Barclays Raises M&T Bank (NYSE:MTB) Price Target to $228.00

M&T Bank (NYSE:MTB) had its target price boosted by Barclays from $170.00 to $228.00 in a research report released on Friday, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

A number of other research firms also recently weighed in on MTB. DA Davidson boosted their price target on shares of M&T Bank from $159.00 to $185.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Wedbush upped their target price on shares of M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Piper Sandler lifted their price objective on M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. The Goldman Sachs Group upped their price objective on M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a report on Friday. Finally, Morgan Stanley boosted their target price 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and an average price target of $196.18.

M&T Bank Stock Down 0.7 %

NYSE MTB opened at $197.55 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00. M&T Bank has a 52 week low of $108.53 and a 52 week high of $200.94. The stock has a market capitalization of $32.96 billion, a P/E ratio of 13.36, a price-to-earnings-growth ratio of 3.27 and a beta of 0.75. The stock has a fifty day moving average of $172.93 and a 200-day moving average of $158.92.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. The firm had revenue of $3.37 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same period last year, the company earned $5.12 earnings per share. On average, equities research analysts forecast 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 paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s payout ratio is presently 36.51%.

Insiders Place Their Bets

In other news, Director Kirk W. Walters sold 7,464 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $173.97, for a total transaction of $1,298,512.08. Following the completion of the transaction, the director now directly owns 15,045 shares of the company’s stock, valued at $2,617,378.65. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total value of $1,720,300.00. Following the sale, the director now directly owns 44,902 shares in the company, valued at $7,724,491.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kirk W. Walters sold 7,464 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $173.97, for a total transaction of $1,298,512.08. Following the transaction, the director now owns 15,045 shares of the company’s stock, valued at $2,617,378.65. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,699 shares of company stock worth $5,115,349. Corporate insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP boosted its stake in shares of M&T Bank by 232.1% during the 2nd quarter. Marshall Wace LLP now owns 676,745 shares of the financial services provider’s stock worth $102,432,000 after buying an additional 472,997 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in M&T Bank by 77.0% during the second quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock valued at $110,993,000 after purchasing an additional 319,051 shares during the last quarter. Vest Financial LLC bought a new position in M&T Bank in the first quarter valued at approximately $18,147,000. Dimensional Fund Advisors LP increased its position in shares of M&T Bank by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock worth $244,129,000 after purchasing an additional 93,113 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in shares of M&T Bank by 195.1% during the 1st quarter. National Bank of Canada FI now owns 126,773 shares of the financial services provider’s stock worth $19,480,000 after purchasing an additional 83,814 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

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.