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

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

A number of other brokerages have also recently issued reports on MTB. DA Davidson reiterated a neutral rating and set a $159.00 price objective on shares of M&T Bank in a research note on Wednesday, March 6th. Evercore ISI lifted their price objective on M&T Bank from $146.00 to $157.00 and gave the company an in-line rating in a research note on Thursday, March 28th. Bank of America lifted their price objective on M&T Bank from $157.00 to $160.00 and gave the company a buy rating in a research note on Tuesday. Royal Bank of Canada reiterated an outperform rating and set a $160.00 price objective on shares of M&T Bank in a research note on Tuesday. Finally, Piper Sandler lowered their price objective on M&T Bank from $156.00 to $152.00 and set an overweight rating for the company in a research note on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $158.48.

M&T Bank Trading Up 0.2 %

MTB opened at $139.30 on Tuesday. The stock has a market cap of $23.21 billion, a PE ratio of 9.42, a PEG ratio of 1.26 and a beta of 0.80. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The business has a 50 day moving average of $139.76 and a 200-day moving average of $132.81. M&T Bank has a 52 week low of $108.53 and a 52 week high of $148.23.

M&T Bank (NYSE:MTB) last released its earnings results on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The firm had revenue of $2.26 billion during 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 quarter in the previous year, the business earned $4.09 EPS. Equities research analysts predict that M&T Bank will post 13.93 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were given a $1.30 dividend. 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 3.73%. M&T Bank’s dividend payout ratio is currently 35.16%.

Insider Buying and Selling

In related news, Director Kirk W. Walters sold 28,845 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 6,367 shares in the company, valued at $923,215. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was 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 in the company, valued at $923,215. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Doris P. Meister sold 3,961 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $143.60, for a total value of $568,799.60. Following the sale, the executive vice president now owns 5,000 shares in the company, valued at $718,000. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,481 shares of company stock worth $5,114,624. Corporate insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC grew its stake in shares of M&T Bank by 17,405.3% during the first quarter. Virtu Financial LLC now owns 5,273,474 shares of the financial services provider’s stock valued at $105,417,000 after buying an additional 5,243,349 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of M&T Bank by 113.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 313,302 shares of the financial services provider’s stock valued at $42,949,000 after buying an additional 2,645,478 shares during the last quarter. Spring Creek Capital LLC grew its stake in shares of M&T Bank by 217.0% during the first quarter. Spring Creek Capital LLC now owns 3,339,643 shares of the financial services provider’s stock valued at $66,759,000 after buying an additional 2,286,251 shares during the last quarter. Norges Bank bought a new position in shares of M&T Bank during the fourth quarter valued at approximately $232,322,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of M&T Bank by 76.1% during the first quarter. Goldman Sachs Group Inc. now owns 3,560,334 shares of the financial services provider’s stock valued at $71,171,000 after buying an additional 1,538,436 shares during the last quarter. 84.68% of the stock is currently 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.