M&T Bank (NYSE:MTB) Price Target Raised to $235.00

M&T Bank (NYSE:MTB) had its price objective boosted by Barclays from $228.00 to $235.00 in a research note published on Monday morning,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Several other research analysts have also weighed in on the stock. Piper Sandler increased their price objective on shares of M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Keefe, Bruyette & Woods increased their price target on shares of M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Wells Fargo & Company boosted their price objective on shares of M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a research note on Friday, November 15th. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Royal Bank of Canada boosted their price target on M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $216.86.

M&T Bank Stock Down 0.5 %

MTB stock opened at $191.06 on Monday. M&T Bank has a one year low of $128.31 and a one year high of $225.70. The stock has a market capitalization of $31.70 billion, a P/E ratio of 14.14, a PEG ratio of 2.79 and a beta of 0.79. The company has a 50 day moving average price of $203.32 and a two-hundred day moving average price of $181.51. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.60 by $0.48. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.30 billion. As a group, sell-side analysts expect that M&T Bank will post 14.63 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were paid a $1.35 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.83%. M&T Bank’s dividend payout ratio (DPR) is presently 39.97%.

Insider Activity at M&T Bank

In other news, Vice Chairman Kevin J. Pearson sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $195.88, for a total transaction of $1,469,100.00. Following the completion of the sale, the insider now owns 40,502 shares of the company’s stock, valued at approximately $7,933,531.76. This trade represents a 15.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Tracy S. Woodrow sold 2,121 shares of M&T Bank stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total transaction of $468,210.75. Following the completion of the sale, the executive vice president now owns 5,141 shares of the company’s stock, valued at approximately $1,134,875.75. This trade represents a 29.21 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 84,994 shares of company stock valued at $17,211,278. Corporate insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

Several hedge funds and other institutional investors have recently modified their holdings of MTB. Plato Investment Management Ltd lifted its position in shares of M&T Bank by 2,300.0% during the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 161 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in M&T Bank during the 3rd quarter worth approximately $32,000. Hexagon Capital Partners LLC grew its position in shares of M&T Bank by 54.4% in the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 68 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of M&T Bank by 329.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 158 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of M&T Bank in the 3rd quarter valued at approximately $44,000. Institutional investors own 84.68% of the company’s stock.

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.