M&T Bank (NYSE:MTB) Raised to “Outperform” at Evercore ISI

Evercore ISI upgraded shares of M&T Bank (NYSE:MTB) from an in-line rating to an outperform rating in a report published on Wednesday, MarketBeat.com reports. Evercore ISI currently has $210.00 price target on the financial services provider’s stock, up from their previous price target of $187.00.

MTB has been the subject of several other reports. StockNews.com lowered shares of M&T Bank from a hold rating to a sell rating in a research report on Tuesday, September 24th. Morgan Stanley increased their price target on M&T Bank from $195.00 to $220.00 and gave the company an overweight rating in a report on Monday, August 5th. JPMorgan Chase & Co. upgraded M&T Bank from a neutral rating to an overweight rating and boosted their price objective for the stock from $183.00 to $215.00 in a research note on Tuesday, September 3rd. Bank of America increased their target price 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. Finally, DA Davidson boosted their price target on M&T Bank from $159.00 to $185.00 and gave the stock a neutral rating in a research report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus target price of $185.75.

M&T Bank Trading Up 3.7 %

Shares of MTB opened at $178.74 on Wednesday. M&T Bank has a twelve month low of $108.53 and a twelve month high of $180.63. The firm has a market capitalization of $29.82 billion, a P/E ratio of 12.09, a price-to-earnings-growth ratio of 3.55 and a beta of 0.75. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. The stock’s fifty day simple moving average is $168.84 and its 200 day simple moving average is $155.72.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. The company had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $2.27 billion. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. During the same period last year, the business posted $5.12 EPS. On average, equities research analysts forecast that M&T Bank will post 14.23 earnings per share for the current year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.02%. M&T Bank’s payout ratio is 36.51%.

Insider Buying and Selling

In related news, Director Denis J. Salamone sold 10,000 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $7,724,491.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Denis J. Salamone sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the sale, the director now owns 44,902 shares in the company, valued at $7,724,491.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kirk W. Walters sold 7,464 shares of M&T Bank stock in a transaction that occurred 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 transaction, the director now owns 15,045 shares of the company’s stock, 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 sold 32,699 shares of company stock worth $5,115,349. Corporate insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

A number of hedge funds have recently added to or reduced their stakes in MTB. General Partner Inc. bought a new stake in M&T Bank in the 1st quarter valued at about $27,000. Fidelis Capital Partners LLC bought a new stake in shares of M&T Bank during the first quarter valued at approximately $30,000. Oakworth Capital Inc. acquired a new position in shares of M&T Bank during the second quarter worth approximately $35,000. Versant Capital Management Inc grew its holdings in M&T Bank by 82.7% in the 2nd quarter. Versant Capital Management Inc now owns 444 shares of the financial services provider’s stock worth $67,000 after buying an additional 201 shares in the last quarter. Finally, Bank & Trust Co acquired a new stake in M&T Bank in the 2nd quarter valued at approximately $70,000. 84.68% of the stock is currently owned by institutional investors.

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.