M&T Bank (NYSE:MTB) Price Target Raised to $232.00

M&T Bank (NYSE:MTB) had its price objective upped by Evercore ISI from $210.00 to $232.00 in a research report released on Wednesday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the financial services provider’s stock.

Several other research analysts have also commented on the company. Wells Fargo & Company boosted their price target on M&T Bank from $165.00 to $190.00 and gave the stock an “underweight” rating in a research report on Friday, October 18th. Piper Sandler boosted their price target on M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. The Goldman Sachs Group upped their target price on M&T Bank from $190.00 to $216.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Citigroup upped their price target on M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, Barclays upped their price target on M&T Bank from $170.00 to $228.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, M&T Bank currently has a consensus rating of “Hold” and an average price target of $198.76.

M&T Bank Price Performance

MTB opened at $197.49 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 0.94 and a debt-to-equity ratio of 0.44. The business has a fifty day moving average of $178.22 and a 200 day moving average of $161.98. The stock has a market cap of $32.95 billion, a P/E ratio of 13.35, a PEG ratio of 2.75 and a beta of 0.75. M&T Bank has a 52-week low of $111.08 and a 52-week high of $200.94.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s dividend payout ratio is currently 36.51%.

Insider Buying and Selling

In related news, EVP John R. Taylor sold 1,436 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $195.03, for a total transaction of $280,063.08. Following the transaction, the executive vice president now owns 5,618 shares of the company’s stock, valued at $1,095,678.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, EVP John R. Taylor sold 1,436 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $195.03, for a total transaction of $280,063.08. Following the transaction, the executive vice president now owns 5,618 shares of the company’s stock, valued at $1,095,678.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Rene F. Jones sold 23,071 shares of M&T Bank stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $193.88, for a total value of $4,473,005.48. Following the completion of the sale, the chief executive officer now directly owns 77,226 shares in the company, valued at $14,972,576.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,234 shares of company stock valued at $12,190,627 over the last quarter. 0.82% of the stock is currently owned by insiders.

Institutional Investors Weigh In On M&T Bank

A number of institutional investors and hedge funds have recently bought and sold shares of MTB. Massachusetts Financial Services Co. MA raised its position in shares of M&T Bank by 4.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock worth $269,696,000 after buying an additional 81,004 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of M&T Bank by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock valued at $244,129,000 after acquiring an additional 93,113 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of M&T Bank by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 1,513,452 shares of the financial services provider’s stock valued at $229,076,000 after acquiring an additional 44,442 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in M&T Bank by 3.2% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,398,199 shares of the financial services provider’s stock worth $211,631,000 after purchasing an additional 43,795 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in M&T Bank by 77.0% in the second quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock worth $110,993,000 after purchasing an additional 319,051 shares in the last quarter. 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.