M&T Bank (NYSE:MTB) had its price objective boosted by Wells Fargo & Company from $150.00 to $160.00 in a research note released on Monday morning, The Fly reports. Wells Fargo & Company currently has an equal weight rating on the financial services provider’s stock.
Several other analysts also recently commented on the stock. Royal Bank of Canada raised their price objective on shares of M&T Bank from $130.00 to $150.00 and gave the company an outperform rating in a research report on Friday, January 22nd. Bank of America upgraded shares of M&T Bank from a neutral rating to a buy rating in a research report on Thursday, January 7th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of M&T Bank from $155.00 to $161.00 and gave the company a buy rating in a research report on Thursday, January 28th. TheStreet upgraded shares of M&T Bank from a c+ rating to a b- rating in a research report on Tuesday, November 17th. Finally, Zacks Investment Research upgraded shares of M&T Bank from a hold rating to a buy rating and set a $144.00 price objective on the stock in a research report on Wednesday, January 27th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $132.77.
MTB opened at $155.27 on Monday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.37. M&T Bank has a 1-year low of $85.09 and a 1-year high of $165.78. The company has a market capitalization of $19.92 billion, a PE ratio of 15.50 and a beta of 1.23. The firm’s 50 day simple moving average is $142.10 and its two-hundred day simple moving average is $117.87.
M&T Bank declared that its Board of Directors has approved a share repurchase program on Wednesday, January 20th that allows the company to repurchase $800.00 million in shares. This repurchase authorization allows the financial services provider to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 31st. Shareholders of record on Monday, March 1st will be issued a $1.10 dividend. The ex-dividend date of this dividend is Friday, February 26th. This represents a $4.40 dividend on an annualized basis and a yield of 2.83%. M&T Bank’s dividend payout ratio is currently 32.00%.
In other M&T Bank news, Director Denis J. Salamone sold 16,394 shares of M&T Bank stock in a transaction on Monday, December 7th. The shares were sold at an average price of $127.19, for a total value of $2,085,152.86. Following the completion of the transaction, the director now directly owns 71,776 shares of the company’s stock, valued at approximately $9,129,189.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.58% of the company’s stock.
Large investors have recently modified their holdings of the business. Kestra Advisory Services LLC purchased a new position in shares of M&T Bank in the 3rd quarter worth $563,000. Rocky Mountain Advisers LLC boosted its stake in shares of M&T Bank by 1,438.5% during the 4th quarter. Rocky Mountain Advisers LLC now owns 200 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 187 shares during the period. Vantage Consulting Group Inc purchased a new position in shares of M&T Bank during the 4th quarter worth about $26,000. Barrett Asset Management LLC boosted its stake in shares of M&T Bank by 92.0% during the 4th quarter. Barrett Asset Management LLC now owns 240 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 115 shares during the period. Finally, Signaturefd LLC boosted its stake in shares of M&T Bank by 78.6% during the 4th quarter. Signaturefd LLC now owns 259 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 114 shares during the period. 82.68% of the stock is owned by institutional investors and hedge funds.
M&T Bank Company Profile
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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