M&T Bank (NYSE:MTB) Price Target Raised to $255.00

M&T Bank (NYSE:MTB) had its target price lifted by Cantor Fitzgerald from $238.00 to $255.00 in a research report sent to investors on Tuesday,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the financial services provider’s stock.

Other equities analysts also recently issued reports about the company. UBS Group boosted their price objective on M&T Bank from $217.00 to $230.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. TD Cowen reiterated a “buy” rating on shares of M&T Bank in a research report on Wednesday, January 7th. Bank of America reissued a “neutral” rating and set a $225.00 price target on shares of M&T Bank in a report on Wednesday, January 7th. Piper Sandler lifted their price objective on shares of M&T Bank from $225.00 to $235.00 in a research note on Friday, January 16th. Finally, Jefferies Financial Group increased their target price on shares of M&T Bank from $250.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, M&T Bank presently has an average rating of “Hold” and an average price target of $232.34.

M&T Bank Stock Performance

Shares of MTB opened at $215.95 on Tuesday. The firm has a fifty day moving average of $219.10 and a 200-day moving average of $202.16. The company has a market cap of $32.18 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 0.96 and a beta of 0.58. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.96 and a current ratio of 0.96. M&T Bank has a 1 year low of $150.75 and a 1 year high of $239.00.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.72 earnings per share for the quarter, topping analysts’ consensus estimates of $4.47 by $0.25. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $2.47 billion. M&T Bank had a net margin of 21.55% and a return on equity of 10.94%. During the same quarter last year, the company earned $3.77 EPS. As a group, equities analysts anticipate that M&T Bank will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 2nd will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $6.00 annualized dividend and a dividend yield of 2.8%. M&T Bank’s dividend payout ratio (DPR) is currently 35.19%.

Insider Buying and Selling

In other news, Vice Chairman Gary N. Geisel sold 887 shares of the company’s stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $215.79, for a total transaction of $191,405.73. Following the completion of the sale, the insider directly owned 16,446 shares of the company’s stock, valued at $3,548,882.34. This represents a 5.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kirk W. Walters sold 909 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $227.37, for a total value of $206,679.33. Following the completion of the transaction, the director owned 5,976 shares of the company’s stock, valued at $1,358,763.12. This trade represents a 13.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 49,092 shares of company stock valued at $11,182,250 over the last ninety days. 0.53% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On M&T Bank

Large investors have recently made changes to their positions in the company. SHP Wealth Management acquired a new position in M&T Bank in the 4th quarter worth approximately $183,000. Tobam acquired a new stake in shares of M&T Bank in the fourth quarter worth $567,000. Virtu Financial LLC acquired a new stake in shares of M&T Bank in the fourth quarter worth $708,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of M&T Bank during the fourth quarter valued at $200,000. Finally, Quantitative Investment Management LLC acquired a new position in M&T Bank during the fourth quarter valued at $1,769,000. 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.