Brokerages Set M&T Bank Co. (NYSE:MTB) Target Price at $170.35

M&T Bank Co. (NYSE:MTB) has earned an average recommendation of “Hold” from the fifteen ratings firms that are presently covering the stock, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $170.35.

A number of equities research analysts have commented on the company. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, July 19th. Jefferies Financial Group lifted their target price on M&T Bank from $160.00 to $161.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Citigroup upped their price target on M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Royal Bank of Canada lifted 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. Finally, DA Davidson upped their target price on shares of M&T Bank from $159.00 to $185.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th.

M&T Bank Trading Down 2.7 %

Shares of NYSE:MTB opened at $162.29 on Friday. M&T Bank has a 12-month low of $108.53 and a 12-month high of $176.44. The company has a market cap of $27.08 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 3.34 and a beta of 0.77. The stock has a 50 day moving average of $154.10 and a 200 day moving average of $146.25. 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 (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 analysts’ consensus estimates of $3.50 by $0.23. The firm had revenue of $3.37 billion during 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 period in the prior year, the company posted $5.12 earnings per share. As a group, equities research analysts expect that M&T Bank will post 14.24 EPS for the current year.

M&T Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were given a dividend of $1.35 per share. The ex-dividend date was Monday, June 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.33%. This is an increase from M&T Bank’s previous quarterly dividend of $1.30. M&T Bank’s payout ratio is currently 36.51%.

Insider Buying and Selling

In other M&T Bank news, EVP Christopher E. Kay sold 1,821 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $153.78, for a total transaction of $280,033.38. Following the transaction, the executive vice president now owns 8,579 shares in the company, valued at $1,319,278.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Kirk W. Walters sold 7,464 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $173.97, for a total value of $1,298,512.08. Following the sale, the director now directly owns 15,045 shares in the company, valued at $2,617,378.65. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Christopher E. Kay sold 1,821 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $153.78, for a total value of $280,033.38. Following the sale, the executive vice president now directly owns 8,579 shares of the company’s stock, valued at $1,319,278.62. The disclosure for this sale can be found here. Insiders sold a total of 78,165 shares of company stock worth $12,124,808 over the last three months. 0.82% of the stock is owned by insiders.

Institutional Trading of M&T Bank

A number of hedge funds and other institutional investors have recently bought and sold shares of MTB. HHM Wealth Advisors LLC purchased a new position in M&T Bank in the 4th quarter worth about $25,000. General Partner Inc. purchased a new position in shares of M&T Bank during the first quarter worth approximately $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. Planned Solutions Inc. purchased a new stake in shares of M&T Bank in the fourth quarter valued at approximately $33,000. Finally, Wetzel Investment Advisors Inc. bought a new position in M&T Bank in the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

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.