Macquarie set a $158.00 price target on M&T Bank (NYSE:MTB) in a research note published on Friday, TipRanks reports. The firm currently has a sell rating on the financial services provider’s stock.
Several other research analysts have also weighed in on MTB. Keefe, Bruyette & Woods boosted their price objective 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. ValuEngine lowered shares of United Rentals from a sell rating to a strong sell rating in a research note on Thursday, July 18th. Zacks Investment Research lowered shares of First Merchants from a hold rating to a sell rating in a research note on Monday, July 1st. Barclays set a $89.00 price objective on shares of Franco Nevada and gave the stock a hold rating in a research note on Friday. Finally, Wedbush boosted their price objective 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. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $176.77.
Shares of M&T Bank stock traded up $1.08 during trading on Friday, hitting $162.61. 782,988 shares of the stock were exchanged, compared to its average volume of 781,847. The firm has a market cap of $22.25 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 2.21 and a beta of 1.06. The stock has a fifty day moving average of $168.29. M&T Bank has a 1-year low of $133.78 and a 1-year high of $180.77. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.01 and a quick ratio of 1.06.
The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were paid a $1.00 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $4.00 dividend on an annualized basis and a yield of 2.46%. M&T Bank’s dividend payout ratio (DPR) is currently 31.10%.
In related news, insider Robert J. Bojdak sold 1,638 shares of the company’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 transaction, the insider now owns 20,199 shares in the company, valued at approximately $3,434,435.97. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider William J. Farrell II sold 1,476 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $169.43, for a total transaction of $250,078.68. Following the completion of the transaction, the insider now owns 13,844 shares in the company, valued at approximately $2,345,588.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,521 shares of company stock worth $920,389. 0.54% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Liberty Wealth Management LLC grew its position in shares of M&T Bank by 972.7% during 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 in the last quarter. Pearl River Capital LLC acquired a new position in shares of M&T Bank during the 1st quarter worth approximately $42,000. Webster Bank N. A. acquired a new position in shares of M&T Bank during the 2nd quarter worth approximately $43,000. CX Institutional acquired a new position in shares of M&T Bank during the 1st quarter worth approximately $47,000. Finally, Legacy Advisors LLC acquired a new position in shares of M&T Bank during the 1st quarter worth approximately $66,000. Institutional investors and hedge funds own 81.72% of the company’s stock.
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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