M&T Bank (NYSE:MTB) Price Target Raised to $230.00

M&T Bank (NYSE:MTB) had its price objective upped by UBS Group from $217.00 to $230.00 in a research report sent to investors on Wednesday,MarketScreener reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

MTB has been the topic of several other reports. Barclays lifted their target price on shares of M&T Bank from $220.00 to $236.00 and gave the stock an “equal weight” rating in a research report on Monday, January 5th. Wolfe Research cut M&T Bank from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 7th. TD Cowen reissued a “buy” rating on shares of M&T Bank in a research report on Wednesday, January 7th. The Goldman Sachs Group upped their price target on shares of M&T Bank from $230.00 to $231.00 and gave the company a “neutral” rating in a research report on Tuesday, January 20th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of M&T Bank in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, M&T Bank currently has an average rating of “Hold” and an average target price of $225.45.

M&T Bank Trading Up 1.8%

Shares of NYSE MTB traded up $4.25 during midday trading on Wednesday, reaching $238.19. The company had a trading volume of 1,265,838 shares, compared to its average volume of 1,307,129. The stock has a market cap of $36.61 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 1.03 and a beta of 0.60. M&T Bank has a one year low of $150.75 and a one year high of $238.54. The firm’s fifty day moving average price is $209.68 and its 200-day moving average price is $197.48. The company has a quick ratio of 0.97, a current ratio of 0.90 and a debt-to-equity ratio of 0.41.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.72 earnings per share for the quarter, topping the consensus estimate of $4.47 by $0.25. The business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations 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 quarter last year, the business posted $3.77 EPS. On average, equities research analysts anticipate that M&T Bank will post 16.57 earnings per share for the current year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 1st were issued 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 dividend yield of 2.5%. M&T Bank’s dividend payout ratio (DPR) is presently 35.19%.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $190.06, for a total transaction of $1,140,360.00. Following the completion of the transaction, the director owned 17,070 shares in the company, valued at $3,244,324.20. The trade was a 26.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John P. Barnes sold 17,866 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $220.81, for a total value of $3,944,991.46. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 30,912 shares of company stock valued at $6,489,862. Insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of Jackson Hole Trust raised its stake in shares of 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 last quarter. Triumph Capital Management acquired a new position in M&T Bank in the 3rd quarter worth approximately $32,000. Golden State Wealth Management LLC raised its position in M&T Bank by 2,214.3% during the 2nd quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock worth $31,000 after buying an additional 155 shares during the last quarter. Elyxium Wealth LLC acquired a new stake in M&T Bank during the 4th quarter valued at approximately $33,000. Finally, Ameriflex Group Inc. boosted its holdings in shares of M&T Bank by 82.4% in the 3rd quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 84 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 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.