M&T Bank (NYSE:MTB) Now Covered by Analysts at Truist Financial

Truist Financial started coverage on shares of M&T Bank (NYSE:MTB) in a report published on Tuesday morning, MarketBeat.com reports. The firm issued a buy rating and a $233.00 price objective on the financial services provider’s stock.

A number of other research analysts have also commented on the company. The Goldman Sachs Group raised their price target on M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Wells Fargo & Company boosted their price target on shares of M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a research report on Friday, November 15th. DA Davidson increased their price objective on shares of M&T Bank from $192.00 to $207.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Wedbush raised 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. Finally, Barclays upped their target price on M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Monday. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $216.86.

M&T Bank Trading Down 0.5 %

Shares of NYSE:MTB opened at $191.06 on Tuesday. M&T Bank has a fifty-two week low of $128.31 and a fifty-two week high of $225.70. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. The company has a market cap of $31.70 billion, a PE ratio of 14.14, a P/E/G ratio of 2.79 and a beta of 0.79. The company’s 50-day moving average price is $203.25 and its 200 day moving average price is $181.58.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.60 by $0.48. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.30 billion. Sell-side analysts anticipate that M&T Bank will post 14.63 earnings per share for the current year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.83%. The ex-dividend date was Monday, December 2nd. M&T Bank’s dividend payout ratio (DPR) is currently 39.97%.

Insider Activity

In other M&T Bank news, EVP Tracy S. Woodrow sold 2,121 shares of M&T Bank stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total transaction of $468,210.75. Following the completion of the sale, the executive vice president now owns 5,141 shares of the company’s stock, valued at $1,134,875.75. This trade represents a 29.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total transaction of $537,566.10. Following the completion of the transaction, the insider now directly owns 16,429 shares in the company, valued at $3,546,856.81. This trade represents a 13.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 84,994 shares of company stock worth $17,211,278 over the last quarter. Corporate insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Hedeker Wealth LLC boosted its holdings in M&T Bank by 1.6% in the third quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider’s stock worth $627,000 after purchasing an additional 55 shares in the last quarter. Frank Rimerman Advisors LLC boosted its stake in shares of M&T Bank by 1.0% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider’s stock worth $1,005,000 after acquiring an additional 57 shares in the last quarter. Crestwood Advisors Group LLC increased its holdings in shares of M&T Bank by 1.9% during the 3rd quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock valued at $553,000 after acquiring an additional 57 shares during the last quarter. Hexagon Capital Partners LLC raised its stake 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 acquiring an additional 68 shares in the last quarter. Finally, Meitav Investment House Ltd. lifted its holdings in M&T Bank by 3.1% in the 3rd quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider’s stock worth $386,000 after purchasing an additional 69 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.