Brokerages Set M&T Bank Co. (NYSE:MTB) Price Target at $158.48

M&T Bank Co. (NYSE:MTB) has been assigned an average rating of “Hold” from the fourteen brokerages that are covering the firm, MarketBeat reports. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $158.48.

Several research analysts recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Wells Fargo & Company lifted their price target on shares of M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 16th. Barclays raised their price objective on shares of M&T Bank from $150.00 to $170.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Piper Sandler dropped their target price on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a research report on Friday, January 19th. Finally, UBS Group raised their price target on M&T Bank from $139.00 to $154.00 in a research report on Wednesday, January 17th.

M&T Bank Stock Performance

Shares of NYSE MTB opened at $146.83 on Friday. The business’s 50-day simple moving average is $140.42 and its 200-day simple moving average is $133.43. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.94. M&T Bank has a 52 week low of $108.53 and a 52 week high of $148.23. The firm has a market cap of $24.46 billion, a price-to-earnings ratio of 9.93, a P/E/G ratio of 1.19 and a beta of 0.80.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The company had revenue of $2.26 billion during 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 company earned $4.09 earnings per share. As a group, equities research analysts expect that M&T Bank will post 13.98 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were given 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 3.54%. M&T Bank’s dividend payout ratio (DPR) is presently 35.16%.

Insider Transactions at M&T Bank

In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $132.30, for a total value of $132,300.00. Following the completion of the sale, the executive vice president now owns 7,274 shares of the company’s stock, valued at $962,350.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Doris P. Meister sold 1,000 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $132.30, for a total transaction of $132,300.00. Following the completion of the sale, the executive vice president now directly owns 7,274 shares in the company, valued at approximately $962,350.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Doris P. Meister sold 1,638 shares of the 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 of the company’s stock, valued at approximately $464,662.02. The disclosure for this sale can be found here. Insiders have sold 37,119 shares of company stock valued at $5,341,012 in the last quarter. 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 bought and sold shares of MTB. HHM Wealth Advisors LLC bought a new position in shares of M&T Bank during the fourth quarter valued at $25,000. RVW Wealth LLC purchased a new position in M&T Bank in the third quarter worth about $27,000. General Partner Inc. bought a new position in shares of M&T Bank in the first quarter worth approximately $27,000. Headinvest LLC purchased a new stake in shares of M&T Bank during the third quarter valued at approximately $29,000. Finally, BKM Wealth Management LLC purchased a new stake in shares of M&T Bank during the fourth quarter valued at approximately $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.