M&T Bank (NYSE:MTB) Price Target Raised to $250.00

M&T Bank (NYSE:MTB) had its price objective increased by Compass Point from $220.00 to $250.00 in a report released on Tuesday,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Other equities research analysts have also recently issued research reports about the stock. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Evercore ISI upped their target price on shares of M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods raised their price target on M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Wedbush upped their price objective on M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Finally, The Goldman Sachs Group lifted their target price on M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, M&T Bank has a consensus rating of “Hold” and a consensus price target of $211.58.

M&T Bank Trading Down 1.0 %

M&T Bank stock opened at $199.90 on Tuesday. The stock has a market capitalization of $33.17 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 2.96 and a beta of 0.76. The business’s fifty day moving average is $202.08 and its 200 day moving average is $175.20. M&T Bank has a one year low of $128.31 and a one year high of $225.70. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.60 by $0.48. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.30 billion. On average, sell-side analysts predict that M&T Bank will post 14.63 EPS for the current year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be issued a $1.35 dividend. The ex-dividend date is Monday, December 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.70%. M&T Bank’s payout ratio is currently 39.97%.

Insider Transactions at M&T Bank

In other news, EVP John R. Taylor sold 1,436 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $195.03, for a total value of $280,063.08. Following the completion of the sale, the executive vice president now owns 5,618 shares of the company’s stock, valued at $1,095,678.54. This trade represents a 20.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total value of $537,566.10. Following the completion of the sale, the insider now directly owns 16,429 shares of the company’s stock, valued at approximately $3,546,856.81. This represents a 13.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,994 shares of company stock valued at $17,211,278. Company insiders own 0.82% of the company’s stock.

Institutional Trading of M&T Bank

Several large investors have recently added to or reduced their stakes in MTB. FMR LLC lifted its position in M&T Bank by 13.9% during the third quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock valued at $2,199,675,000 after purchasing an additional 1,508,846 shares during the period. State Street Corp raised its stake in shares of M&T Bank by 6.4% during the 3rd quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock valued at $1,562,725,000 after buying an additional 527,854 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of M&T Bank by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock valued at $897,216,000 after buying an additional 190,837 shares during the period. Geode Capital Management LLC boosted its stake in shares of M&T Bank by 1.6% in the third quarter. Geode Capital Management LLC now owns 4,329,814 shares of the financial services provider’s stock worth $768,824,000 after buying an additional 66,337 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in M&T Bank by 4.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock worth $269,696,000 after acquiring an additional 81,004 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.