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

M&T Bank (NYSE:MTB) had its target price raised by Jefferies Financial Group from $215.00 to $235.00 in a research note issued to investors on Monday,MarketScreener reports. Jefferies Financial Group currently has a buy rating on the financial services provider’s stock.

MTB has been the subject of several other reports. Piper Sandler started coverage on shares of M&T Bank in a research note on Monday, October 6th. They set an “overweight” rating and a $225.00 price objective for the company. Weiss Ratings restated a “buy (b-)” rating on shares of M&T Bank in a report on Tuesday, November 25th. Evercore ISI increased their price target on M&T Bank from $222.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Cantor Fitzgerald assumed coverage on M&T Bank in a research report on Wednesday, September 10th. They issued an “overweight” rating and a $228.00 price objective on the stock. Finally, Truist Financial reduced their price objective on M&T Bank from $227.00 to $217.00 and set a “buy” rating on the stock in a research note on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, M&T Bank has an average rating of “Moderate Buy” and an average price target of $215.79.

M&T Bank Stock Performance

Shares of NYSE:MTB opened at $195.59 on Monday. The business has a 50-day moving average of $187.03 and a two-hundred day moving average of $190.39. The firm has a market capitalization of $30.06 billion, a PE ratio of 12.04, a P/E/G ratio of 0.91 and a beta of 0.61. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.97 and a quick ratio of 0.97. M&T Bank has a 12 month low of $150.75 and a 12 month high of $215.05.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share for the quarter. The business had revenue of $1.54 billion for the quarter. M&T Bank had a return on equity of 10.62% and a net margin of 20.91%. As a group, research analysts forecast that M&T Bank will post 16.57 earnings per share for the current year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, December 1st. M&T Bank’s payout ratio is presently 36.95%.

Insider Activity

In related news, EVP Christopher E. Kay sold 5,250 shares of the stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $191.70, for a total value of $1,006,425.00. Following the completion of the transaction, the executive vice president owned 5,501 shares of the company’s stock, valued at approximately $1,054,541.70. This represents a 48.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert E. Sadler, Jr. sold 6,000 shares of M&T Bank stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $190.06, for a total value of $1,140,360.00. Following the sale, the director owned 17,070 shares in the company, valued at $3,244,324.20. This represents a 26.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.53% of the company’s stock.

Institutional Trading of M&T Bank

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Commerzbank Aktiengesellschaft FI grew its stake in M&T Bank by 27.3% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 8,111 shares of the financial services provider’s stock worth $1,574,000 after purchasing an additional 1,741 shares in the last quarter. Raymond James Financial Inc. raised its stake in M&T Bank by 1.8% during the first quarter. Raymond James Financial Inc. now owns 117,972 shares of the financial services provider’s stock valued at $21,088,000 after buying an additional 2,111 shares in the last quarter. Ethic Inc. lifted its holdings in M&T Bank by 20.8% during the 2nd quarter. Ethic Inc. now owns 25,741 shares of the financial services provider’s stock worth $4,988,000 after buying an additional 4,432 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in M&T Bank by 3.1% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 463,669 shares of the financial services provider’s stock worth $89,947,000 after buying an additional 13,749 shares during the last quarter. Finally, Applied Finance Capital Management LLC acquired a new position in shares of M&T Bank in the 2nd quarter worth approximately $798,000. Institutional investors own 84.68% of the company’s stock.

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.