M&T Bank (NYSE:MTB) PT Raised to $228.00

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

A number of other analysts also recently issued reports on MTB. Keefe, Bruyette & Woods raised their price target on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a report on Friday, July 19th. Jefferies Financial Group raised their target price on M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Piper Sandler upped their price target on M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Bank of America raised their price objective on M&T Bank from $160.00 to $188.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, Wolfe Research upgraded shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective on the stock in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $197.47.

M&T Bank Trading Down 2.0 %

Shares of MTB opened at $193.63 on Friday. M&T Bank has a 12-month low of $108.53 and a 12-month high of $200.94. The firm has a market capitalization of $32.31 billion, a P/E ratio of 13.09, a P/E/G ratio of 3.27 and a beta of 0.75. The firm has a 50-day moving average price of $173.61 and a 200 day moving average price of $159.31. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44.

M&T Bank Announces Dividend

The business also recently declared 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 of this dividend was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a yield of 2.79%. M&T Bank’s dividend payout ratio (DPR) is 36.51%.

Insider Buying and Selling at M&T Bank

In related news, EVP Michael J. Todaro sold 4,791 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $162.57, for a total transaction of $778,872.87. Following the sale, the executive vice president now directly owns 3,086 shares in the company, valued at approximately $501,691.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Michael J. Todaro sold 4,791 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $162.57, for a total value of $778,872.87. Following the transaction, the executive vice president now owns 3,086 shares of the company’s stock, valued at $501,691.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total value of $1,720,300.00. Following the sale, the director now directly owns 44,902 shares of the company’s stock, valued at $7,724,491.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,699 shares of company stock valued at $4,943,119 in the last quarter. Corporate insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

Hedge funds have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC boosted its holdings in shares of M&T Bank by 54.4% in the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after buying an additional 68 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in M&T Bank in the first quarter valued at $30,000. Oakworth Capital Inc. acquired a new position in M&T Bank in the second quarter valued at $35,000. nVerses Capital LLC purchased a new position in shares of M&T Bank during the third quarter worth about $53,000. Finally, Annapolis Financial Services LLC increased its position in shares of M&T Bank by 150.7% during the third quarter. Annapolis Financial Services LLC now owns 376 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 226 shares in the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

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.