Evercore ISI Boosts M&T Bank (NYSE:MTB) Price Target to $157.00

M&T Bank (NYSE:MTBFree Report) had its target price lifted by Evercore ISI from $146.00 to $157.00 in a research report report published on Thursday, Benzinga reports. The firm currently has an in-line rating on the financial services provider’s stock.

Other equities analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft lowered shares of M&T Bank from a buy rating to a hold rating and set a $145.00 price objective for the company. in a research report on Monday, December 18th. StockNews.com lowered shares of M&T Bank from a hold rating to a sell rating in a research report on Wednesday, December 27th. UBS Group raised their price objective on shares of M&T Bank from $139.00 to $154.00 in a research report on Wednesday, January 17th. Royal Bank of Canada restated an outperform rating and set a $160.00 price objective on shares of M&T Bank in a research report on Friday, January 19th. Finally, Piper Sandler reduced their price objective 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, M&T Bank presently has an average rating of Hold and an average price target of $150.17.

Read Our Latest Stock Report on M&T Bank

M&T Bank Stock Performance

Shares of MTB opened at $145.44 on Thursday. The firm has a 50-day moving average price of $139.46 and a 200 day moving average price of $131.62. The firm has a market capitalization of $24.23 billion, a PE ratio of 9.22, a P/E/G ratio of 1.29 and a beta of 0.79. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.33. M&T Bank has a 52-week low of $108.53 and a 52-week high of $148.23.

M&T Bank (NYSE:MTBGet Free Report) last announced its earnings results on Thursday, January 18th. The financial services provider reported $2.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.36). The company had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $2.27 billion. M&T Bank had a net margin of 21.49% and a return on equity of 11.59%. During the same quarter in the prior year, the company earned $4.57 EPS. On average, sell-side analysts anticipate that M&T Bank will post 13.88 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank’s dividend payout ratio (DPR) is presently 32.95%.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction that occurred 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 completion of the sale, the director now directly owns 6,367 shares in the company, valued at $923,215. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Doris P. Meister sold 3,961 shares of M&T Bank stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $143.60, for a total value of $568,799.60. Following the transaction, the executive vice president now owns 5,000 shares of the company’s stock, valued at $718,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 6,367 shares in the company, valued at approximately $923,215. The disclosure for this sale can be found here. Insiders sold 35,481 shares of company stock worth $5,114,624 over the last ninety days. 0.82% of the stock is currently owned by insiders.

Hedge Funds Weigh In On M&T Bank

A number of institutional investors have recently modified their holdings of the company. Penserra Capital Management LLC raised its position in shares of M&T Bank by 7.8% in the fourth quarter. Penserra Capital Management LLC now owns 930 shares of the financial services provider’s stock valued at $134,000 after purchasing an additional 67 shares during the period. Carnegie Capital Asset Management LLC raised its position in shares of M&T Bank by 2.6% in the third quarter. Carnegie Capital Asset Management LLC now owns 3,119 shares of the financial services provider’s stock valued at $394,000 after purchasing an additional 80 shares during the period. Burns J W & Co. Inc. NY increased its position in M&T Bank by 1.3% during the fourth quarter. Burns J W & Co. Inc. NY now owns 6,034 shares of the financial services provider’s stock worth $827,000 after acquiring an additional 80 shares during the period. First Horizon Advisors Inc. increased its position in M&T Bank by 3.2% during the fourth quarter. First Horizon Advisors Inc. now owns 2,548 shares of the financial services provider’s stock worth $349,000 after acquiring an additional 80 shares during the period. Finally, Robinson Value Management Ltd. increased its position in M&T Bank by 0.3% during the third quarter. Robinson Value Management Ltd. now owns 33,542 shares of the financial services provider’s stock worth $4,241,000 after acquiring an additional 85 shares during the period. Institutional investors own 84.68% of the company’s stock.

M&T Bank Company Profile

(Get Free Report)

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.

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Analyst Recommendations for M&T Bank (NYSE:MTB)

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