M&T Bank (NYSE:MTB) Price Target Raised to $183.00 at JPMorgan Chase & Co.

M&T Bank (NYSE:MTB) had its price target lifted by JPMorgan Chase & Co. from $180.00 to $183.00 in a report issued on Tuesday, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Other research analysts also recently issued research reports about the stock. Royal Bank of Canada increased their price objective on shares of M&T Bank from $160.00 to $174.00 and gave the company an outperform rating in a research report on Friday, July 19th. Bank of America increased their price objective on shares of M&T Bank from $160.00 to $188.00 and gave the company a buy rating in a research report on Monday. Jefferies Financial Group lifted their price target on shares of M&T Bank from $160.00 to $161.00 and gave the stock a hold rating in a research note on Wednesday, July 3rd. Wedbush reiterated an outperform rating and set a $170.00 price target on shares of M&T Bank in a research note on Wednesday, April 10th. Finally, StockNews.com upgraded shares of M&T Bank from a sell rating to a hold rating in a research note on Friday, July 19th. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $170.35.

M&T Bank Stock Up 0.1 %

MTB traded up $0.10 during midday trading on Tuesday, reaching $172.27. The company’s stock had a trading volume of 694,757 shares, compared to its average volume of 1,043,666. The firm has a market capitalization of $28.74 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 4.42 and a beta of 0.77. The company has a current ratio of 0.94, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. M&T Bank has a 1 year low of $108.53 and a 1 year high of $175.00. The stock’s 50-day moving average is $151.17 and its 200-day moving average is $144.31.

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 for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. The business had revenue of $3.37 billion for the quarter, compared to analysts’ expectations 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 in the prior year, the company earned $5.12 earnings per share. As a group, research analysts expect that M&T Bank will post 14.12 EPS for the current year.

M&T Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.13%. This is a boost from M&T Bank’s previous quarterly dividend of $1.30. The ex-dividend date was Monday, June 3rd. M&T Bank’s payout ratio is 36.51%.

Insider Buying and Selling at M&T Bank

In other news, Director John P. Barnes sold 43,426 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $154.50, for a total value of $6,709,317.00. Following the completion of the sale, the director now owns 35,480 shares of the company’s stock, valued at approximately $5,481,660. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other M&T Bank news, Director John P. Barnes sold 43,426 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $154.50, for a total transaction of $6,709,317.00. Following the transaction, the director now owns 35,480 shares in the company, valued at approximately $5,481,660. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John P. Barnes sold 10,000 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $147.11, for a total transaction of $1,471,100.00. Following the completion of the sale, the director now directly owns 34,545 shares in the company, valued at $5,081,914.95. The disclosure for this sale can be found here. Insiders sold a total of 95,915 shares of company stock valued at $14,497,759 in the last three months. Company insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MTB. American Century Companies Inc. lifted its holdings in M&T Bank by 14.4% during the third quarter. American Century Companies Inc. now owns 43,060 shares of the financial services provider’s stock valued at $5,445,000 after purchasing an additional 5,405 shares in the last quarter. Nordea Investment Management AB increased its position in shares of M&T Bank by 3.3% during the fourth quarter. Nordea Investment Management AB now owns 12,407 shares of the financial services provider’s stock valued at $1,707,000 after acquiring an additional 396 shares during the last quarter. BKM Wealth Management LLC acquired a new stake in shares of M&T Bank during the fourth quarter valued at about $32,000. SG Americas Securities LLC increased its position in shares of M&T Bank by 122.9% during the fourth quarter. SG Americas Securities LLC now owns 8,028 shares of the financial services provider’s stock valued at $1,100,000 after acquiring an additional 4,426 shares during the last quarter. Finally, CVA Family Office LLC purchased a new position in shares of M&T Bank in the fourth quarter valued at approximately $33,000. 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.