M&T Bank (NYSE:MTB) Price Target Raised to $235.00 at Piper Sandler

M&T Bank (NYSE:MTBFree Report) had its price objective lifted by Piper Sandler from $225.00 to $235.00 in a report released on Friday morning,MarketScreener reports.

Other equities research analysts have also issued reports about the company. Royal Bank Of Canada boosted their target price on M&T Bank from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday. Keefe, Bruyette & Woods lifted their price objective on M&T Bank from $220.00 to $230.00 and gave the company a “market perform” rating in a research report on Wednesday, December 17th. Evercore ISI downgraded shares of M&T Bank from an “outperform” rating to a “hold” rating and increased their target price for the stock from $210.00 to $225.00 in a research report on Tuesday, January 6th. The Goldman Sachs Group reiterated a “neutral” rating and set a $230.00 price target on shares of M&T Bank in a research note on Tuesday, January 6th. Finally, Wolfe Research downgraded M&T Bank from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, M&T Bank presently has an average rating of “Hold” and an average target price of $223.55.

Check Out Our Latest Stock Analysis on MTB

M&T Bank Stock Performance

Shares of MTB traded up $0.02 during trading hours on Friday, reaching $212.59. 1,838,964 shares of the company’s stock traded hands, compared to its average volume of 902,166. M&T Bank has a twelve month low of $150.75 and a twelve month high of $215.71. The business’s fifty day simple moving average is $199.27 and its two-hundred day simple moving average is $195.14. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $32.67 billion, a price-to-earnings ratio of 12.47, a P/E/G ratio of 0.94 and a beta of 0.59.

M&T Bank (NYSE:MTBGet Free Report) last posted its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.72 EPS for the quarter, topping analysts’ consensus estimates of $4.47 by $0.25. M&T Bank had a return on equity of 10.62% and a net margin of 20.91%.The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the previous year, the business earned $3.77 EPS. Analysts predict that M&T Bank will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st were paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.8%. The ex-dividend date was Monday, December 1st. M&T Bank’s dividend payout ratio is currently 35.19%.

Insiders Place Their Bets

In other M&T Bank news, EVP Christopher E. Kay sold 5,250 shares of the company’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $191.70, for a total transaction of $1,006,425.00. Following the sale, the executive vice president directly owned 5,501 shares of the company’s stock, valued at approximately $1,054,541.70. This represents a 48.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert E. Sadler, Jr. sold 6,000 shares of M&T Bank stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $190.06, for a total transaction of $1,140,360.00. Following the completion of the transaction, the director owned 17,070 shares of the company’s stock, valued at $3,244,324.20. This trade represents a 26.01% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.53% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On M&T Bank

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Canoe Financial LP raised its stake in shares of M&T Bank by 46.8% during the third quarter. Canoe Financial LP now owns 433,679 shares of the financial services provider’s stock worth $85,704,000 after buying an additional 138,173 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its position in shares of M&T Bank by 27.3% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 8,111 shares of the financial services provider’s stock valued at $1,574,000 after acquiring an additional 1,741 shares during the last quarter. Ethic Inc. lifted its stake in shares of M&T Bank by 20.8% in the 2nd quarter. Ethic Inc. now owns 25,741 shares of the financial services provider’s stock valued at $4,988,000 after purchasing an additional 4,432 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of M&T Bank by 3.1% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 463,669 shares of the financial services provider’s stock worth $89,947,000 after purchasing an additional 13,749 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in shares of M&T Bank by 6.2% during the second quarter. Marshall Wace LLP now owns 584,438 shares of the financial services provider’s stock worth $113,375,000 after purchasing an additional 33,920 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

M&T Bank News Roundup

Here are the key news stories impacting M&T Bank this week:

M&T Bank Company Profile

(Get Free Report)

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.

Featured Stories

Analyst Recommendations for M&T Bank (NYSE:MTB)

Receive News & Ratings for M&T Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M&T Bank and related companies with MarketBeat.com's FREE daily email newsletter.