Keefe, Bruyette & Woods Boosts M&T Bank (NYSE:MTB) Price Target to $162.00

M&T Bank (NYSE:MTB) had its price target raised by Keefe, Bruyette & Woods from $155.00 to $162.00 in a research note published on Friday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Several other equities research analysts also recently weighed in on MTB. Barclays increased their target price on shares of M&T Bank from $150.00 to $170.00 and gave the stock an equal weight rating in a research note on Tuesday, January 2nd. UBS Group raised their price objective on shares of M&T Bank from $139.00 to $154.00 in a research report on Wednesday, January 17th. JPMorgan Chase & Co. raised their price objective on shares of M&T Bank from $160.00 to $170.00 and gave the company a neutral rating in a research report on Thursday. Evercore ISI raised their price objective on shares of M&T Bank from $146.00 to $157.00 and gave the company an in-line rating in a research report on Thursday, March 28th. Finally, Morgan Stanley raised their price objective on shares of M&T Bank from $160.00 to $179.00 and gave the company an overweight rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, M&T Bank has an average rating of Hold and a consensus target price of $152.21.

M&T Bank Stock Performance

Shares of MTB stock opened at $138.71 on Friday. M&T Bank has a 1 year low of $108.53 and a 1 year high of $148.23. The firm has a market cap of $23.11 billion, a price-to-earnings ratio of 8.79, a PEG ratio of 1.23 and a beta of 0.80. The stock’s 50-day moving average is $139.26 and its two-hundred day moving average is $132.11. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 0.99.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, January 18th. The financial services provider reported $2.74 earnings per share 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 analyst estimates of $2.27 billion. During the same quarter last year, the company posted $4.57 EPS. Analysts predict that M&T Bank will post 13.81 earnings per share for the current year.

M&T Bank Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.75%. M&T Bank’s dividend payout ratio (DPR) is 32.95%.

Insider Transactions at M&T Bank

In other news, Director Kirk W. Walters sold 28,845 shares of the firm’s stock in a transaction that occurred on 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 directly owns 6,367 shares of the company’s stock, valued at approximately $923,215. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Kirk W. Walters sold 28,845 shares of the firm’s stock in a transaction that occurred on 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 directly owns 6,367 shares of the company’s stock, valued at approximately $923,215. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Doris P. Meister sold 3,961 shares of the firm’s stock in a transaction that occurred 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 directly owns 5,000 shares of the company’s stock, valued at $718,000. The disclosure for this sale can be found here. Insiders sold a total of 35,481 shares of company stock valued at $5,114,624 in the last ninety days. Corporate insiders own 0.82% of the company’s stock.

Institutional Trading of M&T Bank

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in M&T Bank by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 48,056,301 shares of the financial services provider’s stock worth $960,645,000 after acquiring an additional 595,930 shares during the period. BlackRock Inc. grew its stake in M&T Bank by 1.1% in the 1st quarter. BlackRock Inc. now owns 36,670,981 shares of the financial services provider’s stock worth $733,054,000 after acquiring an additional 402,530 shares during the period. State Street Corp grew its stake in M&T Bank by 0.7% in the 1st quarter. State Street Corp now owns 7,985,096 shares of the financial services provider’s stock worth $954,778,000 after acquiring an additional 55,623 shares during the period. JPMorgan Chase & Co. grew its stake in M&T Bank by 10.4% in the 1st quarter. JPMorgan Chase & Co. now owns 6,095,725 shares of the financial services provider’s stock worth $728,866,000 after acquiring an additional 571,869 shares during the period. Finally, Virtu Financial LLC grew its stake in M&T Bank by 17,405.3% in the 1st quarter. Virtu Financial LLC now owns 5,273,474 shares of the financial services provider’s stock worth $105,417,000 after acquiring an additional 5,243,349 shares during the period. 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.