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

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

MTB has been the subject of a number of other reports. Morgan Stanley reduced their price objective on shares of M&T Bank from $269.00 to $253.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Barclays reduced their price target on shares of M&T Bank from $235.00 to $220.00 and set an “equal weight” rating for the company in a research report on Tuesday. Citigroup decreased their price target on shares of M&T Bank from $230.00 to $195.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Evercore ISI cut their price objective on 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, Robert W. Baird lowered their price target on M&T Bank from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $208.14.

M&T Bank Trading Up 0.6 %

MTB stock opened at $159.47 on Tuesday. M&T Bank has a 52-week low of $136.18 and a 52-week high of $225.70. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The firm has a market cap of $26.20 billion, a P/E ratio of 10.90, a PEG ratio of 1.38 and a beta of 0.58. The company’s 50-day simple moving average is $179.62 and its 200-day simple moving average is $191.54.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing the consensus estimate of $3.41 by ($0.03). The business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.35 billion. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same period in the previous year, the business posted $3.09 earnings per share. As a group, equities analysts forecast that M&T Bank will post 16.57 EPS for the current fiscal year.

M&T Bank Dividend Announcement

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

M&T Bank declared that its board has approved a share buyback plan on Wednesday, January 22nd that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 12.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

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

Institutional Trading of M&T Bank

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of M&T Bank by 14.3% during the fourth quarter. FMR LLC now owns 14,110,412 shares of the financial services provider’s stock worth $2,652,899,000 after buying an additional 1,761,014 shares during the period. Norges Bank purchased a new position in M&T Bank during the 4th quarter valued at about $317,690,000. GAMMA Investing LLC grew its position in M&T Bank by 18,471.2% in the 1st quarter. GAMMA Investing LLC now owns 705,705 shares of the financial services provider’s stock valued at $126,145,000 after acquiring an additional 701,905 shares in the last quarter. Nuveen Asset Management LLC increased its stake in M&T Bank by 22.3% during the fourth quarter. Nuveen Asset Management LLC now owns 1,567,270 shares of the financial services provider’s stock worth $294,662,000 after purchasing an additional 286,049 shares during the period. Finally, D. E. Shaw & Co. Inc. acquired a new stake in shares of M&T Bank during the fourth quarter worth about $48,939,000. 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.