $170.00

M&T Bank (NYSE:MTB) had its price objective boosted by JPMorgan Chase & Co. from $160.00 to $170.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Other equities analysts have also recently issued reports about the company. Barclays upped their price objective on M&T Bank from $150.00 to $170.00 and gave the stock an equal weight rating in a report on Tuesday, January 2nd. Deutsche Bank Aktiengesellschaft cut M&T Bank from a buy rating to a hold rating and set a $145.00 price objective for the company. in a report on Monday, December 18th. Evercore ISI upped their price objective on M&T Bank from $146.00 to $157.00 and gave the stock an in-line rating in a report on Thursday, March 28th. Royal Bank of Canada reiterated an outperform rating and issued a $160.00 price objective on shares of M&T Bank in a report on Friday, January 19th. Finally, StockNews.com lowered M&T Bank from a hold rating to a sell rating in a research note on Wednesday, December 27th. One equities research 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $152.21.

M&T Bank Price Performance

M&T Bank stock opened at $138.71 on Thursday. M&T Bank has a 52 week low of $108.53 and a 52 week high of $148.23. The business has a 50-day simple moving average of $139.26 and a 200 day simple moving average of $132.07. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.33. The stock has a market cap of $23.11 billion, a price-to-earnings ratio of 8.79, a PEG ratio of 1.22 and a beta of 0.80.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, January 18th. The financial services provider reported $2.74 EPS for the quarter, missing the consensus estimate of $3.10 by ($0.36). M&T Bank had a return on equity of 11.59% and a net margin of 21.49%. The business had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the previous year, the firm earned $4.57 earnings per share. On average, research analysts forecast that M&T Bank will post 13.88 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date was Friday, March 1st. M&T Bank’s payout ratio is 32.95%.

Insider Buying and Selling at M&T Bank

In other news, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $923,215. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $923,215. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Doris P. Meister sold 3,961 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $143.60, for a total value of $568,799.60. Following the completion of the transaction, the executive vice president now directly owns 5,000 shares of the company’s stock, valued at approximately $718,000. The disclosure for this sale can be found here. Insiders sold 35,481 shares of company stock valued at $5,114,624 in the last 90 days. Insiders own 0.82% of the company’s stock.

Institutional Trading of M&T Bank

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP purchased a new stake in shares of M&T Bank in the 3rd quarter worth approximately $833,000. Tokio Marine Asset Management Co. Ltd. boosted its stake in M&T Bank by 8.3% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,985 shares of the financial services provider’s stock valued at $504,000 after purchasing an additional 305 shares during the last quarter. NBC Securities Inc. purchased a new stake in M&T Bank during the 3rd quarter valued at $299,000. Metis Global Partners LLC boosted its stake in M&T Bank by 15.2% during the 3rd quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider’s stock valued at $893,000 after purchasing an additional 931 shares during the last quarter. Finally, AustralianSuper Pty Ltd boosted its stake in M&T Bank by 20.6% during the 4th quarter. AustralianSuper Pty Ltd now owns 340,661 shares of the financial services provider’s stock valued at $46,698,000 after purchasing an additional 58,130 shares during the last quarter. 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.