JPMorgan Chase & Co. Issues Pessimistic Forecast for M&T Bank (NYSE:MTB) Stock Price

M&T Bank (NYSE:MTB - Free Report) had its price objective decreased by JPMorgan Chase & Co. from $212.50 to $186.50 in a report issued on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the financial services provider's stock.

Several other research firms also recently commented on MTB. Evercore ISI dropped their price target on shares of M&T Bank from $234.00 to $205.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. DA Davidson boosted their target price on M&T Bank from $222.00 to $223.00 and gave the stock a "neutral" rating in a research note on Friday, January 17th. StockNews.com raised M&T Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, February 5th. Keefe, Bruyette & Woods boosted their price objective on M&T Bank from $205.00 to $221.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company reduced their target price on shares of M&T Bank from $205.00 to $185.00 and set an "underweight" rating on the stock in a report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $215.97.

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M&T Bank Trading Up 0.5 %

MTB traded up $0.84 during mid-day trading on Thursday, hitting $158.49. 418,235 shares of the stock were exchanged, compared to its average volume of 1,103,223. The firm's fifty day moving average is $185.95 and its two-hundred day moving average is $192.65. M&T Bank has a 1-year low of $133.03 and a 1-year high of $225.70. The company has a market cap of $26.04 billion, a PE ratio of 10.76, a PEG ratio of 1.38 and a beta of 0.58. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.70 by $0.22. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same quarter in the previous year, the firm earned $2.74 EPS. Equities analysts forecast that M&T Bank will post 16.57 earnings per share for the current fiscal year.

M&T Bank declared that its board has approved a stock repurchase program on Wednesday, January 22nd that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend was Monday, March 3rd. M&T Bank's payout ratio is 36.91%.

Insider Buying and Selling at M&T Bank

In other news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value of $299,526.92. Following the transaction, the executive vice president now directly owns 10,751 shares of the company's stock, valued at $1,852,827.34. The trade was a 13.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.53% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wood Tarver Financial Group LLC acquired a new stake in shares of M&T Bank during the fourth quarter worth about $29,000. Banque Transatlantique SA acquired a new position in shares of M&T Bank in the fourth quarter valued at approximately $38,000. Y.D. More Investments Ltd increased its holdings in shares of M&T Bank by 122.6% in the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 114 shares during the period. Human Investing LLC purchased a new stake in shares of M&T Bank during the fourth quarter worth approximately $44,000. Finally, Sierra Ocean LLC acquired a new stake in shares of M&T Bank during the fourth quarter worth $44,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

About M&T Bank

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.