M&T Bank (NYSE:MTB) Stock Rating Upgraded by Evercore ISI

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

MTB has been the subject of a number of other research reports. 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 report on Monday, July 22nd. JPMorgan Chase & Co. raised shares of M&T Bank from a neutral rating to an overweight rating and lifted their target price for the stock from $183.00 to $215.00 in a research note on Tuesday, September 3rd. Jefferies Financial Group upped their price objective on M&T Bank from $160.00 to $161.00 and gave the company a hold rating in a report on Wednesday, July 3rd. Royal Bank of Canada upped their price target on M&T Bank from $160.00 to $174.00 and gave the company an outperform rating in a research note on Friday, July 19th. Finally, 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 report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, M&T Bank currently has an average rating of Hold and a consensus price target of $185.75.

M&T Bank Stock Performance

Shares of MTB stock opened at $178.74 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. M&T Bank has a 12-month low of $108.53 and a 12-month high of $180.63. The business’s 50 day moving average is $168.84 and its two-hundred day moving average is $155.83. The company has a market capitalization of $29.82 billion, a P/E ratio of 12.09, a P/E/G ratio of 3.55 and a beta of 0.75.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.50 by $0.23. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. The business had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period last year, the firm posted $5.12 earnings per share. Analysts expect that M&T Bank will post 14.23 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 3.02%. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

Insider Buying and Selling at M&T Bank

In other news, Director Robert E. Sadler, Jr. sold 1,000 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total value of $172,230.00. Following the sale, the director now directly owns 31,796 shares in the company, valued at approximately $5,476,225.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Robert E. Sadler, Jr. sold 1,000 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total value of $172,230.00. Following the transaction, the director now owns 31,796 shares in the company, valued at approximately $5,476,225.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Denis J. Salamone sold 10,000 shares of the business’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 value of $1,720,300.00. Following the sale, the director now owns 44,902 shares of the company’s stock, valued at approximately $7,724,491.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,699 shares of company stock valued at $5,115,349 in the last quarter. Corporate insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC grew its holdings in shares of M&T Bank by 9.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,896 shares of the financial services provider’s stock worth $534,000 after purchasing an additional 346 shares during the last quarter. TD Asset Management Inc grew its stake in M&T Bank by 5.3% during the 4th quarter. TD Asset Management Inc now owns 61,659 shares of the financial services provider’s stock worth $8,452,000 after buying an additional 3,090 shares during the last quarter. California State Teachers Retirement System increased its position in M&T Bank by 3.3% during the fourth quarter. California State Teachers Retirement System now owns 271,879 shares of the financial services provider’s stock worth $37,269,000 after buying an additional 8,799 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in M&T Bank in the fourth quarter valued at approximately $541,000. Finally, KBC Group NV boosted its holdings in shares of M&T Bank by 2.9% in the fourth quarter. KBC Group NV now owns 88,570 shares of the financial services provider’s stock valued at $12,141,000 after acquiring an additional 2,493 shares during the period. 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.