M&T Bank (NYSE:MTB) Price Target Raised to $243.00

M&T Bank (NYSE:MTB) had its target price raised by Piper Sandler from $205.00 to $243.00 in a report released on Wednesday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other equities research analysts have also issued reports on MTB. Wedbush upped their target price on M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. upgraded M&T Bank from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $183.00 to $215.00 in a research report on Tuesday, September 3rd. Barclays lifted their price objective on M&T Bank from $170.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. The Goldman Sachs Group upped their target price on shares of M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Wells Fargo & Company lifted their price target on shares of M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, M&T Bank has a consensus rating of “Hold” and an average target price of $206.41.

M&T Bank Trading Down 0.4 %

Shares of MTB stock opened at $219.99 on Wednesday. The stock has a market cap of $36.50 billion, a P/E ratio of 16.28, a P/E/G ratio of 3.11 and a beta of 0.74. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. M&T Bank has a fifty-two week low of $125.61 and a fifty-two week high of $225.70. The business has a fifty day simple moving average of $196.45 and a 200-day simple moving average of $171.86.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.60 by $0.48. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.30 billion. On average, analysts forecast that M&T Bank will post 14.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Monday, December 2nd. M&T Bank’s dividend payout ratio (DPR) is currently 39.97%.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director John P. Barnes sold 20,000 shares of M&T Bank stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $217.45, for a total transaction of $4,349,000.00. Following the transaction, the director now directly owns 35,480 shares of the company’s stock, valued at $7,715,126. The trade was a 36.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Tracy S. Woodrow sold 2,121 shares of the 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 directly owns 5,141 shares of the company’s stock, valued at $1,134,875.75. The trade was a 29.21 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,504 shares of company stock valued at $18,394,012. Company insiders own 0.82% of the company’s stock.

Institutional Trading of M&T Bank

A number of institutional investors have recently added to or reduced their stakes in MTB. Plato Investment Management Ltd raised its position in M&T Bank by 2,300.0% in the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 161 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of M&T Bank in the third quarter valued at about $32,000. Hexagon Capital Partners LLC raised its holdings in shares of M&T Bank by 54.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after buying an additional 68 shares during the period. Oakworth Capital Inc. acquired a new position in M&T Bank during the 2nd quarter worth approximately $35,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its holdings in 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 during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

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.