M&T Bank (NYSE:MTB) Price Target Raised to $271.00

M&T Bank (NYSE:MTB) had its price objective raised by Morgan Stanley from $251.00 to $271.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Other analysts also recently issued reports about the company. Cantor Fitzgerald raised their target price on M&T Bank from $228.00 to $238.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Piper Sandler raised their price objective on M&T Bank from $225.00 to $235.00 in a research note on Friday, January 16th. UBS Group lifted their price objective on M&T Bank from $217.00 to $230.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. Truist Financial set a $230.00 target price on M&T Bank in a research note on Tuesday, January 20th. Finally, Jefferies Financial Group lifted their price target on shares of M&T Bank from $250.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, M&T Bank has an average rating of “Hold” and an average target price of $232.34.

M&T Bank Stock Performance

Shares of MTB stock opened at $219.34 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.41. The stock has a 50 day simple moving average of $218.92 and a 200-day simple moving average of $202.07. The company has a market cap of $32.68 billion, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 0.96 and a beta of 0.58. M&T Bank has a 12-month low of $150.75 and a 12-month high of $239.00.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.72 EPS for the quarter, beating the consensus estimate of $4.47 by $0.25. The firm had revenue of $1.79 billion during 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 business earned $3.77 earnings per share. On average, equities analysts forecast that M&T Bank will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 2nd will be given a dividend of $1.50 per share. The ex-dividend date is Monday, March 2nd. This represents a $6.00 annualized dividend and a dividend yield of 2.7%. M&T Bank’s dividend payout ratio (DPR) is 35.19%.

Insider Buying and Selling at M&T Bank

In other news, Director John P. Barnes sold 21,193 shares of the company’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $235.85, for a total value of $4,998,369.05. Following the transaction, the director owned 15,142 shares in the company, valued at $3,571,240.70. This represents a 58.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael A. Wisler sold 8,237 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $223.48, for a total transaction of $1,840,804.76. Following the completion of the transaction, the executive vice president owned 4,643 shares in the company, valued at approximately $1,037,617.64. This represents a 63.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 49,092 shares of company stock valued at $11,182,250. 0.53% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On M&T Bank

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Golden State Wealth Management LLC raised its stake in shares of M&T Bank by 2,214.3% in the 2nd quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 155 shares in the last quarter. Bank of Jackson Hole Trust raised its position in shares of M&T Bank by 342.9% in the third quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 120 shares during the period. Triumph Capital Management acquired a new stake in shares of M&T Bank in the third quarter worth $32,000. Elyxium Wealth LLC bought a new stake in shares of M&T Bank during the 4th quarter worth $33,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in M&T Bank in the 2nd quarter valued at $36,000. 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.