M&T Bank (NYSE:MTB) PT Raised to $188.00 at Bank of America

M&T Bank (NYSE:MTB) had its target price hoisted by Bank of America from $160.00 to $188.00 in a research note published on Monday morning, Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

A number of other equities research analysts have also weighed in on MTB. StockNews.com raised M&T Bank from a sell rating to a hold rating in a research note on Friday, July 19th. Keefe, Bruyette & Woods boosted their target price on M&T Bank from $170.00 to $180.00 and gave the company a market perform rating in a research note on Friday, July 19th. Wells Fargo & Company boosted their target price on M&T Bank from $145.00 to $150.00 and gave the company an equal weight rating in a research note on Tuesday, April 16th. Jefferies Financial Group boosted their target price on M&T Bank from $160.00 to $161.00 and gave the company a hold rating in a research note on Wednesday, July 3rd. Finally, DA Davidson upped their price target on M&T Bank from $159.00 to $185.00 and gave the company a neutral rating in a research report on Friday, July 19th. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and an average price target of $170.35.

M&T Bank Price Performance

MTB opened at $173.60 on Monday. The stock has a 50-day moving average price of $151.91 and a 200-day moving average price of $144.70. M&T Bank has a 12-month low of $108.53 and a 12-month high of $176.44. The company has a current ratio of 0.94, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $28.97 billion, a P/E ratio of 11.74, a PEG ratio of 4.44 and a beta of 0.77.

M&T Bank (NYSE:MTB) last released its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. The company had revenue of $3.37 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the previous year, the company posted $5.12 EPS. Equities analysts predict that M&T Bank will post 14.16 earnings per share for the current fiscal year.

M&T Bank Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were issued a dividend of $1.35 per share. This is an increase from M&T Bank’s previous quarterly dividend of $1.30. The ex-dividend date was Monday, June 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.11%. M&T Bank’s dividend payout ratio is 36.51%.

Insiders Place Their Bets

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total transaction of $86,250.00. Following the transaction, the insider now owns 16,429 shares in the company, valued at approximately $2,834,002.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Vice Chairman Gary N. Geisel sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total value of $86,250.00. Following the sale, the insider now owns 16,429 shares in the company, valued at approximately $2,834,002.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John P. Barnes sold 43,426 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $154.50, for a total value of $6,709,317.00. Following the completion of the sale, the director now owns 35,480 shares in the company, valued at approximately $5,481,660. The disclosure for this sale can be found here. In the last quarter, insiders have sold 87,415 shares of company stock worth $13,285,139. Company insiders own 0.82% of the company’s stock.

Institutional Trading of M&T Bank

Several hedge funds and other institutional investors have recently made changes to their positions in MTB. American Century Companies Inc. grew its stake in shares of M&T Bank by 14.4% in the 3rd quarter. American Century Companies Inc. now owns 43,060 shares of the financial services provider’s stock worth $5,445,000 after buying an additional 5,405 shares during the last quarter. Nordea Investment Management AB boosted its stake in M&T Bank by 3.3% during the 4th quarter. Nordea Investment Management AB now owns 12,407 shares of the financial services provider’s stock valued at $1,707,000 after purchasing an additional 396 shares during the last quarter. BKM Wealth Management LLC purchased a new stake in M&T Bank during the 4th quarter valued at $32,000. SG Americas Securities LLC boosted its stake in M&T Bank by 122.9% during the 4th quarter. SG Americas Securities LLC now owns 8,028 shares of the financial services provider’s stock valued at $1,100,000 after purchasing an additional 4,426 shares during the last quarter. Finally, Premier Path Wealth Partners LLC purchased a new stake in M&T Bank during the 4th quarter valued at $209,000. 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.