M&T Bank (NYSE:MTB) Price Target Raised to $216.00

M&T Bank (NYSE:MTB) had its target price upped by The Goldman Sachs Group from $190.00 to $216.00 in a report released on Friday morning, MarketBeat Ratings reports. The Goldman Sachs Group currently has a neutral rating on the financial services provider’s stock.

Other equities analysts have also issued research reports about the stock. Wells Fargo & Company lowered shares of M&T Bank from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $170.00 to $165.00 in a research report on Thursday, August 15th. DA Davidson increased their target price on shares of M&T Bank from $159.00 to $185.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Piper Sandler raised their price target on shares of M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. Evercore ISI upgraded M&T Bank from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $187.00 to $210.00 in a research note on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods increased their price objective on M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a report on Friday, July 19th. One 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $196.18.

M&T Bank Stock Performance

MTB stock opened at $197.55 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.44. The firm has a market cap of $32.96 billion, a PE ratio of 13.36, a P/E/G ratio of 3.27 and a beta of 0.75. The business has a 50 day moving average of $172.93 and a 200-day moving average of $158.92. M&T Bank has a 12-month low of $108.53 and a 12-month high of $200.94.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data 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. 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 the consensus estimate of $2.27 billion. During the same quarter in the prior year, the company earned $5.12 EPS. As a group, sell-side analysts expect that M&T Bank will post 14.16 earnings per share for the current year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.73%. M&T Bank’s dividend payout ratio (DPR) is currently 36.51%.

Insider Buying and Selling

In other news, Vice Chairman Gary N. Geisel sold 500 shares of M&T Bank stock in a transaction dated Wednesday, July 24th. The stock was 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 owns 16,429 shares in the company, valued at approximately $2,834,002.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other M&T Bank news, Director Robert E. Sadler, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total transaction of $172,230.00. Following the sale, the director now 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Gary N. Geisel sold 500 shares of M&T Bank stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total value of $86,250.00. Following the sale, the insider now directly owns 16,429 shares of the company’s stock, valued at approximately $2,834,002.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,699 shares of company stock worth $5,115,349. Corporate insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

Large investors have recently modified their holdings of the company. Fidelis Capital Partners LLC purchased a new stake in shares of M&T Bank in the 1st quarter valued at $30,000. Hexagon Capital Partners LLC boosted its position 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 valued at $34,000 after buying an additional 68 shares during the period. Oakworth Capital Inc. bought a new position in shares of M&T Bank during the second quarter valued at about $35,000. nVerses Capital LLC purchased a new position in shares of M&T Bank in the third quarter worth about $53,000. Finally, Versant Capital Management Inc lifted its stake in shares of M&T Bank by 82.7% in the 2nd quarter. Versant Capital Management Inc now owns 444 shares of the financial services provider’s stock valued at $67,000 after acquiring an additional 201 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.