M&T Bank (NYSE:MTB) Price Target Cut to $200.00 by Analysts at Robert W. Baird

M&T Bank (NYSE:MTB) had its price objective lowered by Robert W. Baird from $220.00 to $200.00 in a research report sent to investors on Tuesday,Benzinga reports. Robert W. Baird currently has an outperform rating on the financial services provider’s stock.

Other analysts have also recently issued reports about the stock. Evercore ISI decreased their price objective on shares of M&T Bank from $234.00 to $205.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. JPMorgan Chase & Co. lowered their target price on M&T Bank from $212.50 to $186.50 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Morgan Stanley lowered their price objective on shares of M&T Bank from $269.00 to $253.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Truist Financial dropped their target price on M&T Bank from $236.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, April 4th. Finally, Citigroup dropped their price objective on M&T Bank from $230.00 to $195.00 and set a “neutral” rating for the company in a report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, M&T Bank has an average rating of “Hold” and an average price target of $208.14.

M&T Bank Trading Up 0.6 %

M&T Bank stock opened at $159.47 on Tuesday. The stock has a market cap of $26.20 billion, a price-to-earnings ratio of 10.90, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. M&T Bank has a 12 month low of $136.18 and a 12 month high of $225.70. The business has a 50 day moving average price of $179.62 and a two-hundred day moving average price of $191.54. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.03). The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.35 billion. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same period in the previous year, the business posted $3.09 earnings per share. As a group, equities analysts forecast that M&T Bank will post 16.57 EPS for the current year.

M&T Bank declared that its Board of Directors has initiated a stock buyback plan on Wednesday, January 22nd that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 12.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date was Monday, March 3rd. M&T Bank’s dividend payout ratio is currently 36.91%.

Insider Buying and Selling

In other news, EVP Christopher E. Kay sold 1,738 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the sale, the executive vice president now owns 10,751 shares of the company’s stock, valued at $1,852,827.34. This represents a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of the stock is owned by company insiders.

Hedge Funds Weigh In On M&T Bank

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTB. Wood Tarver Financial Group LLC bought a new stake in shares of M&T Bank in the fourth quarter valued at about $29,000. Banque Transatlantique SA acquired a new stake in M&T Bank in the 4th quarter valued at approximately $38,000. Y.D. More Investments Ltd lifted its stake in M&T Bank by 122.6% in the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 114 shares in the last quarter. Human Investing LLC acquired a new position in M&T Bank during the 4th quarter worth approximately $44,000. Finally, Sierra Ocean LLC bought a new position in shares of M&T Bank during the 4th quarter worth approximately $44,000. 84.68% of the stock is owned by institutional investors and hedge funds.

About M&T Bank

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.