M&T Bank Corporation (NYSE:MTB) Stock Has Average Price Target of $250.47

Shares of M&T Bank Corporation (NYSE:MTB) have received a consensus rating of “Hold” from the twenty-three research firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, fourteen have given a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $250.21.

Several research analysts have weighed in on the stock. Truist Financial lowered their price objective on shares of M&T Bank from $268.00 to $250.00 and set a “hold” rating on the stock in a report on Wednesday, September 23rd. Keefe, Bruyette & Woods lifted their price objective on shares of M&T Bank from $242.00 to $250.00 and gave the company a “market perform” rating in a report on Thursday, July 16th. Weiss Ratings reissued a “buy (b)” rating on shares of M&T Bank in a research report on Tuesday, September 1st. Royal Bank Of Canada upped their target price on shares of M&T Bank from $230.00 to $255.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. Finally, Wells Fargo & Company raised their price target on shares of M&T Bank from $215.00 to $224.00 and gave the company an “underweight” rating in a research report on Thursday, July 16th.

Insider Buying and Selling

In related news, Director Rudina Seseri sold 623 shares of the company’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $241.04, for a total transaction of $150,167.92. Following the completion of the sale, the director owned 3,649 shares in the company, valued at approximately $879,554.96. This represents a 14.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Rene F. Jones sold 19,396 shares of the stock in a transaction on Monday, September 14th. The shares were sold at an average price of $239.35, for a total value of $4,642,432.60. Following the completion of the sale, the chief executive officer directly owned 103,831 shares of the company’s stock, valued at $24,851,949.85. The trade was a 15.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 20,028 shares of company stock worth $4,794,884 in the last 90 days. Corporate insiders own 0.44% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

Several large investors have recently bought and sold shares of MTB. GAMMA Investing LLC boosted its holdings in M&T Bank by 1.9% during the 3rd quarter. GAMMA Investing LLC now owns 6,462 shares of the financial services provider’s stock worth $1,406,000 after acquiring an additional 119 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of M&T Bank by 9.0% in the third quarter. Farther Finance Advisors LLC now owns 6,724 shares of the financial services provider’s stock valued at $1,463,000 after purchasing an additional 554 shares during the last quarter. Everhart Financial Group Inc. lifted its position in shares of M&T Bank by 5.8% during the third quarter. Everhart Financial Group Inc. now owns 2,470 shares of the financial services provider’s stock valued at $537,000 after purchasing an additional 135 shares in the last quarter. Elevation Wealth Partners LLC lifted its position in shares of M&T Bank by 153.2% during the third quarter. Elevation Wealth Partners LLC now owns 276 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 167 shares in the last quarter. Finally, Eastern Bank lifted its position in shares of M&T Bank by 259.2% during the third quarter. Eastern Bank now owns 24,456 shares of the financial services provider’s stock valued at $5,322,000 after purchasing an additional 17,647 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Trading Up 0.4%

NYSE MTB opened at $217.55 on Tuesday. The company has a market cap of $31.42 billion, a price-to-earnings ratio of 11.49, a P/E/G ratio of 1.23 and a beta of 0.61. M&T Bank has a 52 week low of $174.76 and a 52 week high of $255.95. The business has a 50 day moving average price of $235.88 and a 200-day moving average price of $228.09. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.53.

M&T Bank (NYSE:MTB) last issued its earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share for the quarter, topping analysts’ consensus estimates of $4.66 by $0.69. M&T Bank had a return on equity of 11.80% and a net margin of 22.72%.The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period in the prior year, the firm earned $4.28 earnings per share. As a group, equities analysts expect that M&T Bank will post 19.42 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st were paid a $1.50 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $6.00 annualized dividend and a dividend yield of 2.8%. M&T Bank’s dividend payout ratio is 31.68%.

About M&T Bank

M&T Bank Corporation is a regional financial services company headquartered in Buffalo, New York. Founded in 1856, the company operates primarily through its M&T Bank subsidiary and serves consumers, businesses, institutions and government entities.

M&T Bank provides a range of banking products and services, including checking and savings accounts, consumer lending, residential mortgages, credit cards, commercial loans, treasury management and investment services. Through its wealth management and institutional businesses, the company also offers trust, investment management, custody and related financial services.

The bank serves customers across a footprint concentrated in the Mid-Atlantic and Northeastern United States, including New York, Pennsylvania, Maryland, New Jersey, Delaware, Virginia, West Virginia and Washington, DC Its businesses also include Wilmington Trust, which provides wealth management, corporate and institutional trust, and related services.

John R.