M&T Bank Corporation (NYSE:MTB) Stock Has Average Price Target of $250.47 According to Brokerages

M&T Bank Corporation (NYSE:MTB) has earned an average recommendation of “Hold” from the twenty-three research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $250.21.

Several brokerages recently weighed in on MTB. Morgan Stanley cut their price objective on shares of M&T Bank from $304.00 to $301.00 and set an “overweight” rating on the stock in a research report on Monday, September 28th. DA Davidson upped their target price on shares of M&T Bank from $263.00 to $266.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Raymond James Financial started coverage on shares of M&T Bank in a research report on Tuesday. They issued an “outperform” rating and a $250.00 target price for the company. Keefe, Bruyette & Woods raised their price target on shares of M&T Bank from $242.00 to $250.00 and gave the company a “market perform” rating in a research note on Thursday, July 16th. Finally, TD Cowen initiated coverage on M&T Bank in a report on Thursday. They set a “hold” rating and a $245.00 price target on the stock.

M&T Bank Stock Performance

Shares of MTB opened at $217.32 on Tuesday. M&T Bank has a 1 year low of $174.76 and a 1 year high of $255.95. The company has a market cap of $31.39 billion, a price-to-earnings ratio of 11.47, a price-to-earnings-growth ratio of 1.23 and a beta of 0.61. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a fifty day moving average of $235.29 and a 200-day moving average of $228.02.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $5.35 EPS for the quarter, topping the consensus estimate of $4.66 by $0.69. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the prior year, the firm earned $4.28 earnings per share. As a group, equities analysts anticipate that M&T Bank will post 19.42 earnings per share for the current year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st were given a dividend of $1.50 per share. The ex-dividend date was Tuesday, September 1st. This represents a $6.00 annualized dividend and a dividend yield of 2.8%. M&T Bank’s payout ratio is currently 31.68%.

Key Stories Impacting M&T Bank

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

• Positive Sentiment: Raymond James initiated coverage with an “outperform” rating and a $250 price target, implying substantial upside from the reference price. The call reflects confidence in M&T Bank’s earnings outlook and valuation. M&T Bank Stock Bumped Up to Moderate Buy by Raymond James Financial
• Positive Sentiment: Zacks said M&T Bank has the key factors needed for a potential earnings beat in its forthcoming report, raising expectations ahead of the release. A stronger-than-expected result could support the shares. M&T Bank Corporation Earnings Expected to Grow
• Neutral Sentiment: TD Cowen began coverage with a “hold” rating and a $245 price target. Although the target indicates potential upside, the neutral recommendation suggests the firm wants to see additional evidence from earnings or operating trends before becoming more constructive.
• Neutral Sentiment: M&T Bank is expected to announce quarterly earnings on Friday, making the report the primary near-term catalyst. Investors will focus on revenue, net interest income, credit quality and management’s outlook. M&T Bank Expected to Announce Earnings on Friday

Insider Buying and Selling

In other M&T Bank news, Director Rudina Seseri sold 623 shares of M&T Bank stock in a transaction on Friday, August 21st. The stock was sold at an average price of $241.04, for a total transaction of $150,167.92. Following the sale, the director owned 3,649 shares of the company’s stock, valued at $879,554.96. The trade was a 14.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Rene F. Jones sold 19,396 shares of M&T Bank stock in a transaction on Monday, September 14th. The shares were sold at an average price of $239.35, for a total value of $4,642,432.60. Following the sale, the chief executive officer directly owned 103,831 shares in the company, valued at $24,851,949.85. The trade was a 15.74% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 20,028 shares of company stock valued at $4,794,884 over the last three months. Corporate insiders own 0.44% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Gilpin Wealth Management LLC acquired a new position in shares of M&T Bank during the third quarter valued at $114,000. Wedmont Private Capital raised its stake in shares of M&T Bank by 7.5% during the third quarter. Wedmont Private Capital now owns 4,734 shares of the financial services provider’s stock valued at $1,030,000 after purchasing an additional 329 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of M&T Bank by 1.9% during the third quarter. GAMMA Investing LLC now owns 6,462 shares of the financial services provider’s stock valued at $1,406,000 after purchasing an additional 119 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in M&T Bank by 9.0% in the third quarter. Farther Finance Advisors LLC now owns 6,724 shares of the financial services provider’s stock worth $1,463,000 after purchasing an additional 554 shares during the period. Finally, Everhart Financial Group Inc. lifted its holdings in M&T Bank by 5.8% in the third quarter. Everhart Financial Group Inc. now owns 2,470 shares of the financial services provider’s stock worth $537,000 after purchasing an additional 135 shares during the period. Institutional investors own 84.68% of the company’s stock.

M&T Bank Company Profile

M&T Bank Corporation is a regional financial services company headquartered in Buffalo, New York. Founded in 1856, the company operates primarily through its M&T Bank subsidiary and serves consumers, businesses, institutions and government entities.

M&T Bank provides a range of banking products and services, including checking and savings accounts, consumer lending, residential mortgages, credit cards, commercial loans, treasury management and investment services. Through its wealth management and institutional businesses, the company also offers trust, investment management, custody and related financial services.

The bank serves customers across a footprint concentrated in the Mid-Atlantic and Northeastern United States, including New York, Pennsylvania, Maryland, New Jersey, Delaware, Virginia, West Virginia and Washington, DC Its businesses also include Wilmington Trust, which provides wealth management, corporate and institutional trust, and related services.

John R.