M&T Bank (NYSE:MTB) Receives “In-Line” Rating from Evercore ISI

Evercore ISI restated their in-line rating on shares of M&T Bank (NYSE:MTB) in a research report sent to investors on Tuesday,Benzinga reports. Evercore ISI currently has a $225.00 price objective on the financial services provider’s stock, up from their previous price objective of $210.00.

A number of other research firms have also commented on MTB. Citigroup boosted their price target on shares of M&T Bank from $215.00 to $225.00 and gave the company a “neutral” rating in a research report on Friday, January 2nd. Cowen restated a “buy” rating on shares of M&T Bank in a research report on Monday, October 20th. Barclays raised their price target on M&T Bank from $220.00 to $236.00 and gave the company an “equal weight” rating in a report on Monday. Truist Financial lowered M&T Bank from a “buy” rating to a “hold” rating and set a $217.00 price objective for the company. in a report on Friday, December 12th. Finally, Piper Sandler started coverage on shares of M&T Bank in a research report on Monday, October 6th. They issued an “overweight” rating and a $225.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $220.69.

M&T Bank Trading Up 0.8%

Shares of MTB opened at $211.09 on Tuesday. M&T Bank has a twelve month low of $150.75 and a twelve month high of $211.99. The stock has a market cap of $32.44 billion, a PE ratio of 13.00, a P/E/G ratio of 0.89 and a beta of 0.59. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.49. The business’s 50-day moving average price is $194.73 and its 200-day moving average price is $194.11.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Wednesday, March 9th. The financial services provider reported $3.54 EPS for the quarter. The company had revenue of $1.54 billion during the quarter. M&T Bank had a net margin of 20.91% and a return on equity of 10.62%. On average, equities analysts forecast that M&T Bank will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 1st were issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, December 1st. M&T Bank’s dividend payout ratio (DPR) is currently 36.95%.

Insider Activity at M&T Bank

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $190.06, for a total value of $1,140,360.00. Following the completion of the sale, the director owned 17,070 shares of the company’s stock, valued at $3,244,324.20. This represents a 26.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christopher E. Kay sold 5,250 shares of M&T Bank stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $191.70, for a total transaction of $1,006,425.00. Following the transaction, the executive vice president directly owned 5,501 shares in the company, valued at $1,054,541.70. This trade represents a 48.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.53% of the stock is owned by corporate insiders.

Institutional Trading of M&T Bank

Several hedge funds have recently added to or reduced their stakes in the business. Ransom Advisory Ltd grew its stake in shares of M&T Bank by 2.0% during the fourth quarter. Ransom Advisory Ltd now owns 2,513 shares of the financial services provider’s stock valued at $506,000 after buying an additional 50 shares during the last quarter. GAMMA Investing LLC boosted its holdings in M&T Bank by 2.8% during the 4th quarter. GAMMA Investing LLC now owns 5,556 shares of the financial services provider’s stock valued at $1,119,000 after acquiring an additional 153 shares during the period. Triumph Capital Management purchased a new stake in M&T Bank during the 3rd quarter valued at about $32,000. Sunbelt Securities Inc. grew its position in M&T Bank by 13.1% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,619 shares of the financial services provider’s stock worth $320,000 after acquiring an additional 188 shares during the last quarter. Finally, Danske Bank A S purchased a new position in M&T Bank in the 3rd quarter worth approximately $29,612,000. 84.68% of the stock is owned by institutional investors.

M&T Bank Company Profile

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.