M&T Bank (NYSE:MTB) Price Target Raised to $244.50 at JPMorgan Chase & Co.

M&T Bank (NYSE:MTB) had its target price raised by JPMorgan Chase & Co. from $217.00 to $244.50 in a research report sent to investors on Monday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the financial services provider’s stock.

Several other analysts have also weighed in on the company. Piper Sandler lifted their price objective on M&T Bank from $225.00 to $235.00 in a report on Friday, January 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of M&T Bank in a research report on Monday, December 29th. Evercore lowered shares of M&T Bank from an “outperform” rating to a “hold” rating and increased their price target for the stock from $210.00 to $225.00 in a research report on Tuesday, January 6th. Barclays lifted their price objective on M&T Bank from $220.00 to $236.00 and gave the company an “equal weight” rating in a report on Monday, January 5th. Finally, Bank of America reissued a “neutral” rating and issued a $225.00 target price on shares of M&T Bank in a report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, M&T Bank currently has an average rating of “Hold” and an average target price of $228.50.

M&T Bank Stock Down 0.7%

NYSE:MTB opened at $236.31 on Monday. The business’s fifty day moving average price is $210.60 and its 200 day moving average price is $197.79. The company has a current ratio of 0.90, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $36.32 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 1.04 and a beta of 0.60. M&T Bank has a 1-year low of $150.75 and a 1-year high of $238.55.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.72 earnings per share for the quarter, topping analysts’ consensus estimates of $4.47 by $0.25. The company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.47 billion. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.During the same period last year, the business earned $3.77 EPS. On average, sell-side analysts forecast 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 Wednesday, December 31st. Shareholders of record on Monday, December 1st were paid a $1.50 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $6.00 dividend on an annualized basis and a yield of 2.5%. M&T Bank’s payout ratio is currently 35.19%.

Insider Buying and Selling

In other news, Director Robert E. Sadler, Jr. sold 6,000 shares of the firm’s stock in a transaction 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 directly owned 17,070 shares in the company, valued at approximately $3,244,324.20. This trade represents a 26.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kirk W. Walters sold 909 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $227.37, for a total transaction of $206,679.33. Following the transaction, the director owned 5,976 shares in the company, valued at approximately $1,358,763.12. This trade represents a 13.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 30,912 shares of company stock valued at $6,489,862 in the last 90 days. 0.53% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Golden State Wealth Management LLC boosted its position in M&T Bank by 2,214.3% in the 2nd quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock valued at $31,000 after buying an additional 155 shares during the last quarter. Bank of Jackson Hole Trust increased its position in M&T Bank by 342.9% in the third quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 120 shares during the period. Triumph Capital Management bought a new stake in M&T Bank during the 3rd quarter worth about $32,000. Elyxium Wealth LLC acquired a new position in M&T Bank during the 4th quarter valued at about $33,000. Finally, Twin Peaks Wealth Advisors LLC bought a new position in shares of M&T Bank in the 2nd quarter valued at about $36,000. Institutional investors own 84.68% of the company’s stock.

About M&T Bank

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.