M&T Bank (NYSE:MTB) Price Target Raised to $265.00

M&T Bank (NYSE:MTB) had its target price upped by Jefferies Financial Group from $255.00 to $265.00 in a research note issued to investors on Thursday morning,MarketScreener reports. The brokerage currently has a buy rating on the financial services provider’s stock.

A number of other research firms have also recently commented on MTB. Barclays increased their price target on shares of M&T Bank from $220.00 to $236.00 and gave the company an “equal weight” rating in a report on Monday, January 5th. Evercore lowered shares of M&T Bank from an “outperform” rating to a “hold” rating and boosted their price objective for the stock from $210.00 to $225.00 in a report on Tuesday, January 6th. Wells Fargo & Company upped their price objective on M&T Bank from $185.00 to $205.00 and gave the company an “underweight” rating in a research report on Monday, January 5th. Piper Sandler increased their target price on M&T Bank from $225.00 to $235.00 in a research note on Friday, January 16th. Finally, Truist Financial set a $230.00 target price on M&T Bank in a report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $232.87.

M&T Bank Price Performance

MTB opened at $210.43 on Thursday. The firm has a market cap of $31.35 billion, a PE ratio of 12.34, a P/E/G ratio of 0.92 and a beta of 0.58. The stock has a 50-day moving average price of $219.16 and a 200-day moving average price of $202.39. M&T Bank has a 1 year low of $150.75 and a 1 year high of $239.00. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.96 and a quick ratio of 0.96.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.72 EPS for the quarter, beating the consensus estimate of $4.47 by $0.25. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $2.47 billion. M&T Bank had a net margin of 21.55% and a return on equity of 10.94%. During the same period in the prior year, the firm posted $3.77 EPS. Sell-side analysts predict that M&T Bank will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 2nd will be issued a $1.50 dividend. The ex-dividend date is Monday, March 2nd. This represents a $6.00 annualized dividend and a yield of 2.9%. M&T Bank’s dividend payout ratio (DPR) is currently 35.19%.

Insider Activity at M&T Bank

In other news, Director John P. Barnes sold 21,193 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $235.85, for a total transaction of $4,998,369.05. Following the transaction, the director directly owned 15,142 shares of the company’s stock, valued at $3,571,240.70. This represents a 58.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Gary N. Geisel sold 887 shares of M&T Bank stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $215.79, for a total value of $191,405.73. Following the completion of the sale, the insider directly owned 16,446 shares of the company’s stock, valued at $3,548,882.34. The trade was a 5.12% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 49,092 shares of company stock worth $11,182,250. Company insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Canoe Financial LP boosted its position in M&T Bank by 50.5% in the fourth quarter. Canoe Financial LP now owns 652,744 shares of the financial services provider’s stock worth $131,515,000 after purchasing an additional 219,065 shares during the last quarter. Miller Howard Investments Inc. NY purchased a new stake in shares of M&T Bank during the 4th quarter valued at about $42,817,000. Danske Bank A S bought a new position in shares of M&T Bank in the 3rd quarter worth approximately $29,612,000. Russell Investments Group Ltd. lifted its stake in shares of M&T Bank by 94.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 292,839 shares of the financial services provider’s stock worth $57,879,000 after purchasing an additional 142,593 shares during the period. Finally, Munich Reinsurance Co Stock Corp in Munich boosted its holdings in shares of M&T Bank by 37.1% in the fourth quarter. Munich Reinsurance Co Stock Corp in Munich now owns 351,076 shares of the financial services provider’s stock worth $71,462,000 after buying an additional 95,025 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

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.