M&T Bank (NYSE:MTB) Price Target Raised to $205.00 at Wells Fargo & Company

M&T Bank (NYSE:MTB) had its target price hoisted by Wells Fargo & Company from $190.00 to $205.00 in a research report released on Friday,Benzinga reports. They currently have an underweight rating on the financial services provider’s stock.

MTB has been the subject of several other research reports. Morgan Stanley boosted their price target on shares of M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Citigroup lifted their price objective on shares of M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, July 19th. DA Davidson lifted their price objective on shares of M&T Bank from $192.00 to $207.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. The Goldman Sachs Group lifted their price objective on shares of M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Wedbush lifted their price objective on shares of M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, M&T Bank has a consensus rating of “Hold” and an average target price of $199.65.

M&T Bank Stock Performance

Shares of MTB opened at $214.74 on Friday. M&T Bank has a 1 year low of $123.37 and a 1 year high of $216.84. The company has a market cap of $35.63 billion, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of 3.02 and a beta of 0.74. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a fifty day moving average of $187.11 and a 200-day moving average of $167.36.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.60 by $0.48. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.30 billion. As a group, equities analysts anticipate that M&T Bank will post 14.56 earnings per share for the current year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $1.35 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a yield of 2.51%. M&T Bank’s payout ratio is presently 39.97%.

Insiders Place Their Bets

In other M&T Bank news, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the sale, the director now owns 44,902 shares in the company, valued at approximately $7,724,491.06. The trade was a 18.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Rene F. Jones sold 23,071 shares of M&T Bank stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $193.88, for a total value of $4,473,005.48. Following the transaction, the chief executive officer now directly owns 77,226 shares in the company, valued at approximately $14,972,576.88. This trade represents a 23.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 70,383 shares of company stock worth $13,576,801. Company insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

Institutional investors and hedge funds have recently bought and sold shares of the business. Ontario Teachers Pension Plan Board grew its stake in M&T Bank by 43.1% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 12,423 shares of the financial services provider’s stock valued at $1,807,000 after acquiring an additional 3,739 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in M&T Bank during the 3rd quarter valued at about $44,000. Principal Financial Group Inc. grew its stake in M&T Bank by 1.4% during the 3rd quarter. Principal Financial Group Inc. now owns 199,111 shares of the financial services provider’s stock valued at $35,466,000 after acquiring an additional 2,797 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in M&T Bank by 5.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 331,868 shares of the financial services provider’s stock valued at $48,267,000 after acquiring an additional 18,566 shares in the last quarter. Finally, Gateway Investment Advisers LLC grew its stake in M&T Bank by 60.0% during the 2nd quarter. Gateway Investment Advisers LLC now owns 32,799 shares of the financial services provider’s stock valued at $4,964,000 after acquiring an additional 12,304 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 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.