M&T Bank (NYSE:MTB) Price Target Raised to $230.00

M&T Bank (NYSE:MTB) had its target price lifted by Keefe, Bruyette & Woods from $220.00 to $230.00 in a report released on Wednesday,Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Several other brokerages have also weighed in on MTB. Cantor Fitzgerald began coverage on M&T Bank in a research report on Wednesday, September 10th. They issued an “overweight” rating and a $228.00 target price on the stock. Piper Sandler began coverage on M&T Bank in a research note on Monday, October 6th. They issued an “overweight” rating and a $225.00 price target for the company. Jefferies Financial Group increased their price objective on M&T Bank from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, December 1st. UBS Group lifted their target price on shares of M&T Bank from $207.00 to $208.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Finally, Cowen restated a “buy” rating on shares of M&T Bank in a research note on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $214.62.

M&T Bank Stock Up 1.1%

MTB stock opened at $205.96 on Wednesday. The company has a 50 day moving average of $189.14 and a two-hundred day moving average of $191.97. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.49. M&T Bank has a 12-month low of $150.75 and a 12-month high of $208.09. The company has a market cap of $31.65 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 0.97 and a beta of 0.61.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share for the quarter. M&T Bank had a net margin of 20.91% and a return on equity of 10.62%. The business had revenue of $1.54 billion for the quarter. On average, equities analysts anticipate that M&T Bank will post 16.57 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 1st will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, December 1st. M&T Bank’s dividend payout ratio (DPR) is 36.95%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Canoe Financial LP boosted its position in shares of M&T Bank by 24,443.7% in the second quarter. Canoe Financial LP now owns 295,506 shares of the financial services provider’s stock valued at $57,325,000 after acquiring an additional 294,302 shares during the period. Goldman Sachs Group Inc. increased its position in M&T Bank by 20.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,097,864 shares of the financial services provider’s stock worth $196,243,000 after acquiring an additional 187,780 shares during the period. Strs Ohio acquired a new position in M&T Bank during the 1st quarter valued at $29,566,000. Danske Bank A S acquired a new position in M&T Bank during the 3rd quarter valued at $29,612,000. Finally, Russell Investments Group Ltd. boosted its holdings in M&T Bank by 94.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 292,839 shares of the financial services provider’s stock valued at $57,879,000 after purchasing an additional 142,593 shares during the period. 84.68% of the stock is owned by institutional investors.

About M&T Bank

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.