M&T Bank (NYSE:MTB) Price Target Raised to $285.00

M&T Bank (NYSE:MTB) had its target price upped by Cantor Fitzgerald from $262.00 to $285.00 in a research report released on Wednesday morning, MarketBeat reports. Cantor Fitzgerald currently has an overweight rating on the financial services provider’s stock.

Several other brokerages have also recently commented on MTB. Deutsche Bank Aktiengesellschaft cut shares of M&T Bank from a “buy” rating to a “hold” rating and set a $250.00 target price for the company. in a research report on Thursday, July 23rd. Wells Fargo & Company increased their price target on shares of M&T Bank from $215.00 to $224.00 and gave the stock an “underweight” rating in a research report on Thursday, July 16th. UBS Group lifted their price objective on shares of M&T Bank from $252.00 to $255.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Weiss Ratings restated a “buy (b)” rating on shares of M&T Bank in a research report on Thursday, June 4th. Finally, Royal Bank Of Canada upped their target price on M&T Bank from $230.00 to $255.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $253.43.

M&T Bank Stock Up 1.0%

Shares of NYSE MTB opened at $240.61 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.96 and a current ratio of 0.96. M&T Bank has a 52 week low of $174.76 and a 52 week high of $255.95. The stock has a market capitalization of $34.75 billion, a P/E ratio of 12.70, a PEG ratio of 1.10 and a beta of 0.57. The stock’s fifty day moving average is $243.19 and its 200 day moving average is $225.55.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $5.35 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $0.69. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.46 billion. M&T Bank had a return on equity of 11.80% and a net margin of 22.72%.During the same quarter in the previous year, the firm earned $4.28 earnings per share. Sell-side analysts forecast that M&T Bank will post 19.43 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $6.00 annualized dividend and a dividend yield of 2.5%. M&T Bank’s payout ratio is 31.68%.

Institutional Trading of M&T Bank

Hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Retirement Investments LLC grew its stake in shares of M&T Bank by 0.4% during the fourth quarter. Commonwealth Retirement Investments LLC now owns 10,991 shares of the financial services provider’s stock worth $2,214,000 after buying an additional 44 shares during the last quarter. Wedbush Securities Inc. boosted its holdings in shares of M&T Bank by 2.4% during the 4th quarter. Wedbush Securities Inc. now owns 2,223 shares of the financial services provider’s stock valued at $448,000 after acquiring an additional 52 shares in the last quarter. CX Institutional boosted its holdings in shares of M&T Bank by 3.4% during the 2nd quarter. CX Institutional now owns 1,650 shares of the financial services provider’s stock valued at $393,000 after acquiring an additional 54 shares in the last quarter. Bank of Jackson Hole Trust grew its position in M&T Bank by 38.7% during the 4th quarter. Bank of Jackson Hole Trust now owns 215 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 60 shares during the last quarter. Finally, Thoroughbred Financial Services LLC grew its position in M&T Bank by 2.1% during the 4th quarter. Thoroughbred Financial Services LLC now owns 3,465 shares of the financial services provider’s stock worth $698,000 after acquiring an additional 70 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Company Profile

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.