M&T Bank (NYSE:MTB) Price Target Raised to $208.00 at UBS Group

M&T Bank (NYSE:MTB) had its price target increased by UBS Group from $207.00 to $208.00 in a research note released on Tuesday, MarketBeat Ratings reports. They currently have a neutral rating on the financial services provider’s stock.

A number of other equities analysts have also recently commented on the stock. Jefferies Financial Group lifted their target price on shares of M&T Bank from $220.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Cantor Fitzgerald initiated coverage on shares of M&T Bank in a research note on Wednesday, September 10th. They issued an “overweight” rating and a $228.00 price objective on the stock. DA Davidson boosted their price objective on shares of M&T Bank from $189.00 to $207.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of M&T Bank in a research note on Saturday, September 27th. Finally, Morgan Stanley boosted their price objective on shares of M&T Bank from $206.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, June 20th. Thirteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $216.18.

M&T Bank Stock Down 0.2%

Shares of NYSE:MTB opened at $189.69 on Tuesday. The company has a market capitalization of $29.64 billion, a PE ratio of 12.29, a P/E/G ratio of 0.93 and a beta of 0.62. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.47. M&T Bank has a twelve month low of $150.75 and a twelve month high of $225.70. The firm has a 50 day simple moving average of $195.38 and a 200-day simple moving average of $186.07.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share for the quarter, topping the consensus estimate of $4.04 by $0.24. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.39 billion. M&T Bank had a net margin of 20.44% and a return on equity of 10.35%. During the same quarter in the previous year, the firm earned $3.73 EPS. On average, equities analysts predict that M&T Bank will post 16.57 EPS for the current fiscal year.

M&T Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Tuesday, September 2nd. This is an increase from M&T Bank’s previous quarterly dividend of $1.35. M&T Bank’s payout ratio is presently 38.86%.

Insiders Place Their Bets

In related news, Director Richard H. Jr. Ledgett sold 1,277 shares of the business’s stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $197.48, for a total value of $252,181.96. Following the sale, the director directly owned 4,881 shares in the company, valued at $963,899.88. The trade was a 20.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John P. Barnes sold 15,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $199.79, for a total transaction of $2,996,850.00. Following the completion of the sale, the director owned 17,866 shares in the company, valued at $3,569,448.14. This represents a 45.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,738 shares of company stock worth $3,734,612. Corporate insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTB. Wealth Preservation Advisors LLC purchased a new position in M&T Bank in the 1st quarter valued at about $25,000. WPG Advisers LLC acquired a new position in shares of M&T Bank during the 1st quarter valued at about $25,000. Golden State Wealth Management LLC increased its stake in shares of M&T Bank by 2,214.3% during 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 during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in shares of M&T Bank during the 2nd quarter valued at about $36,000. Finally, Grove Bank & Trust increased its stake in shares of M&T Bank by 104.6% during the 1st quarter. Grove Bank & Trust now owns 223 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 114 shares during the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

About M&T Bank

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.