M&T Bank (NYSE:MTB) Given Market Perform Rating at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their market perform rating on shares of M&T Bank (NYSE:MTB) in a research report report published on Thursday, Benzinga reports. They currently have a $170.00 price target on the financial services provider’s stock.

A number of other equities analysts also recently commented on the company. Bank of America boosted their price objective on M&T Bank from $157.00 to $160.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. DA Davidson reissued a neutral rating and set a $159.00 price objective on shares of M&T Bank in a research report on Tuesday, April 16th. StockNews.com downgraded M&T Bank from a hold rating to a sell rating in a research report on Friday, May 3rd. Royal Bank of Canada reaffirmed an outperform rating and issued a $160.00 price target on shares of M&T Bank in a report on Tuesday, April 16th. Finally, Evercore ISI upped their price target on M&T Bank from $157.00 to $168.00 and gave the company an in-line rating in a report on Tuesday, June 25th. 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average price target of $161.51.

M&T Bank Stock Performance

NYSE MTB opened at $151.36 on Thursday. The company has a market cap of $25.25 billion, a P/E ratio of 10.23, a P/E/G ratio of 2.90 and a beta of 0.78. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a 50-day moving average of $148.32 and a two-hundred day moving average of $142.00. M&T Bank has a 1-year low of $108.53 and a 1-year high of $156.65.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data 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). M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period in the prior year, the firm posted $4.09 earnings per share. As a group, analysts anticipate that M&T Bank will post 13.99 EPS for the current year.

M&T Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were paid a $1.35 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 3.57%. This is a boost from M&T Bank’s previous quarterly dividend of $1.30. M&T Bank’s payout ratio is currently 36.51%.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Doris P. Meister sold 1,638 shares of the business’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 value of $226,387.98. Following the completion of the sale, the executive vice president now owns 3,362 shares in the company, valued at $464,662.02. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Christopher E. Kay sold 1,821 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $153.78, for a total transaction of $280,033.38. Following the completion of the sale, the executive vice president now owns 8,579 shares in the company, valued at $1,319,278.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Doris P. Meister sold 1,638 shares of the company’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 value of $226,387.98. Following the sale, the executive vice president now owns 3,362 shares of the company’s stock, valued at approximately $464,662.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 97,553 shares of company stock worth $14,724,147. 0.82% of the stock is owned by insiders.

Institutional Investors Weigh In On M&T Bank

Several large investors have recently modified their holdings of MTB. HHM Wealth Advisors LLC purchased a new stake in shares of M&T Bank during the fourth quarter worth approximately $25,000. General Partner Inc. purchased a new position in M&T Bank in the first quarter worth $27,000. Headinvest LLC purchased a new position in M&T Bank in the third quarter worth $29,000. Fidelis Capital Partners LLC purchased a new position in M&T Bank in the first quarter worth $30,000. Finally, BKM Wealth Management LLC purchased a new position in M&T Bank in the fourth quarter worth $32,000. Hedge funds and other 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.