Brokerages Set M&T Bank Co. (NYSE:MTB) PT at $185.75

M&T Bank Co. (NYSE:MTB) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $185.75.

Several research firms recently commented on MTB. Morgan Stanley raised their target price on M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Bank of America raised their price objective on M&T Bank from $160.00 to $188.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Keefe, Bruyette & Woods raised their price objective 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. DA Davidson raised their price objective on M&T Bank from $159.00 to $185.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Finally, Jefferies Financial Group raised their price objective 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.

Insider Buying and Selling

In related news, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the sale, the director now directly owns 44,902 shares in the company, valued at approximately $7,724,491.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other M&T Bank news, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total value of $1,720,300.00. Following the sale, the director now directly owns 44,902 shares in the company, valued at $7,724,491.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kirk W. Walters sold 7,464 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $173.97, for a total value of $1,298,512.08. Following the completion of the sale, the director now owns 15,045 shares in the company, valued at approximately $2,617,378.65. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,699 shares of company stock worth $5,115,349. 0.82% of the stock is owned by company insiders.

Institutional Trading of M&T Bank

Several hedge funds have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its position in shares of M&T Bank by 4.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock valued at $269,696,000 after purchasing an additional 81,004 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of M&T Bank by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock valued at $244,129,000 after purchasing an additional 93,113 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of M&T Bank by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 1,513,452 shares of the financial services provider’s stock valued at $229,076,000 after purchasing an additional 44,442 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of M&T Bank by 3.2% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,398,199 shares of the financial services provider’s stock valued at $211,631,000 after purchasing an additional 43,795 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its position in M&T Bank by 77.0% during the second quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock worth $110,993,000 after buying an additional 319,051 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Trading Up 3.4 %

NYSE MTB opened at $185.19 on Friday. The business has a 50 day simple moving average of $169.88 and a 200 day simple moving average of $157.20. M&T Bank has a one year low of $108.53 and a one year high of $185.98. The stock has a market capitalization of $30.90 billion, a P/E ratio of 12.52, a P/E/G ratio of 3.27 and a beta of 0.75. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 1.00.

M&T Bank (NYSE:MTB) last released its earnings results on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, topping the consensus estimate 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 business had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter last year, the firm posted $5.12 earnings per share. Research analysts expect that M&T Bank will post 14.16 earnings per share for the current year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a dividend of $1.35 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 2.92%. M&T Bank’s dividend payout ratio (DPR) is currently 36.51%.

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.