M&T Bank (NYSE:MTB) had its target price trimmed by UBS Group from $176.00 to $172.00 in a report issued on Wednesday morning, Stock Target Advisor reports. The brokerage currently has a neutral rating on the financial services provider’s stock.
Other analysts have also recently issued research reports about the company. Barclays set a $24.00 price objective on Tenet Healthcare and gave the company a hold rating in a research report on Wednesday, April 17th. JPMorgan Chase & Co. reiterated a buy rating on shares of Gilead Sciences in a research report on Tuesday, July 2nd. Wedbush upped their price objective on Wintrust Financial from $79.00 to $80.00 and gave the company an outperform rating in a research report on Tuesday, April 16th. Zacks Investment Research cut First Merchants from a hold rating to a sell rating in a research report on Monday, July 1st. Finally, ValuEngine cut Wolverine World Wide from a hold rating to a sell rating in a research report on Monday, May 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. M&T Bank has a consensus rating of Hold and a consensus target price of $176.67.
Shares of NYSE:MTB opened at $174.07 on Wednesday. The company has a market capitalization of $23.78 billion, a P/E ratio of 12.42, a P/E/G ratio of 1.59 and a beta of 1.06. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.06 and a current ratio of 1.06. M&T Bank has a 1 year low of $133.78 and a 1 year high of $180.77. The firm’s fifty day simple moving average is $167.45.
M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.30 by $0.05. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.51 billion. M&T Bank had a return on equity of 14.46% and a net margin of 30.84%. During the same period in the prior year, the company posted $2.23 earnings per share. On average, sell-side analysts expect that M&T Bank will post 14.54 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date was Friday, May 31st. M&T Bank’s payout ratio is 31.10%.
In other M&T Bank news, insider Brian E. Hickey sold 4,000 shares of the company’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $168.53, for a total value of $674,120.00. Following the completion of the sale, the insider now owns 17,819 shares in the company, valued at $3,003,036.07. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Robert J. Bojdak sold 1,638 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $170.03, for a total value of $278,509.14. Following the completion of the sale, the insider now owns 20,199 shares of the company’s stock, valued at approximately $3,434,435.97. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,521 shares of company stock valued at $1,594,509. Company insiders own 0.54% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. First Hawaiian Bank grew its position in shares of M&T Bank by 111.7% during the first quarter. First Hawaiian Bank now owns 4,265 shares of the financial services provider’s stock worth $669,000 after purchasing an additional 2,250 shares in the last quarter. Domani Wealth LLC bought a new position in M&T Bank during the first quarter valued at approximately $217,000. Dupont Capital Management Corp boosted its stake in M&T Bank by 130.2% during the first quarter. Dupont Capital Management Corp now owns 4,080 shares of the financial services provider’s stock valued at $641,000 after buying an additional 2,308 shares during the last quarter. FSI Group LLC bought a new position in M&T Bank during the first quarter valued at approximately $3,947,000. Finally, National Asset Management Inc. boosted its stake in M&T Bank by 21.9% during the first quarter. National Asset Management Inc. now owns 2,503 shares of the financial services provider’s stock valued at $394,000 after buying an additional 450 shares during the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.
About M&T Bank
M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.
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