M&T Bank (NYSE:MTB) Price Target Raised to $238.00 at Cantor Fitzgerald

M&T Bank (NYSE:MTBFree Report) had its target price upped by Cantor Fitzgerald from $228.00 to $238.00 in a research note released on Friday morning,MarketScreener reports. Cantor Fitzgerald currently has an overweight rating on the financial services provider’s stock.

Several other research firms also recently weighed in on MTB. Wall Street Zen raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of M&T Bank in a research note on Monday, December 29th. Truist Financial cut M&T Bank from a “buy” rating to a “hold” rating and set a $217.00 price objective for the company. in a research note on Friday, December 12th. UBS Group upped their target price on M&T Bank from $207.00 to $208.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Finally, Wolfe Research downgraded shares of M&T Bank from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 7th. One research 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 assigned a Sell rating to the stock. According to MarketBeat.com, M&T Bank has an average rating of “Hold” and a consensus target price of $223.55.

Read Our Latest Stock Analysis on MTB

M&T Bank Trading Up 0.0%

Shares of NYSE MTB traded up $0.02 during midday trading on Friday, reaching $212.59. The stock had a trading volume of 1,838,964 shares, 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 company has a debt-to-equity ratio of 0.49, a quick ratio of 0.97 and a current ratio of 0.97. The company’s 50 day moving average price is $199.27 and its 200 day moving average price is $195.14. The firm has a market cap of $32.67 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 0.94 and a beta of 0.59.

M&T Bank (NYSE:MTBGet Free Report) last released its earnings results on Friday, January 16th. The financial services provider reported $4.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.47 by $0.25. M&T Bank had a net margin of 20.91% and a return on equity of 10.62%. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the previous year, the business earned $3.77 earnings per share. As a group, sell-side analysts expect that M&T Bank will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently disclosed 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 (DPR) is 35.19%.

Insider Transactions at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 5,250 shares of the business’s stock in a transaction on 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 owned 5,501 shares of the company’s stock, valued at $1,054,541.70. The trade was a 48.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert E. Sadler, Jr. sold 6,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the director directly owned 17,070 shares of the company’s stock, valued at $3,244,324.20. The trade was a 26.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.53% of the stock is owned by company insiders.

Institutional Investors Weigh In On M&T Bank

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Canoe Financial LP grew its position in M&T Bank by 50.5% during the 4th quarter. Canoe Financial LP now owns 652,744 shares of the financial services provider’s stock worth $131,515,000 after acquiring an additional 219,065 shares during the last quarter. Marshall Wace LLP boosted 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 valued at $113,375,000 after purchasing an additional 33,920 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of M&T Bank by 3.1% in the second 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. RNC Capital Management LLC increased 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 worth $70,430,000 after buying an additional 1,058 shares during the period. Finally, LSV Asset Management raised its holdings in M&T Bank by 19.9% during the 3rd quarter. LSV Asset Management now owns 342,400 shares of the financial services provider’s stock valued at $67,665,000 after buying an additional 56,750 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank News Summary

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

M&T Bank Company Profile

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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.

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

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