Royal Bank of Canada Boosts M&T Bank (NYSE:MTB) Price Target to $208.00

M&T Bank (NYSE:MTB) had its price objective lifted by Royal Bank of Canada from $190.00 to $208.00 in a report published on Friday, MarketBeat reports. Royal Bank of Canada currently has an outperform rating on the financial services provider’s stock.

MTB has been the subject of several other reports. Wells Fargo & Company lowered M&T Bank from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $170.00 to $165.00 in a research report on Thursday, August 15th. Morgan Stanley upped their price objective on M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. StockNews.com downgraded shares of M&T Bank from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Wedbush increased their target price on shares of M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Finally, Jefferies Financial Group lifted their price target on shares of M&T Bank from $160.00 to $161.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $196.18.

M&T Bank Stock Down 0.7 %

Shares of NYSE MTB opened at $197.55 on Friday. The firm has a 50 day moving average price of $172.93 and a 200 day moving average price of $158.65. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market cap of $32.96 billion, a P/E ratio of 13.36, a P/E/G ratio of 3.27 and a beta of 0.75. M&T Bank has a 52-week low of $108.53 and a 52-week high of $200.94.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. The firm had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $2.27 billion. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. During the same period in the previous year, the firm earned $5.12 earnings per share. Analysts expect that M&T Bank will post 14.16 EPS for the current year.

M&T Bank Announces Dividend

The business also recently announced 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 2.73%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s payout ratio is 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 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 completion of the sale, the director now directly owns 31,796 shares in the company, valued at $5,476,225.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Kirk W. Walters sold 7,464 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $173.97, for a total transaction of $1,298,512.08. Following the transaction, the director now directly owns 15,045 shares of the company’s stock, valued at approximately $2,617,378.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total transaction of $172,230.00. Following the completion of the sale, the director now directly owns 31,796 shares of the company’s stock, valued at $5,476,225.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,699 shares of company stock worth $5,115,349. Insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Vest Financial LLC increased its holdings in M&T Bank by 1.3% in the 3rd quarter. Vest Financial LLC now owns 150,454 shares of the financial services provider’s stock valued at $26,799,000 after buying an additional 1,869 shares during the period. Resonant Capital Advisors LLC boosted its position in shares of M&T Bank by 28.6% during the 3rd quarter. Resonant Capital Advisors LLC now owns 2,110 shares of the financial services provider’s stock worth $376,000 after acquiring an additional 469 shares in the last quarter. Wealth Alliance Advisory Group LLC bought a new position in M&T Bank in the third quarter valued at approximately $277,000. Raymond James & Associates raised its position in M&T Bank by 11.0% during the third quarter. Raymond James & Associates now owns 66,209 shares of the financial services provider’s stock valued at $11,793,000 after purchasing an additional 6,552 shares in the last quarter. Finally, Blue Trust Inc. raised its position in M&T Bank by 79.1% during the third quarter. Blue Trust Inc. now owns 2,491 shares of the financial services provider’s stock valued at $444,000 after purchasing an additional 1,100 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

M&T Bank Company Profile

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.