M&T Bank (NYSE:MTB) Price Target Raised to $179.00

M&T Bank (NYSE:MTBFree Report) had its price objective upped by Morgan Stanley from $160.00 to $179.00 in a report issued on Wednesday, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other analysts have also recently weighed in on the company. Piper Sandler reduced their price target on M&T Bank from $156.00 to $152.00 and set an overweight rating on the stock in a report on Friday, January 19th. DA Davidson reduced their price target on M&T Bank from $163.00 to $159.00 and set a neutral rating on the stock in a report on Friday, January 19th. UBS Group upped their target price on M&T Bank from $139.00 to $154.00 in a report on Wednesday, January 17th. Wedbush reduced their target price on M&T Bank from $147.00 to $140.00 and set an outperform rating on the stock in a report on Thursday, October 19th. Finally, Jefferies Financial Group reduced their target price on M&T Bank from $136.00 to $130.00 in a report on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $149.71.

Get Our Latest Stock Report on M&T Bank

M&T Bank Stock Performance

M&T Bank stock opened at $130.47 on Wednesday. M&T Bank has a 12-month low of $108.53 and a 12-month high of $161.99. The company has a quick ratio of 0.98, a current ratio of 0.93 and a debt-to-equity ratio of 0.33. The business’s 50-day moving average price is $136.31 and its two-hundred day moving average price is $129.40. The stock has a market cap of $21.65 billion, a PE ratio of 8.27, a P/E/G ratio of 1.14 and a beta of 0.80.

M&T Bank (NYSE:MTBGet Free Report) last released its earnings results on Thursday, January 18th. The financial services provider reported $2.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.36). M&T Bank had a net margin of 21.49% and a return on equity of 11.59%. The business had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the prior year, the firm earned $4.57 EPS. As a group, analysts expect that M&T Bank will post 14.34 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 1st were paid a $1.30 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $5.20 dividend on an annualized basis and a yield of 3.99%. M&T Bank’s dividend payout ratio (DPR) is presently 32.95%.

Insider Buying and Selling at M&T Bank

In other news, Director Kirk W. Walters sold 29,004 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $130.00, for a total transaction of $3,770,520.00. Following the completion of the transaction, the director now owns 7,088 shares in the company, valued at approximately $921,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Kirk W. Walters sold 29,004 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $130.00, for a total transaction of $3,770,520.00. Following the completion of the transaction, the director now owns 7,088 shares in the company, valued at approximately $921,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Doris P. Meister sold 1,000 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $132.30, for a total value of $132,300.00. Following the transaction, the executive vice president now owns 7,274 shares of the company’s stock, valued at approximately $962,350.20. The disclosure for this sale can be found here. Insiders sold 80,122 shares of company stock worth $10,561,048 in the last quarter. 0.97% of the stock is currently owned by company insiders.

Institutional Trading of M&T Bank

Institutional investors have recently added to or reduced their stakes in the stock. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of M&T Bank by 8.3% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,985 shares of the financial services provider’s stock valued at $504,000 after acquiring an additional 305 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of M&T Bank in the 3rd quarter valued at about $299,000. Metis Global Partners LLC raised its holdings in shares of M&T Bank by 15.2% in the 3rd quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider’s stock valued at $893,000 after acquiring an additional 931 shares in the last quarter. LPL Financial LLC raised its holdings in shares of M&T Bank by 14.4% in the 2nd quarter. LPL Financial LLC now owns 96,133 shares of the financial services provider’s stock valued at $11,897,000 after acquiring an additional 12,116 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of M&T Bank by 6.7% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 156,093 shares of the financial services provider’s stock valued at $19,738,000 after acquiring an additional 9,790 shares in the last quarter. Hedge funds and other institutional investors own 82.86% of the company’s stock.

About M&T Bank

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M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that offer retail and commercial banking products and services in the United States. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals.

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Analyst Recommendations for M&T Bank (NYSE:MTB)

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