M&T Bank (NYSE:MTB) Price Target Raised to $161.00 at Jefferies Financial Group

M&T Bank (NYSE:MTB) had its price target lifted by Jefferies Financial Group from $160.00 to $161.00 in a report published on Wednesday morning, Benzinga reports. Jefferies Financial Group currently has a hold rating on the financial services provider’s stock.

A number of other brokerages have also commented on MTB. DA Davidson restated a neutral rating and set a $159.00 price objective on shares of M&T Bank in a report on Tuesday, April 16th. JPMorgan Chase & Co. boosted their price target on M&T Bank from $170.00 to $180.00 and gave the company a neutral rating in a report on Tuesday, April 16th. Keefe, Bruyette & Woods reaffirmed a market perform rating and set a $170.00 price objective on shares of M&T Bank in a research report on Thursday, June 27th. Wedbush reissued an outperform rating and issued a $170.00 target price on shares of M&T Bank in a research report on Wednesday, April 10th. Finally, Piper Sandler reaffirmed an overweight rating and set a $164.00 price target on shares of M&T Bank in a research report on Friday, June 21st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $161.58.

M&T Bank Stock Performance

Shares of M&T Bank stock opened at $149.22 on Wednesday. M&T Bank has a 12 month low of $108.53 and a 12 month high of $156.65. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $24.90 billion, a PE ratio of 10.09, a PEG ratio of 2.97 and a beta of 0.77. The stock’s fifty day simple moving average is $148.50 and its 200 day simple moving average is $142.12.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.13 by ($0.11). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter last year, the firm earned $4.09 EPS. On average, research analysts predict that M&T Bank will post 13.99 EPS for the current year.

M&T Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were paid a dividend of $1.35 per share. The ex-dividend date was Monday, June 3rd. This is a positive change from M&T Bank’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 3.62%. M&T Bank’s payout ratio is currently 36.51%.

Insider Activity at M&T Bank

In other M&T Bank news, EVP Doris P. Meister sold 1,638 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total transaction of $226,387.98. Following the transaction, the executive vice president now owns 3,362 shares of the company’s stock, valued at $464,662.02. The sale was disclosed in a document filed with the SEC, which is available through this link. In other M&T Bank news, EVP Doris P. Meister sold 1,638 shares of M&T Bank stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $138.21, for a total transaction of $226,387.98. Following the completion of the transaction, the executive vice president now directly owns 3,362 shares of the company’s stock, valued at $464,662.02. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John P. Barnes sold 10,000 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $147.11, for a total transaction of $1,471,100.00. Following the sale, the director now owns 34,545 shares of the company’s stock, valued at approximately $5,081,914.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,553 shares of company stock worth $14,724,147. Insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

Several institutional investors and hedge funds have recently made changes to their positions in MTB. HHM Wealth Advisors LLC bought a new stake in M&T Bank in the 4th quarter valued at $25,000. General Partner Inc. acquired a new position in shares of M&T Bank in the first quarter valued at about $27,000. Headinvest LLC bought a new position in M&T Bank during the third quarter worth about $29,000. Fidelis Capital Partners LLC bought a new position in M&T Bank during the first quarter worth about $30,000. Finally, BKM Wealth Management LLC bought a new stake in M&T Bank in the 4th quarter valued at about $32,000. Institutional investors and hedge funds 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.