M&T Bank (NYSE:MTB) Price Target Lowered to $175.00 at Wells Fargo & Company

M&T Bank (NYSE:MTB) had its price target reduced by Wells Fargo & Company from $185.00 to $175.00 in a research report released on Tuesday,Benzinga reports. They currently have an underweight rating on the financial services provider’s stock.

MTB has been the subject of a number of other research reports. DA Davidson dropped their price objective on M&T Bank from $205.00 to $189.00 and set a “neutral” rating for the company in a report on Tuesday. Truist Financial cut their price target on shares of M&T Bank from $236.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, April 4th. Morgan Stanley dropped their target price on shares of M&T Bank from $269.00 to $253.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Evercore ISI decreased their price target on shares of M&T Bank from $234.00 to $205.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Finally, JPMorgan Chase & Co. dropped their price objective on M&T Bank from $212.50 to $186.50 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $208.14.

M&T Bank Trading Up 0.6 %

Shares of MTB opened at $159.47 on Tuesday. M&T Bank has a twelve month low of $136.18 and a twelve month high of $225.70. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The company’s fifty day simple moving average is $179.62 and its 200-day simple moving average is $191.54. The company has a market cap of $26.20 billion, a P/E ratio of 10.90, a P/E/G ratio of 1.38 and a beta of 0.58.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.03). The firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.35 billion. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same period last year, the company earned $3.09 earnings per share. As a group, analysts expect that M&T Bank will post 16.57 EPS for the current year.

M&T Bank announced that its Board of Directors has approved a stock repurchase plan on Wednesday, January 22nd that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 12.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend was Monday, March 3rd. M&T Bank’s dividend payout ratio is currently 36.91%.

Insider Buying and Selling

In other news, EVP Christopher E. Kay sold 1,738 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the transaction, the executive vice president now owns 10,751 shares in the company, valued at $1,852,827.34. This represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.53% of the stock is owned by company insiders.

Institutional Trading of M&T Bank

Several large investors have recently bought and sold shares of MTB. Sanctuary Advisors LLC lifted its stake in shares of M&T Bank by 0.3% during the fourth quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider’s stock worth $3,195,000 after buying an additional 52 shares during the period. Quadrant Capital Group LLC increased its holdings in M&T Bank by 5.8% in the 4th quarter. Quadrant Capital Group LLC now owns 971 shares of the financial services provider’s stock worth $183,000 after buying an additional 53 shares during the period. Catalina Capital Group LLC increased its holdings in M&T Bank by 2.0% in the 4th quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider’s stock worth $531,000 after buying an additional 56 shares during the period. Marcum Wealth LLC raised its position in M&T Bank by 4.9% during the 1st quarter. Marcum Wealth LLC now owns 1,231 shares of the financial services provider’s stock worth $220,000 after buying an additional 57 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in M&T Bank by 1.7% during the 4th quarter. Parallel Advisors LLC now owns 3,512 shares of the financial services provider’s stock valued at $660,000 after acquiring an additional 60 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Company Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.