M&T Bank (NYSE:MTB) Price Target Raised to $210.00

M&T Bank (NYSE:MTB) had its price objective raised by Wedbush from $208.00 to $210.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock. Wedbush also issued estimates for M&T Bank’s Q3 2024 earnings at $3.61 EPS, Q4 2024 earnings at $3.69 EPS, FY2024 earnings at $14.20 EPS, Q1 2025 earnings at $3.55 EPS, Q2 2025 earnings at $3.96 EPS, Q3 2025 earnings at $4.19 EPS, Q4 2025 earnings at $4.30 EPS, FY2025 earnings at $16.00 EPS and FY2026 earnings at $17.85 EPS.

Other research analysts have also recently issued reports about the stock. DA Davidson increased their price target on shares of M&T Bank from $159.00 to $185.00 and gave the stock a neutral rating in a report on Friday, July 19th. StockNews.com raised shares of M&T Bank from a sell rating to a hold rating in a report on Friday, July 19th. Keefe, Bruyette & Woods increased 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. Jefferies Financial Group increased their price target on shares of M&T Bank from $160.00 to $161.00 and gave the stock a hold rating in a report on Wednesday, July 3rd. Finally, Royal Bank of Canada increased their target price on shares of M&T Bank from $160.00 to $174.00 and gave the company an outperform rating in a report on Friday, July 19th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, M&T Bank currently has an average rating of Hold and an average price target of $178.35.

M&T Bank Price Performance

Shares of NYSE:MTB opened at $175.38 on Tuesday. The company has a 50-day simple moving average of $168.40 and a 200-day simple moving average of $154.33. M&T Bank has a one year low of $108.53 and a one year high of $180.63. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $29.26 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 3.55 and a beta of 0.76.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. The business had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $2.27 billion. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. During the same period in the prior year, the company earned $5.12 earnings per share. On average, analysts predict that M&T Bank will post 14.23 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be given a dividend of $1.35 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 3.08%. M&T Bank’s dividend payout ratio (DPR) is currently 36.51%.

Insider Buying and Selling

In related news, Director Robert E. Sadler, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were 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. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other M&T Bank news, Director Robert E. Sadler, Jr. sold 1,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total transaction of $172,230.00. Following the transaction, the director now owns 31,796 shares of the company’s stock, valued at $5,476,225.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Denis J. Salamone sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the transaction, the director now directly owns 44,902 shares in the company, valued at approximately $7,724,491.06. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,699 shares of company stock worth $5,115,349. 0.82% of the stock is owned by insiders.

Hedge Funds Weigh In On M&T Bank

Large investors have recently bought and sold shares of the stock. Ontario Teachers Pension Plan Board raised its stake in M&T Bank by 43.1% during the first quarter. Ontario Teachers Pension Plan Board now owns 12,423 shares of the financial services provider’s stock worth $1,807,000 after purchasing an additional 3,739 shares during the period. Leuthold Group LLC purchased a new position in shares of M&T Bank in the 1st quarter valued at $3,125,000. Rafferty Asset Management LLC raised its stake in shares of M&T Bank by 72.1% in the 4th quarter. Rafferty Asset Management LLC now owns 239,934 shares of the financial services provider’s stock valued at $32,890,000 after acquiring an additional 100,526 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of M&T Bank by 7.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 497,503 shares of the financial services provider’s stock valued at $72,357,000 after acquiring an additional 35,692 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of M&T Bank by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 331,868 shares of the financial services provider’s stock valued at $48,267,000 after acquiring an additional 18,566 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

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.