M&T Bank (NYSE:MTB) Price Target Raised to $208.00

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

A number of other analysts also recently issued reports on the stock. Keefe, Bruyette & Woods raised their price target on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a report on Friday, July 19th. Morgan Stanley raised their price target on shares of M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Wells Fargo & Company downgraded shares of M&T Bank from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $170.00 to $165.00 in a report on Thursday, August 15th. Evercore ISI raised shares of M&T Bank from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $187.00 to $210.00 in a research report on Wednesday, October 2nd. Finally, Jefferies Financial Group increased their price objective on shares of M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $197.47.

M&T Bank Stock Down 2.0 %

Shares of NYSE MTB opened at $193.63 on Friday. The company has a 50 day simple moving average of $173.61 and a 200-day simple moving average of $159.31. The company has a market capitalization of $32.31 billion, a P/E ratio of 13.09, a P/E/G ratio of 3.27 and a beta of 0.75. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 1.00. M&T Bank has a 1 year low of $108.53 and a 1 year high of $200.94.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a $1.35 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a yield of 2.79%. M&T Bank’s dividend payout ratio is presently 36.51%.

Insider Buying and Selling at M&T Bank

In other news, Vice Chairman Gary N. Geisel sold 500 shares of M&T Bank stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total transaction of $86,250.00. Following the completion of the sale, the insider now directly owns 16,429 shares of the company’s stock, valued at approximately $2,834,002.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Vice Chairman Gary N. Geisel sold 500 shares of M&T Bank stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total transaction of $86,250.00. Following the sale, the insider now directly owns 16,429 shares in the company, valued at $2,834,002.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kirk W. Walters sold 2,471 shares of M&T Bank stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.60, for a total transaction of $60,786.60. Following the sale, the director now owns 20,414 shares in the company, valued at $502,184.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,699 shares of company stock valued at $4,943,119 in the last 90 days. Company insiders own 0.82% of the company’s stock.

Institutional Trading of M&T Bank

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC grew its holdings in M&T Bank by 54.4% during the third 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 during the period. Fidelis Capital Partners LLC acquired a new stake in M&T Bank during the 1st quarter valued at $30,000. Oakworth Capital Inc. acquired a new stake in shares of M&T Bank during the second quarter worth $35,000. nVerses Capital LLC acquired a new stake in shares of M&T Bank during the third quarter worth $53,000. Finally, Annapolis Financial Services LLC boosted its holdings in shares of M&T Bank by 150.7% during the third quarter. Annapolis Financial Services LLC now owns 376 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 226 shares during the last quarter. 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.