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

M&T Bank (NYSE:MTB) had its price target hoisted by TD Cowen from $245.00 to $250.00 in a research note published on Wednesday,Benzinga reports. TD Cowen currently has a buy rating on the financial services provider’s stock.

A number of other equities analysts also recently issued reports on MTB. Piper Sandler started coverage on M&T Bank in a research note on Monday, October 6th. They issued an “overweight” rating and a $225.00 price target on the stock. Barclays increased their target price on M&T Bank from $220.00 to $236.00 and gave the company an “equal weight” rating in a report on Monday. Cantor Fitzgerald started coverage on M&T Bank in a research note on Wednesday, September 10th. They set an “overweight” rating and a $228.00 price target for the company. Wolfe Research lowered shares of M&T Bank from an “outperform” rating to a “peer perform” rating in a research report on Wednesday. Finally, UBS Group raised their price objective on shares of M&T Bank from $207.00 to $208.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $221.18.

M&T Bank Stock Performance

Shares of NYSE MTB opened at $211.75 on Wednesday. The firm’s 50-day moving average price is $196.48 and its 200-day moving average price is $194.51. M&T Bank has a 52-week low of $150.75 and a 52-week high of $215.49. The company has a market cap of $32.54 billion, a PE ratio of 13.04, a PEG ratio of 0.94 and a beta of 0.59. 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 (NYSE:MTB) last issued its quarterly earnings data 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 company had revenue of $1.54 billion for the quarter. As a group, analysts anticipate that M&T Bank will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 1st were issued a $1.50 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $6.00 annualized dividend and a yield of 2.8%. M&T Bank’s dividend payout ratio is currently 36.95%.

Insider Transactions at M&T Bank

In other news, Director Robert E. Sadler, Jr. sold 6,000 shares of the business’s 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 $3,244,324.20. The trade was a 26.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christopher E. Kay sold 5,250 shares of the company’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $191.70, for a total value of $1,006,425.00. Following the completion of the transaction, the executive vice president directly owned 5,501 shares of the company’s stock, valued at approximately $1,054,541.70. This trade represents a 48.83% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.53% of the stock is owned by company insiders.

Hedge Funds Weigh In On M&T Bank

A number of hedge funds and other institutional investors have recently modified their holdings of MTB. Goldman Sachs Group Inc. grew its holdings in M&T Bank by 20.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,097,864 shares of the financial services provider’s stock valued at $196,243,000 after buying an additional 187,780 shares in the last quarter. Marshall Wace LLP boosted its stake in 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 buying an additional 33,920 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its position in M&T Bank by 3.1% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 463,669 shares of the financial services provider’s stock valued at $89,947,000 after acquiring an additional 13,749 shares during the last quarter. Canoe Financial LP increased its position in 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 valued at $85,704,000 after acquiring an additional 138,173 shares during the last quarter. Finally, RNC Capital Management LLC raised its stake in shares of M&T Bank by 0.3% in the second quarter. RNC Capital Management LLC now owns 363,058 shares of the financial services provider’s stock valued at $70,430,000 after acquiring an additional 1,058 shares during the period. Institutional investors own 84.68% of the company’s stock.

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.