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

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

Several research analysts have recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $160.00 price target on shares of M&T Bank in a report on Tuesday, April 16th. Morgan Stanley upped their price target on shares of M&T Bank from $160.00 to $179.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. JPMorgan Chase & Co. upped their price target on shares of M&T Bank from $170.00 to $180.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. UBS Group upped their price target on shares of M&T Bank from $139.00 to $154.00 in a report on Wednesday, January 17th. Finally, Wells Fargo & Company upped their price target on shares of M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a report on Tuesday, April 16th.

Insiders Place Their Bets

In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were 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 of the company’s stock, valued at $923,215. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the transaction, the director now directly owns 6,367 shares in the company, valued at $923,215. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction, the executive vice president now owns 7,274 shares in the company, valued at $962,350.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,119 shares of company stock valued at $5,341,012. 0.82% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On M&T Bank

Several institutional investors and hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP acquired a new position in shares of M&T Bank in the third quarter valued at about $833,000. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of M&T Bank by 8.3% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,985 shares of the financial services provider’s stock valued at $504,000 after acquiring an additional 305 shares in the last quarter. NBC Securities Inc. acquired a new position in shares of M&T Bank in the third quarter valued at about $299,000. Metis Global Partners LLC grew its stake in shares of M&T Bank by 15.2% in the third quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider’s stock valued at $893,000 after acquiring an additional 931 shares in the last quarter. Finally, Matrix Asset Advisors Inc. NY grew its stake in shares of M&T Bank by 15.7% in the fourth quarter. Matrix Asset Advisors Inc. NY now owns 92,537 shares of the financial services provider’s stock valued at $12,685,000 after acquiring an additional 12,590 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Stock Up 2.9 %

Shares of NYSE MTB opened at $143.38 on Friday. The stock has a market cap of $23.89 billion, a P/E ratio of 9.69, a P/E/G ratio of 1.20 and a beta of 0.80. The firm has a 50 day moving average price of $139.96 and a 200 day moving average price of $133.12. 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.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates 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 prior year, the firm posted $4.09 EPS. Analysts expect that M&T Bank will post 13.98 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.63%. The ex-dividend date was Friday, March 1st. M&T Bank’s dividend payout ratio (DPR) is currently 35.16%.

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.