M&T Bank Corporation (NYSE:MTB) Receives $232.87 Average PT from Analysts

M&T Bank Corporation (NYSE:MTB) has received an average recommendation of “Hold” from the twenty-one research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $232.8684.

Several analysts have commented on the stock. Wells Fargo & Company raised their price objective on shares of M&T Bank from $185.00 to $205.00 and gave the stock an “underweight” rating in a report on Monday, January 5th. Citigroup upped their target price on M&T Bank from $215.00 to $225.00 and gave the stock a “neutral” rating in a report on Friday, January 2nd. Robert W. Baird increased their target price on M&T Bank from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, December 18th. Evercore lowered M&T Bank from an “outperform” rating to a “hold” rating and lifted their price target for the company from $210.00 to $225.00 in a research report on Tuesday, January 6th. Finally, Piper Sandler increased their price objective on M&T Bank from $225.00 to $235.00 in a report on Friday, January 16th.

Insider Buying and Selling at M&T Bank

In other news, Director John P. Barnes sold 21,193 shares of M&T Bank stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $235.85, for a total transaction of $4,998,369.05. Following the completion of the transaction, the director directly owned 15,142 shares in the company, valued at approximately $3,571,240.70. This trade represents a 58.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael A. Wisler sold 8,237 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $223.48, for a total value of $1,840,804.76. Following the completion of the sale, the executive vice president directly owned 4,643 shares in the company, valued at approximately $1,037,617.64. This represents a 63.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 49,092 shares of company stock worth $11,182,250. Insiders own 0.44% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

Hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its holdings in shares of M&T Bank by 3.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,416,224 shares of the financial services provider’s stock valued at $285,341,000 after acquiring an additional 49,336 shares in the last quarter. Canoe Financial LP increased its stake in M&T Bank by 50.5% during the 4th quarter. Canoe Financial LP now owns 652,744 shares of the financial services provider’s stock valued at $131,515,000 after purchasing an additional 219,065 shares in the last quarter. Marshall Wace LLP raised its holdings in M&T Bank by 6.2% in the second quarter. Marshall Wace LLP now owns 584,438 shares of the financial services provider’s stock worth $113,375,000 after buying an additional 33,920 shares during the last quarter. Barclays PLC lifted its stake in shares of M&T Bank by 3.9% in the fourth quarter. Barclays PLC now owns 530,305 shares of the financial services provider’s stock worth $106,846,000 after buying an additional 20,120 shares in the last quarter. Finally, Davis Asset Management L.P. grew its holdings in shares of M&T Bank by 23.1% during the fourth quarter. Davis Asset Management L.P. now owns 400,000 shares of the financial services provider’s stock valued at $80,592,000 after buying an additional 75,000 shares during the last quarter. 84.68% of the stock is owned by institutional investors.

M&T Bank Trading Up 0.4%

MTB opened at $205.62 on Friday. M&T Bank has a one year low of $150.75 and a one year high of $239.00. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.96 and a quick ratio of 0.96. The business has a 50 day simple moving average of $217.19 and a two-hundred day simple moving average of $202.55. The firm has a market capitalization of $30.64 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 0.90 and a beta of 0.58.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.72 earnings per share for the quarter, topping analysts’ consensus estimates of $4.47 by $0.25. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $2.47 billion. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.During the same period last year, the company earned $3.77 EPS. Analysts predict that M&T Bank will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 2nd will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, March 2nd. M&T Bank’s dividend payout ratio (DPR) is 35.19%.

About M&T Bank

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.