M&T Bank (NYSE:MTB) Price Target Raised to $225.00

M&T Bank (NYSE:MTB) had its target price hoisted by Citigroup from $215.00 to $225.00 in a report published on Friday morning,MarketScreener reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

A number of other research analysts have also recently commented on MTB. TD Cowen raised their price target on shares of M&T Bank from $235.00 to $245.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Jefferies Financial Group upped their price target on M&T Bank from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Weiss Ratings reissued a “buy (b-)” rating on shares of M&T Bank in a report on Monday, December 29th. Truist Financial downgraded shares of M&T Bank from a “buy” rating to a “hold” rating and set a $217.00 target price on the stock. in a research note on Friday, December 12th. Finally, Wall Street Zen upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. One equities research 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 given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $218.03.

M&T Bank Stock Performance

MTB opened at $204.07 on Friday. The stock’s 50 day simple moving average is $193.61 and its 200-day simple moving average is $193.73. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.49. The stock has a market cap of $31.36 billion, a PE ratio of 12.57, a P/E/G ratio of 0.87 and a beta of 0.59. M&T Bank has a 1 year low of $150.75 and a 1 year high of $208.26.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share (EPS) 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 during the quarter. Sell-side analysts forecast that M&T Bank will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st were given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.9%. The ex-dividend date was Monday, December 1st. M&T Bank’s dividend payout ratio (DPR) is presently 36.95%.

Insider Buying and Selling

In other news, Director Robert E. Sadler, Jr. sold 6,000 shares of the 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 sale, the director directly owned 17,070 shares of the company’s stock, valued at $3,244,324.20. This represents a 26.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Christopher E. Kay sold 5,250 shares of the firm’s stock in a transaction that occurred 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 completion of 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 position. Additional details regarding this sale are available in the official SEC disclosure. 0.53% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On M&T Bank

Several large investors have recently made changes to their positions in the company. Crestwood Advisors Group LLC raised its holdings in M&T Bank by 1.7% during the 2nd quarter. Crestwood Advisors Group LLC now owns 3,237 shares of the financial services provider’s stock worth $628,000 after purchasing an additional 54 shares during the last quarter. Arkadios Wealth Advisors grew its position in shares of M&T Bank by 5.1% during the 2nd quarter. Arkadios Wealth Advisors now owns 1,312 shares of the financial services provider’s stock worth $254,000 after buying an additional 64 shares during the period. Gamco Investors INC. ET AL raised its stake in shares of M&T Bank by 0.3% during the second quarter. Gamco Investors INC. ET AL now owns 20,489 shares of the financial services provider’s stock worth $3,975,000 after buying an additional 67 shares during the last quarter. Wedbush Securities Inc. lifted its holdings in M&T Bank by 3.3% in the third quarter. Wedbush Securities Inc. now owns 2,171 shares of the financial services provider’s stock valued at $429,000 after buying an additional 70 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in M&T Bank by 4.3% in the second quarter. Geneos Wealth Management Inc. now owns 1,727 shares of the financial services provider’s stock valued at $335,000 after buying an additional 71 shares during the period. Institutional investors and hedge funds 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.