M&T Bank (NYSE:MTB) Rating Increased to Outperform at Evercore ISI

Evercore ISI upgraded shares of M&T Bank (NYSE:MTB) from an in-line rating to an outperform rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports. They currently have $210.00 target price on the financial services provider’s stock, up from their previous target price of $187.00.

MTB has been the topic of several other research reports. Wedbush lifted their price objective on shares of M&T Bank from $208.00 to $210.00 and gave the stock an outperform rating in a research note on Tuesday, September 24th. Morgan Stanley upped their price target on M&T Bank from $195.00 to $220.00 and gave the company an overweight rating in a report on Monday, August 5th. StockNews.com downgraded M&T Bank from a hold rating to a sell rating in a research report on Tuesday, September 24th. Keefe, Bruyette & Woods lifted their target price on M&T Bank from $170.00 to $180.00 and gave the stock a market perform rating in a report on Friday, July 19th. Finally, DA Davidson upped their target price on M&T Bank from $159.00 to $185.00 and gave the company a neutral rating in a report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $185.75.

M&T Bank Stock Performance

Shares of NYSE MTB opened at $178.74 on Wednesday. M&T Bank has a 1 year low of $108.53 and a 1 year high of $180.63. The firm has a market cap of $29.82 billion, a P/E ratio of 12.09, a PEG ratio of 3.55 and a beta of 0.75. The stock has a fifty day moving average price of $168.84 and a two-hundred day moving average price of $155.72. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, beating the consensus estimate of $3.50 by $0.23. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. The business had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter last year, the business posted $5.12 earnings per share. Research analysts forecast that M&T Bank will post 14.23 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend was Tuesday, September 3rd. M&T Bank’s dividend payout ratio is currently 36.51%.

Insider Activity at M&T Bank

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 1,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total value of $172,230.00. Following the completion of the sale, the director now owns 31,796 shares in the company, valued at $5,476,225.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Kirk W. Walters sold 7,464 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $173.97, for a total value of $1,298,512.08. Following the completion of the sale, the director now owns 15,045 shares of the company’s stock, valued at approximately $2,617,378.65. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total transaction of $172,230.00. Following the transaction, the director now directly owns 31,796 shares in the company, valued at approximately $5,476,225.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,699 shares of company stock valued at $5,115,349. Corporate insiders own 0.82% of the company’s stock.

Institutional Trading of M&T Bank

Several large investors have recently added to or reduced their stakes in MTB. HBW Advisory Services LLC bought a new stake in M&T Bank in the third quarter worth $223,000. Park Avenue Securities LLC lifted its position in shares of M&T Bank by 5.3% in the third quarter. Park Avenue Securities LLC now owns 5,740 shares of the financial services provider’s stock worth $1,022,000 after buying an additional 289 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of M&T Bank by 394.6% during the 3rd quarter. SG Americas Securities LLC now owns 100,349 shares of the financial services provider’s stock worth $17,874,000 after acquiring an additional 80,061 shares in the last quarter. Czech National Bank increased its holdings in shares of M&T Bank by 7.0% during the 3rd quarter. Czech National Bank now owns 34,019 shares of the financial services provider’s stock valued at $6,059,000 after acquiring an additional 2,224 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of M&T Bank by 4.4% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 4,916 shares of the financial services provider’s stock valued at $876,000 after acquiring an additional 205 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

About M&T Bank

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.