M&T Bank (NYSE:MTB) Price Target Cut to $212.00

M&T Bank (NYSE:MTBGet Rating) had its price target trimmed by Morgan Stanley from $225.00 to $212.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Several other analysts have also issued reports on MTB. Keefe, Bruyette & Woods lowered M&T Bank from an outperform rating to a market perform rating and cut their price objective for the stock from $215.00 to $180.00 in a report on Tuesday, December 6th. Wedbush raised M&T Bank from a neutral rating to an outperform rating and set a $170.00 price target on the stock in a research report on Tuesday, January 3rd. Piper Sandler reduced their target price on shares of M&T Bank from $210.00 to $195.00 and set an overweight rating for the company in a research note on Thursday, October 20th. DA Davidson assumed coverage on shares of M&T Bank in a research note on Wednesday, December 21st. They set a neutral rating and a $160.00 price target for the company. Finally, Odeon Capital Group upgraded shares of M&T Bank from a hold rating to a buy rating and set a $171.76 price target for the company in a research note on Tuesday, January 10th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, M&T Bank currently has an average rating of Hold and an average target price of $182.32.

M&T Bank Price Performance

Shares of NYSE MTB opened at $154.76 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.91 and a quick ratio of 0.96. M&T Bank has a 1-year low of $138.43 and a 1-year high of $193.42. The business has a 50-day moving average of $154.00 and a 200-day moving average of $168.54. The company has a market capitalization of $26.71 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 0.86 and a beta of 0.83.

M&T Bank (NYSE:MTBGet Rating) last posted its earnings results on Thursday, January 19th. The financial services provider reported $4.29 EPS for the quarter, missing the consensus estimate of $4.50 by ($0.21). M&T Bank had a net margin of 23.15% and a return on equity of 11.41%. During the same period in the prior year, the business earned $3.37 EPS. On average, equities analysts anticipate that M&T Bank will post 18.24 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Thursday, December 1st were paid a $1.20 dividend. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $4.80 dividend on an annualized basis and a yield of 3.10%. M&T Bank’s dividend payout ratio (DPR) is currently 41.67%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. DAVENPORT & Co LLC grew its stake in M&T Bank by 10.6% in the 4th quarter. DAVENPORT & Co LLC now owns 4,869 shares of the financial services provider’s stock valued at $706,000 after buying an additional 467 shares during the last quarter. Hennessy Advisors Inc. acquired a new position in shares of M&T Bank during the 4th quarter worth approximately $1,886,000. Grandfield & Dodd LLC grew its position in shares of M&T Bank by 3.6% during the 4th quarter. Grandfield & Dodd LLC now owns 133,937 shares of the financial services provider’s stock worth $19,429,000 after purchasing an additional 4,630 shares in the last quarter. Avestar Capital LLC grew its position in shares of M&T Bank by 3.7% during the 4th quarter. Avestar Capital LLC now owns 2,574 shares of the financial services provider’s stock worth $373,000 after purchasing an additional 91 shares in the last quarter. Finally, Sterling Investment Counsel LLC grew its position in shares of M&T Bank by 3.6% during the 4th quarter. Sterling Investment Counsel LLC now owns 2,488 shares of the financial services provider’s stock worth $361,000 after purchasing an additional 86 shares in the last quarter. Institutional investors and hedge funds own 84.10% of the company’s stock.

M&T Bank Company Profile

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M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management and investment services. It operates through the following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.

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