M&T Bank (NYSE:MTB) Given New $220.00 Price Target at Royal Bank Of Canada

M&T Bank (NYSE:MTBFree Report) had its price target hoisted by Royal Bank Of Canada from $210.00 to $220.00 in a report released on Friday,MarketScreener reports. The firm currently has an outperform rating on the financial services provider’s stock.

A number of other brokerages also recently issued reports on MTB. Barclays raised their price target on shares of M&T Bank from $220.00 to $236.00 and gave the stock an “equal weight” rating in a report on Monday, January 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of M&T Bank in a research note on Monday, December 29th. Cowen restated a “buy” rating on shares of M&T Bank in a report on Wednesday, January 7th. Bank of America reaffirmed a “neutral” rating and set a $225.00 target price on shares of M&T Bank in a research note on Wednesday, January 7th. Finally, Evercore ISI lowered shares of M&T Bank from an “outperform” rating to a “hold” rating and upped their price objective for the stock from $210.00 to $225.00 in a report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $223.55.

Read Our Latest Analysis on MTB

M&T Bank Price Performance

Shares of NYSE:MTB traded up $0.02 during midday trading on Friday, hitting $212.59. The company had a trading volume of 1,838,964 shares, compared to its average volume of 902,166. The business’s 50-day simple moving average is $199.27 and its 200-day simple moving average is $195.14. The stock has a market cap of $32.67 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 0.94 and a beta of 0.59. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.97 and a quick ratio of 0.97. M&T Bank has a twelve month low of $150.75 and a twelve month high of $215.71.

M&T Bank (NYSE:MTBGet Free Report) last posted its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.72 EPS for the quarter, topping the consensus estimate of $4.47 by $0.25. M&T Bank had a return on equity of 10.62% and a net margin of 20.91%.The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the previous year, the firm earned $3.77 EPS. On average, research analysts predict that M&T Bank will post 16.57 earnings per share for the current year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 1st were paid a $1.50 dividend. The ex-dividend date was Monday, December 1st. This represents a $6.00 dividend on an annualized basis and a yield of 2.8%. M&T Bank’s payout ratio is currently 35.19%.

Insider Buying and Selling

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 6,000 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $190.06, for a total value of $1,140,360.00. Following the sale, the director directly owned 17,070 shares in the company, valued at $3,244,324.20. This trade represents a 26.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christopher E. Kay sold 5,250 shares of the company’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $191.70, for a total value of $1,006,425.00. Following the transaction, the executive vice president directly owned 5,501 shares of the company’s stock, valued at approximately $1,054,541.70. This represents a 48.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ransom Advisory Ltd boosted its holdings in shares of M&T Bank by 2.0% in the 4th quarter. Ransom Advisory Ltd now owns 2,513 shares of the financial services provider’s stock valued at $506,000 after buying an additional 50 shares in the last quarter. Crestwood Advisors Group LLC lifted its position in M&T Bank by 1.7% in the second quarter. Crestwood Advisors Group LLC now owns 3,237 shares of the financial services provider’s stock valued at $628,000 after acquiring an additional 54 shares during the last quarter. Arkadios Wealth Advisors boosted its stake in M&T Bank by 5.1% in the second quarter. Arkadios Wealth Advisors now owns 1,312 shares of the financial services provider’s stock valued at $254,000 after acquiring an additional 64 shares in the last quarter. Gamco Investors INC. ET AL boosted its stake in M&T Bank by 0.3% in the second quarter. Gamco Investors INC. ET AL now owns 20,489 shares of the financial services provider’s stock valued at $3,975,000 after acquiring an additional 67 shares in the last quarter. Finally, Wedbush Securities Inc. grew its holdings in shares of M&T Bank by 3.3% during the third quarter. Wedbush Securities Inc. now owns 2,171 shares of the financial services provider’s stock worth $429,000 after purchasing an additional 70 shares during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting M&T Bank

Here are the key news stories impacting M&T Bank this week:

M&T Bank Company Profile

(Get Free Report)

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.

Read More

Analyst Recommendations for M&T Bank (NYSE:MTB)

Receive News & Ratings for M&T Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M&T Bank and related companies with MarketBeat.com's FREE daily email newsletter.