M&T Bank (NYSE:MTB) Given New $160.00 Price Target at Bank of America

M&T Bank (NYSE:MTB) had its price target boosted by Bank of America from $157.00 to $160.00 in a research note published on Tuesday, Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. upped their price target on M&T Bank from $160.00 to $170.00 and gave the stock a neutral rating in a research report on Thursday, April 4th. Jefferies Financial Group reduced their price target on M&T Bank from $154.00 to $151.00 and set a hold rating for the company in a research report on Monday, April 8th. UBS Group upped their price target on M&T Bank from $139.00 to $154.00 in a research report on Wednesday, January 17th. DA Davidson restated a neutral rating and issued a $159.00 price target on shares of M&T Bank in a research report on Wednesday, March 6th. Finally, Keefe, Bruyette & Woods upped their price target on M&T Bank from $155.00 to $162.00 and gave the stock a market perform rating in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, M&T Bank presently has a consensus rating of Hold and a consensus target price of $157.98.

M&T Bank Stock Down 2.5 %

M&T Bank stock opened at $137.37 on Tuesday. The stock has a market cap of $22.89 billion, a PE ratio of 8.71, a price-to-earnings-growth ratio of 1.24 and a beta of 0.80. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 0.99. M&T Bank has a one year low of $108.53 and a one year high of $148.23. The stock has a fifty day moving average of $139.44 and a 200 day moving average of $132.72.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 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 analysts’ expectations of $2.26 billion. M&T Bank had a net margin of 21.49% and a return on equity of 11.59%. During the same quarter last year, the company posted $4.09 EPS. As a group, sell-side analysts predict that M&T Bank will post 13.89 EPS for the current year.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank’s dividend payout ratio is presently 32.95%.

Insider Buying and Selling at M&T Bank

In other news, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the transaction, the director now owns 6,367 shares in the company, valued at approximately $923,215. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the transaction, the director now owns 6,367 shares in the company, valued at approximately $923,215. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Doris P. Meister sold 1,675 shares of M&T Bank stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $137.91, for a total value of $230,999.25. Following the completion of the transaction, the executive vice president now owns 8,961 shares of the company’s stock, valued at approximately $1,235,811.51. The disclosure for this sale can be found here. Insiders sold 35,481 shares of company stock worth $5,114,624 in the last quarter. 0.82% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On M&T Bank

A number of large investors have recently bought and sold shares of the business. Penserra Capital Management LLC boosted its holdings in M&T Bank by 7.8% during the 4th quarter. Penserra Capital Management LLC now owns 930 shares of the financial services provider’s stock valued at $134,000 after acquiring an additional 67 shares during the period. Carnegie Capital Asset Management LLC boosted its holdings in M&T Bank by 2.6% during the 3rd quarter. Carnegie Capital Asset Management LLC now owns 3,119 shares of the financial services provider’s stock valued at $394,000 after acquiring an additional 80 shares during the period. Burns J W & Co. Inc. NY boosted its holdings in M&T Bank by 1.3% during the 4th quarter. Burns J W & Co. Inc. NY now owns 6,034 shares of the financial services provider’s stock valued at $827,000 after acquiring an additional 80 shares during the period. First Horizon Advisors Inc. boosted its holdings in M&T Bank by 3.2% during the 4th quarter. First Horizon Advisors Inc. now owns 2,548 shares of the financial services provider’s stock valued at $349,000 after acquiring an additional 80 shares during the period. Finally, Fulton Bank N.A. boosted its holdings in M&T Bank by 2.3% during the 1st quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider’s stock valued at $526,000 after acquiring an additional 81 shares during the period. Hedge funds and other institutional investors 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.