M&T Bank (MTB) Raised to “Outperform” at Keefe, Bruyette & Woods

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Keefe, Bruyette & Woods upgraded shares of M&T Bank (NYSE:MTB) from a market perform rating to an outperform rating in a research report released on Monday morning, Marketbeat Ratings reports. The firm currently has $120.00 price objective on the financial services provider’s stock.

Several other equities analysts have also commented on the company. Morgan Stanley upped their target price on M&T Bank from $191.00 to $195.00 and gave the company an equal weight rating in a research note on Friday, July 20th. Wedbush upped their target price on M&T Bank from $190.00 to $197.00 and gave the company a neutral rating in a research note on Thursday, July 19th. ValuEngine upgraded M&T Bank from a sell rating to a hold rating in a research note on Thursday, July 19th. Jefferies Financial Group reiterated a buy rating and issued a $195.00 target price on shares of M&T Bank in a research note on Friday, July 13th. Finally, Sanford C. Bernstein upgraded M&T Bank from a market perform rating to an outperform rating in a research note on Wednesday, June 27th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $176.13.

M&T Bank stock opened at $178.64 on Monday. The firm has a market capitalization of $25.47 billion, a P/E ratio of 19.22, a price-to-earnings-growth ratio of 0.95 and a beta of 0.92. M&T Bank has a 52 week low of $141.12 and a 52 week high of $197.37. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.58.

M&T Bank (NYSE:MTB) last released its earnings results on Wednesday, July 18th. The financial services provider reported $3.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.17 by $0.09. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. M&T Bank had a return on equity of 11.80% and a net margin of 24.57%. During the same period in the prior year, the firm posted $2.35 earnings per share. research analysts predict that M&T Bank will post 12.84 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Tuesday, September 4th will be paid a dividend of $1.00 per share. The ex-dividend date is Friday, August 31st. This is a positive change from M&T Bank’s previous quarterly dividend of $0.80. This represents a $4.00 annualized dividend and a yield of 2.24%. M&T Bank’s dividend payout ratio is currently 42.78%.

In other M&T Bank news, Director Denis J. Salamone sold 25,209 shares of the company’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $179.76, for a total transaction of $4,531,569.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.48% of the company’s stock.

Large investors have recently made changes to their positions in the business. Private Capital Group LLC increased its stake in M&T Bank by 728.4% during the first quarter. Private Capital Group LLC now owns 613 shares of the financial services provider’s stock worth $113,000 after acquiring an additional 539 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in M&T Bank by 8,330.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 843 shares of the financial services provider’s stock worth $143,000 after acquiring an additional 833 shares during the last quarter. Cerebellum GP LLC acquired a new stake in M&T Bank during the second quarter worth about $171,000. Fisher Asset Management LLC acquired a new stake in M&T Bank during the first quarter worth about $204,000. Finally, Chicago Equity Partners LLC acquired a new stake in M&T Bank during the first quarter worth about $208,000. Institutional investors own 81.21% 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 retail and commercial banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals.

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Analyst Recommendations for M&T Bank (NYSE:MTB)

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