M&T Bank (NYSE:MTB) Price Target Raised to $190.00 at Piper Sandler

M&T Bank (NYSE:MTB) had its target price increased by Piper Sandler from $164.00 to $190.00 in a research report released on Monday, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

MTB has been the subject of a number of other reports. Wells Fargo & Company upped their price objective on M&T Bank from $145.00 to $150.00 and gave the stock an equal weight rating in a research note on Tuesday, April 16th. Bank of America boosted their price target on M&T Bank from $157.00 to $160.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. Evercore ISI boosted their price target on M&T Bank from $157.00 to $168.00 and gave the stock an in-line rating in a research report on Tuesday, June 25th. Royal Bank of Canada boosted their price target on M&T Bank from $160.00 to $174.00 and gave the stock an outperform rating in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. boosted their price target on M&T Bank from $170.00 to $180.00 and gave the stock a neutral rating in a research report on Tuesday, April 16th. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, M&T Bank presently has an average rating of Hold and an average price target of $170.35.

M&T Bank Price Performance

Shares of MTB opened at $171.68 on Monday. The company has a market cap of $28.64 billion, a P/E ratio of 11.61, a PEG ratio of 4.42 and a beta of 0.77. The stock has a fifty day moving average price of $151.51 and a 200 day moving average price of $144.50. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.94 and a quick ratio of 1.00. M&T Bank has a 12 month low of $108.53 and a 12 month high of $175.00.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. The firm had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $2.27 billion. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. During the same period in the prior year, the business earned $5.12 EPS. On average, research analysts forecast that M&T Bank will post 14.12 earnings per share for the current year.

M&T Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.15%. This is an increase from M&T Bank’s previous quarterly dividend of $1.30. The ex-dividend date was Monday, June 3rd. M&T Bank’s dividend payout ratio is currently 36.51%.

Insider Activity

In related news, Director Kirk W. Walters sold 16,179 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $148.01, for a total transaction of $2,394,653.79. Following the transaction, the director now directly owns 6,348 shares of the company’s stock, valued at $939,567.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Kirk W. Walters sold 16,179 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $148.01, for a total transaction of $2,394,653.79. Following the transaction, the director now directly owns 6,348 shares of the company’s stock, valued at $939,567.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John P. Barnes sold 13,360 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $147.00, for a total value of $1,963,920.00. Following the transaction, the director now directly owns 35,480 shares in the company, valued at $5,215,560. The disclosure for this sale can be found here. Insiders sold a total of 85,915 shares of company stock valued at $13,026,659 over the last three months. Insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Retirement Systems of Alabama increased its position in M&T Bank by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 36,806 shares of the financial services provider’s stock worth $5,571,000 after purchasing an additional 134 shares during the last quarter. Catalina Capital Group LLC increased its position in M&T Bank by 14.8% in the 2nd quarter. Catalina Capital Group LLC now owns 2,875 shares of the financial services provider’s stock worth $435,000 after purchasing an additional 370 shares during the last quarter. Cornerstone Wealth Group LLC increased its position in M&T Bank by 6.0% in the 2nd quarter. Cornerstone Wealth Group LLC now owns 27,779 shares of the financial services provider’s stock worth $4,205,000 after purchasing an additional 1,571 shares during the last quarter. &PARTNERS acquired a new position in M&T Bank in the 2nd quarter worth about $429,000. Finally, GYL Financial Synergies LLC increased its position in M&T Bank by 2.9% in the 2nd quarter. GYL Financial Synergies LLC now owns 12,830 shares of the financial services provider’s stock worth $1,942,000 after purchasing an additional 366 shares during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

About M&T Bank

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.