M&T Bank (NYSE:MTB) Price Target Increased to $228.00 by Analysts at Barclays

M&T Bank (NYSE:MTB) had its price target boosted by Barclays from $170.00 to $228.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

A number of other brokerages have also recently weighed in on MTB. JPMorgan Chase & Co. raised M&T Bank from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $183.00 to $215.00 in a research note on Tuesday, September 3rd. Wolfe Research upgraded shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a research note on Friday, October 4th. DA Davidson lifted their price objective on shares of M&T Bank from $159.00 to $185.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Citigroup increased their target price on shares of M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, Bank of America boosted their price target on shares of M&T Bank from $160.00 to $188.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $196.18.

M&T Bank Stock Down 0.7 %

Shares of MTB opened at $197.55 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. The firm has a market cap of $32.96 billion, a P/E ratio of 13.36, a price-to-earnings-growth ratio of 3.27 and a beta of 0.75. The company’s 50-day moving average price is $172.93 and its 200 day moving average price is $158.65. M&T Bank has a 12-month low of $108.53 and a 12-month high of $200.94.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, topping the consensus estimate of $3.50 by $0.23. The firm had revenue of $3.37 billion for the quarter, compared to analyst estimates of $2.27 billion. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. During the same period in the prior year, the business posted $5.12 EPS. On average, sell-side analysts forecast that M&T Bank will post 14.16 earnings per share for the current year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were issued a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.73%. M&T Bank’s payout ratio is 36.51%.

Insider Activity at M&T Bank

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 1,000 shares of M&T Bank stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total value of $172,230.00. Following the transaction, the director now directly owns 31,796 shares in the company, valued at approximately $5,476,225.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Robert E. Sadler, Jr. sold 1,000 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total transaction of $172,230.00. Following the transaction, the director now owns 31,796 shares of the company’s stock, valued at $5,476,225.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Vice Chairman Gary N. Geisel sold 500 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total transaction of $86,250.00. Following the sale, the insider now directly owns 16,429 shares in the company, valued at approximately $2,834,002.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,699 shares of company stock worth $5,115,349 in the last quarter. Company insiders own 0.82% of the company’s stock.

Institutional Trading of M&T Bank

Several institutional investors and hedge funds have recently modified their holdings of the business. Massachusetts Financial Services Co. MA lifted its stake in M&T Bank by 4.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock valued at $269,696,000 after buying an additional 81,004 shares in the last quarter. Dimensional Fund Advisors LP increased its position in M&T Bank by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock worth $244,129,000 after purchasing an additional 93,113 shares in the last quarter. Bank of New York Mellon Corp raised its stake in M&T Bank by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,513,452 shares of the financial services provider’s stock valued at $229,076,000 after purchasing an additional 44,442 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in M&T Bank by 3.2% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,398,199 shares of the financial services provider’s stock valued at $211,631,000 after purchasing an additional 43,795 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its stake in shares of M&T Bank by 77.0% during the 2nd quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock worth $110,993,000 after purchasing an additional 319,051 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

About M&T Bank

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.