M&T Bank (NYSE:MTB) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of M&T Bank (NYSE:MTB) in a report released on Tuesday, Benzinga reports. The firm currently has a $160.00 target price on the financial services provider’s stock.

Other research analysts have also recently issued reports about the company. Morgan Stanley upped their price target on M&T Bank from $160.00 to $179.00 and gave the stock an overweight rating in a research note on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft lowered M&T Bank from a buy rating to a hold rating and set a $145.00 price objective on the stock. in a research report on Monday, December 18th. Jefferies Financial Group cut their price objective on M&T Bank from $154.00 to $151.00 and set a hold rating on the stock in a research report on Monday, April 8th. Barclays upped their price objective on M&T Bank from $150.00 to $170.00 and gave the stock an equal weight rating in a research report on Tuesday, January 2nd. Finally, Piper Sandler cut their price objective on M&T Bank from $156.00 to $152.00 and set an overweight rating on the stock in a research report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, M&T Bank has an average rating of Hold and an average target price of $158.48.

M&T Bank Stock Up 0.2 %

NYSE:MTB opened at $139.30 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The stock’s fifty day moving average is $139.76 and its two-hundred day moving average is $132.81. M&T Bank has a 52 week low of $108.53 and a 52 week high of $148.23. The stock has a market capitalization of $23.21 billion, a price-to-earnings ratio of 9.42, a price-to-earnings-growth ratio of 1.26 and a beta of 0.80.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the company earned $4.09 earnings per share. Research analysts anticipate that M&T Bank will post 13.93 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 3.73%. The ex-dividend date was Friday, March 1st. M&T Bank’s payout ratio is 35.16%.

Insiders Place Their Bets

In other news, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the sale, the director now owns 6,367 shares in the company, valued at $923,215. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Doris P. Meister sold 1,675 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $137.91, for a total transaction of $230,999.25. Following the completion of the sale, the executive vice president now owns 8,961 shares in the company, valued at $1,235,811.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the sale, the director now owns 6,367 shares of the company’s stock, valued at approximately $923,215. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,481 shares of company stock valued at $5,114,624. 0.82% of the stock is currently owned by insiders.

Institutional Investors Weigh In On M&T Bank

Hedge funds have recently made changes to their positions in the business. GSA Capital Partners LLP acquired a new stake in shares of M&T Bank during the third quarter worth about $833,000. Tokio Marine Asset Management Co. Ltd. lifted its position in M&T Bank by 8.3% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,985 shares of the financial services provider’s stock valued at $504,000 after purchasing an additional 305 shares during the period. NBC Securities Inc. acquired a new stake in M&T Bank in the third quarter valued at about $299,000. Metis Global Partners LLC lifted its position in M&T Bank by 15.2% in the third quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider’s stock valued at $893,000 after purchasing an additional 931 shares during the period. Finally, Matrix Asset Advisors Inc. NY lifted its position in M&T Bank by 15.7% in the fourth quarter. Matrix Asset Advisors Inc. NY now owns 92,537 shares of the financial services provider’s stock valued at $12,685,000 after purchasing an additional 12,590 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

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.