Macquarie set a $158.00 price objective on M&T Bank (NYSE:MTB) in a research report report published on Friday morning, TipRanks reports. The firm currently has a sell rating on the financial services provider’s stock.
Several other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. restated a buy rating on shares of Gilead Sciences in a report on Tuesday, July 2nd. Piper Jaffray Companies lowered shares of M&T Bank from an overweight rating to a neutral rating and reduced their target price for the company from $196.00 to $168.00 in a report on Monday. Wedbush lifted their price target on shares of Wintrust Financial from $79.00 to $80.00 and gave the stock an outperform rating in a research note on Tuesday, April 16th. Keefe, Bruyette & Woods lifted their price target on shares of Fidelity National Financial from $44.00 to $48.00 and gave the stock an outperform rating in a research note on Friday. Finally, Zacks Investment Research downgraded shares of First Merchants from a hold rating to a sell rating in a research note on Monday, July 1st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $176.77.
Shares of NYSE:MTB traded up $1.08 during midday trading on Friday, hitting $162.61. 782,988 shares of the company’s stock traded hands, compared to its average volume of 781,847. The company has a current ratio of 1.01, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $22.25 billion, a P/E ratio of 12.64, a PEG ratio of 2.21 and a beta of 1.06. The firm has a fifty day moving average price of $168.29. M&T Bank has a twelve month low of $133.78 and a twelve month high of $180.77.
The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend was Friday, May 31st. M&T Bank’s dividend payout ratio (DPR) is 31.10%.
In other news, insider Robert J. Bojdak sold 1,638 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $170.03, for a total value of $278,509.14. Following the completion of the sale, the insider now owns 20,199 shares of the company’s stock, valued at approximately $3,434,435.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William J. Farrell II sold 1,476 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $169.43, for a total transaction of $250,078.68. Following the completion of the sale, the insider now directly owns 13,844 shares of the company’s stock, valued at approximately $2,345,588.92. The disclosure for this sale can be found here. Insiders have sold a total of 5,521 shares of company stock worth $920,389 in the last ninety days. 0.54% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Liberty Wealth Management LLC increased its position in shares of M&T Bank by 972.7% in the 1st quarter. Liberty Wealth Management LLC now owns 236 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 214 shares during the last quarter. Pearl River Capital LLC bought a new stake in shares of M&T Bank in the 1st quarter worth about $42,000. Webster Bank N. A. bought a new stake in shares of M&T Bank in the 2nd quarter worth about $43,000. CX Institutional bought a new stake in shares of M&T Bank during the 1st quarter valued at about $47,000. Finally, Legacy Advisors LLC bought a new stake in shares of M&T Bank during the 1st quarter valued at about $66,000. 81.72% of the stock is owned by institutional investors.
About M&T Bank
M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.
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