Brokerages Set M&T Bank Co. (NYSE:MTB) Price Target at $175.85

Shares of M&T Bank Co. (NYSE:MTB) have earned a consensus rating of “Hold” from the fifteen research firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $175.85.

MTB has been the subject of a number of analyst reports. Bank of America boosted their price target on M&T Bank from $160.00 to $188.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Keefe, Bruyette & Woods increased their price target on M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a report on Friday, July 19th. JPMorgan Chase & Co. raised shares of M&T Bank from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $183.00 to $215.00 in a report on Tuesday, September 3rd. Royal Bank of Canada lifted their target price on shares of M&T Bank from $160.00 to $174.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Finally, Wells Fargo & Company cut shares of M&T Bank from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $170.00 to $165.00 in a report on Thursday, August 15th.

M&T Bank Stock Performance

Shares of NYSE MTB opened at $179.56 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 1.00. M&T Bank has a one year low of $108.53 and a one year high of $180.25. The business’s 50-day moving average price is $167.47 and its two-hundred day moving average price is $153.59. The company has a market capitalization of $29.96 billion, a P/E ratio of 12.14, a price-to-earnings-growth ratio of 3.32 and a beta of 0.76.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, topping the consensus estimate of $3.50 by $0.23. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. The company had revenue of $3.37 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the prior year, the business posted $5.12 EPS. Analysts anticipate that M&T Bank will post 14.24 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 3.01%. M&T Bank’s dividend payout ratio is currently 36.51%.

Insider Buying and Selling at M&T Bank

In other news, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the sale, the director now directly owns 44,902 shares in the company, valued at approximately $7,724,491.06. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other M&T Bank news, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the sale, the director now directly owns 44,902 shares of the company’s stock, valued at $7,724,491.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total value of $172,230.00. Following the completion of the transaction, the director now directly owns 31,796 shares of the company’s stock, valued at $5,476,225.08. The disclosure for this sale can be found here. Insiders have sold 32,699 shares of company stock valued at $5,115,349 in the last 90 days. 0.82% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On M&T Bank

Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank bought a new position in M&T Bank during the 4th quarter valued at about $232,322,000. Marshall Wace LLP boosted its holdings in shares of M&T Bank by 232.1% in the 2nd quarter. Marshall Wace LLP now owns 676,745 shares of the financial services provider’s stock worth $102,432,000 after acquiring an additional 472,997 shares in the last quarter. Los Angeles Capital Management LLC grew its position in M&T Bank by 77.0% during the 2nd quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock worth $110,993,000 after acquiring an additional 319,051 shares during the last quarter. Bank of Nova Scotia increased its holdings in M&T Bank by 1,155.9% during the 4th quarter. Bank of Nova Scotia now owns 205,392 shares of the financial services provider’s stock valued at $28,154,000 after purchasing an additional 189,038 shares in the last quarter. Finally, BNP Paribas Asset Management Holding S.A. raised its position in M&T Bank by 643.3% in the 4th quarter. BNP Paribas Asset Management Holding S.A. now owns 165,883 shares of the financial services provider’s stock valued at $22,739,000 after purchasing an additional 143,565 shares during the last quarter. Institutional investors and hedge funds 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.