M&T Bank (NYSE:MTB) Price Target Raised to $255.00 at Cantor Fitzgerald

M&T Bank (NYSE:MTB) had its price target lifted by Cantor Fitzgerald from $238.00 to $255.00 in a report released on Tuesday,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the financial services provider’s stock.

A number of other equities analysts also recently commented on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of M&T Bank in a research report on Monday, December 29th. Citigroup increased their price target on shares of M&T Bank from $215.00 to $225.00 and gave the stock a “neutral” rating in a report on Friday, January 2nd. Wells Fargo & Company lifted their price objective on M&T Bank from $185.00 to $205.00 and gave the company an “underweight” rating in a report on Monday, January 5th. Morgan Stanley boosted their target price on M&T Bank from $251.00 to $271.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Evercore cut M&T Bank from an “outperform” rating to a “hold” rating and raised their price target for the company from $210.00 to $225.00 in a report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $232.34.

M&T Bank Price Performance

Shares of NYSE:MTB opened at $219.31 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.96 and a current ratio of 0.96. M&T Bank has a one year low of $150.75 and a one year high of $239.00. The company has a 50-day simple moving average of $218.68 and a 200-day simple moving average of $201.95. The stock has a market capitalization of $32.68 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 0.96 and a beta of 0.58.

M&T Bank (NYSE:MTB) last posted 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. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the prior year, the business earned $3.77 EPS. On average, analysts predict that M&T Bank will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 2nd will be issued a $1.50 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $6.00 annualized dividend and a yield of 2.7%. M&T Bank’s dividend payout ratio is 35.19%.

Insider Transactions at M&T Bank

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 887 shares of M&T Bank stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $215.79, for a total transaction of $191,405.73. Following the completion of the transaction, the insider owned 16,446 shares in the company, valued at approximately $3,548,882.34. The trade was a 5.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael A. Wisler sold 8,237 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $223.48, for a total transaction of $1,840,804.76. Following the completion of the sale, the executive vice president directly owned 4,643 shares in the company, valued at $1,037,617.64. This trade represents a 63.95% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 49,092 shares of company stock worth $11,182,250. Corporate insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

A number of institutional investors and hedge funds have recently bought and sold shares of MTB. Commonwealth Retirement Investments LLC increased its position in M&T Bank by 0.4% during the fourth quarter. Commonwealth Retirement Investments LLC now owns 10,991 shares of the financial services provider’s stock worth $2,214,000 after buying an additional 44 shares in the last quarter. Ransom Advisory Ltd increased its position in M&T Bank by 2.0% during the 4th quarter. Ransom Advisory Ltd now owns 2,513 shares of the financial services provider’s stock worth $506,000 after purchasing an additional 50 shares in the last quarter. Wedbush Securities Inc. raised its stake in M&T Bank by 2.4% in the 4th quarter. Wedbush Securities Inc. now owns 2,223 shares of the financial services provider’s stock valued at $448,000 after purchasing an additional 52 shares during the last quarter. Crestwood Advisors Group LLC lifted its holdings in M&T Bank by 1.7% in the 2nd quarter. Crestwood Advisors Group LLC now owns 3,237 shares of the financial services provider’s stock valued at $628,000 after purchasing an additional 54 shares in the last quarter. Finally, Bank of Jackson Hole Trust grew its holdings in shares of M&T Bank by 38.7% during the fourth quarter. Bank of Jackson Hole Trust now owns 215 shares of the financial services provider’s stock worth $43,000 after buying an additional 60 shares in the last quarter. Hedge funds and other 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.