M&T Bank (NYSE:MTB) PT Raised to $168.00 at Evercore ISI

M&T Bank (NYSE:MTB) had its price target hoisted by Evercore ISI from $157.00 to $168.00 in a report published on Tuesday, Benzinga reports. They currently have an in-line rating on the financial services provider’s stock.

Several other equities research analysts also recently 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, April 16th. Jefferies Financial Group lifted their price target on M&T Bank from $151.00 to $160.00 and gave the company a hold rating in a research note on Tuesday, June 4th. Bank of America raised their price objective on shares of M&T Bank from $157.00 to $160.00 and gave the company a buy rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. lifted their target price on shares of M&T Bank from $170.00 to $180.00 and gave the stock a neutral rating in a research report on Tuesday, April 16th. Finally, DA Davidson restated a neutral rating and issued a $159.00 price target on shares of M&T Bank in a research report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, M&T Bank currently has a consensus rating of Hold and an average target price of $161.51.

M&T Bank Stock Performance

M&T Bank stock opened at $147.67 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.46. The stock has a market cap of $24.64 billion, a PE ratio of 9.98, a P/E/G ratio of 2.90 and a beta of 0.78. M&T Bank has a 12-month low of $108.53 and a 12-month high of $156.65. The business’s 50-day moving average price is $148.00 and its two-hundred day moving average price is $141.76.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11). The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate 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 posted $4.09 earnings per share. As a group, analysts expect that M&T Bank will post 13.99 earnings per share for the current fiscal year.

M&T Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be issued a dividend of $1.35 per share. This is an increase from M&T Bank’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend is Monday, June 3rd. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

Insider Transactions at M&T Bank

In related news, EVP Doris P. Meister sold 1,638 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total transaction of $226,387.98. Following the completion of the sale, the executive vice president now owns 3,362 shares of the company’s stock, valued at $464,662.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Christopher E. Kay sold 1,821 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $153.78, for a total transaction of $280,033.38. Following the transaction, the executive vice president now owns 8,579 shares in the company, valued at approximately $1,319,278.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Doris P. Meister sold 1,638 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total transaction of $226,387.98. Following the completion of the sale, the executive vice president now owns 3,362 shares of the company’s stock, valued at $464,662.02. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,553 shares of company stock valued at $14,724,147. Corporate insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

A number of institutional investors and hedge funds have recently made changes to their positions in MTB. HHM Wealth Advisors LLC acquired a new position in M&T Bank during the 4th quarter worth approximately $25,000. General Partner Inc. acquired a new position in shares of M&T Bank during the first quarter worth approximately $27,000. Fidelis Capital Partners LLC bought a new position in shares of M&T Bank in the 1st quarter worth $30,000. BKM Wealth Management LLC bought a new position in shares of M&T Bank in the 4th quarter worth $32,000. Finally, Headinvest LLC acquired a new stake in M&T Bank in the 3rd quarter valued at $29,000. Institutional investors 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.