Analysts Set M&T Bank Corporation (NYSE:MTB) Price Target at $211.48

Shares of M&T Bank Corporation (NYSE:MTB) have received a consensus rating of “Moderate Buy” from the twenty-one analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $211.48.

Several research firms recently commented on MTB. Truist Financial cut their price target on M&T Bank from $225.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Citigroup increased their target price on M&T Bank from $200.00 to $212.00 and gave the stock a “neutral” rating in a report on Wednesday, July 2nd. Robert W. Baird reduced their target price on M&T Bank from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft raised M&T Bank from a “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a report on Thursday, April 24th. Finally, DA Davidson reduced their target price on M&T Bank from $205.00 to $189.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th.

Insider Transactions at M&T Bank

In related news, Director Robert E. Sadler, Jr. sold 6,700 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $183.52, for a total value of $1,229,584.00. Following the completion of the transaction, the director directly owned 23,070 shares of the company’s stock, valued at $4,233,806.40. This represents a 22.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.53% of the stock is owned by company insiders.

Hedge Funds Weigh In On M&T Bank

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new stake in shares of M&T Bank during the 4th quarter valued at $20,791,000. Raymond James Financial Inc. acquired a new stake in shares of M&T Bank during the 4th quarter valued at $21,783,000. Independent Advisor Alliance lifted its position in shares of M&T Bank by 29.9% during the 4th quarter. Independent Advisor Alliance now owns 2,077 shares of the financial services provider’s stock valued at $391,000 after acquiring an additional 478 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of M&T Bank by 1.9% during the 4th quarter. HighTower Advisors LLC now owns 53,479 shares of the financial services provider’s stock valued at $10,055,000 after acquiring an additional 972 shares during the last quarter. Finally, Wellington Shields & Co. LLC lifted its position in shares of M&T Bank by 5.2% during the 4th quarter. Wellington Shields & Co. LLC now owns 1,966 shares of the financial services provider’s stock valued at $370,000 after acquiring an additional 98 shares during the last quarter. 84.68% of the stock is owned by institutional investors.

M&T Bank Trading Down 2.9%

NYSE:MTB opened at $197.23 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.97 and a current ratio of 0.97. M&T Bank has a one year low of $150.75 and a one year high of $225.70. The business’s 50-day simple moving average is $187.52 and its 200 day simple moving average is $184.21. The stock has a market cap of $31.66 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 1.44 and a beta of 0.63.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing the consensus estimate of $3.41 by ($0.03). M&T Bank had a return on equity of 10.18% and a net margin of 19.86%. The business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the firm posted $3.09 EPS. As a group, sell-side analysts predict that M&T Bank will post 16.57 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 Monday, June 30th. Investors of record on Monday, June 2nd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend was Monday, June 2nd. M&T Bank’s dividend payout ratio (DPR) is 36.17%.

M&T Bank Company Profile

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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.