DA Davidson Boosts M&T Bank (NYSE:MTB) Price Target to $207.00

M&T Bank (NYSE:MTB) had its price target boosted by DA Davidson from $192.00 to $207.00 in a research report report published on Monday, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock. DA Davidson also issued estimates for M&T Bank’s Q4 2024 earnings at $3.78 EPS, FY2024 earnings at $14.48 EPS and FY2025 earnings at $16.36 EPS.

MTB has been the subject of a number of other reports. Citigroup increased their price target on M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Piper Sandler increased their target price on shares of M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Wedbush boosted their price target on shares of M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Wolfe Research upgraded shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective for the company in a research note on Friday, October 4th. Finally, Bank of America boosted their target price on M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, M&T Bank currently has an average rating of “Hold” and an average target price of $197.47.

M&T Bank Stock Performance

Shares of MTB opened at $194.50 on Monday. The firm has a market capitalization of $32.45 billion, a P/E ratio of 13.15, a P/E/G ratio of 3.27 and a beta of 0.75. M&T Bank has a 52 week low of $108.53 and a 52 week high of $200.94. The stock has a 50 day moving average price of $174.96 and a two-hundred day moving average price of $159.94. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.78%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s payout ratio is 36.51%.

Insider Activity

In related news, Director John P. Barnes sold 20,000 shares of M&T Bank stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $193.97, for a total transaction of $3,879,400.00. Following the completion of the sale, the director now owns 49,960 shares of the company’s stock, valued at approximately $9,690,741.20. This trade 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 accessible through the SEC website. In related news, Director John P. Barnes sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $193.97, for a total value of $3,879,400.00. Following the transaction, the director now directly owns 49,960 shares in the company, valued at approximately $9,690,741.20. This 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 accessible through the SEC website. Also, Director Denis J. Salamone sold 10,000 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 44,902 shares in the company, valued at $7,724,491.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,735 shares of company stock worth $7,437,757 in the last three months. Corporate insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

A number of large investors have recently modified their holdings of the company. Ontario Teachers Pension Plan Board raised its stake in shares of 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 acquiring an additional 3,739 shares in the last quarter. Leuthold Group LLC purchased a new position in M&T Bank in the 1st quarter worth $3,125,000. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in M&T Bank by 7.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 497,503 shares of the financial services provider’s stock worth $72,357,000 after purchasing an additional 35,692 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in M&T Bank by 5.9% during the first 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 buying an additional 18,566 shares during the period. Finally, Gateway Investment Advisers LLC grew its stake in shares of M&T Bank by 60.0% during the second quarter. Gateway Investment Advisers LLC now owns 32,799 shares of the financial services provider’s stock valued at $4,964,000 after buying an additional 12,304 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

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.