M&T Bank (NYSE:MTB) PT Raised to $188.00 at Bank of America

M&T Bank (NYSE:MTB) had its price objective increased by Bank of America from $160.00 to $188.00 in a research note published on Monday, Benzinga reports. Bank of America currently has a buy rating on the financial services provider’s stock.

Several other analysts also recently weighed in on the stock. StockNews.com raised shares of M&T Bank from a sell rating to a hold rating in a research note on Friday, July 19th. DA Davidson lifted their price target on shares of M&T Bank from $159.00 to $185.00 and gave the company a neutral rating in a research note on Friday, July 19th. Citigroup lifted their price target on shares of M&T Bank from $180.00 to $195.00 and gave the company a buy rating in a research note on Friday, July 19th. Piper Sandler lifted their price target on shares of M&T Bank from $164.00 to $190.00 and gave the company an overweight rating in a research note on Monday. Finally, Evercore ISI lifted their price target on shares of M&T Bank from $157.00 to $168.00 and gave the company an in-line rating in a research note on Tuesday, June 25th. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $170.35.

M&T Bank Stock Up 1.1 %

Shares of NYSE MTB opened at $173.60 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.94 and a quick ratio of 1.00. The company has a market cap of $28.97 billion, a P/E ratio of 11.74, a PEG ratio of 4.44 and a beta of 0.77. M&T Bank has a 1 year low of $108.53 and a 1 year high of $176.44. The firm has a 50-day simple moving average of $151.91 and a two-hundred day simple moving average of $144.70.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.50 by $0.23. The business had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $2.27 billion. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. During the same quarter last year, the firm earned $5.12 earnings per share. Research analysts anticipate that M&T Bank will post 14.16 earnings per share for the current year.

M&T Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were issued a $1.35 dividend. 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 yield of 3.11%. The ex-dividend date was Monday, June 3rd. M&T Bank’s payout ratio is currently 36.51%.

Insiders Place Their Bets

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 500 shares of M&T Bank stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total value of $86,250.00. Following the transaction, the insider now directly owns 16,429 shares of the company’s stock, valued at $2,834,002.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director John P. Barnes sold 13,360 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $147.00, for a total transaction of $1,963,920.00. Following the sale, the director now directly owns 35,480 shares of the company’s stock, valued at $5,215,560. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Gary N. Geisel sold 500 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total transaction of $86,250.00. Following the sale, the insider now directly owns 16,429 shares in the company, valued at $2,834,002.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 87,415 shares of company stock valued at $13,285,139. 0.82% of the stock is currently owned by insiders.

Institutional Investors Weigh In On M&T Bank

A number of large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its holdings in shares of M&T Bank by 3.0% during 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 buying an additional 44,442 shares during the last quarter. Bryant Woods Investment Advisors LLC grew its holdings in shares of M&T Bank by 72.7% during the second quarter. Bryant Woods Investment Advisors LLC now owns 5,979 shares of the financial services provider’s stock valued at $905,000 after buying an additional 2,516 shares during the last quarter. Sterling Investment Counsel LLC grew its holdings in shares of M&T Bank by 370.1% during the second quarter. Sterling Investment Counsel LLC now owns 7,489 shares of the financial services provider’s stock valued at $1,134,000 after buying an additional 5,896 shares during the last quarter. Retirement Systems of Alabama grew its holdings in shares of M&T Bank by 0.4% during the second quarter. Retirement Systems of Alabama now owns 36,806 shares of the financial services provider’s stock valued at $5,571,000 after buying an additional 134 shares during the last quarter. Finally, Catalina Capital Group LLC boosted its holdings in M&T Bank by 14.8% in the second quarter. Catalina Capital Group LLC now owns 2,875 shares of the financial services provider’s stock valued at $435,000 after purchasing an additional 370 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

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.