M&T Bank (NYSE:MTB) Stock Price Expected to Rise, DA Davidson Analyst Says

M&T Bank (NYSE:MTB) had its price objective boosted by DA Davidson from $222.00 to $223.00 in a report issued on Friday morning,Benzinga reports. DA Davidson currently has a neutral rating on the financial services provider’s stock.

Other equities research analysts have also issued research reports about the company. Barclays boosted their target price on M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Citigroup downgraded M&T Bank from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $220.00 to $230.00 in a research report on Monday, November 25th. Royal Bank of Canada lifted their target price on shares of M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Truist Financial reiterated a “buy” rating and set a $236.00 price target (up from $233.00) on shares of M&T Bank in a report on Friday. Finally, The Goldman Sachs Group boosted their price objective on shares of M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, M&T Bank has a consensus rating of “Hold” and a consensus target price of $221.68.

M&T Bank Stock Performance

Shares of NYSE MTB opened at $196.88 on Friday. The stock’s 50-day moving average is $202.66 and its 200 day moving average is $183.16. The stock has a market cap of $32.67 billion, a price-to-earnings ratio of 14.57, a P/E/G ratio of 2.16 and a beta of 0.79. M&T Bank has a 1-year low of $128.31 and a 1-year high of $225.70. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. During the same period in the previous year, the business posted $2.74 earnings per share. On average, sell-side analysts anticipate that M&T Bank will post 14.58 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend was Monday, December 2nd. M&T Bank’s dividend payout ratio (DPR) is presently 39.97%.

Insider Buying and Selling

In related news, Director John P. Barnes sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $193.97, for a total transaction of $3,879,400.00. Following the completion of the transaction, the director now owns 49,960 shares of the company’s stock, valued at $9,690,741.20. This trade represents a 28.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total value of $537,566.10. Following the completion of the sale, the insider now directly owns 16,429 shares in the company, valued at $3,546,856.81. This trade represents a 13.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 84,994 shares of company stock worth $17,211,278 in the last three months. 0.82% of the stock is owned by corporate insiders.

Institutional Trading of M&T Bank

Institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC raised its stake in shares of M&T Bank by 13.9% in the third quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock worth $2,199,675,000 after purchasing an additional 1,508,846 shares during the last quarter. State Street Corp increased its holdings in M&T Bank by 6.4% in the 3rd quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock worth $1,562,725,000 after buying an additional 527,854 shares in the last quarter. Marshall Wace LLP raised its position in M&T Bank by 232.1% in the 2nd quarter. Marshall Wace LLP now owns 676,745 shares of the financial services provider’s stock worth $102,432,000 after buying an additional 472,997 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in M&T Bank during the 3rd quarter valued at about $44,422,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of M&T Bank by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock valued at $897,216,000 after acquiring an additional 190,837 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Company Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.