M&T Bank (NYSE:MTB) PT Raised to $216.00

M&T Bank (NYSE:MTB) had its price objective boosted by The Goldman Sachs Group from $190.00 to $216.00 in a research note issued to investors on Friday morning, Marketbeat reports. The Goldman Sachs Group currently has a neutral rating on the financial services provider’s stock.

Several other research firms also recently weighed in on MTB. Keefe, Bruyette & Woods lifted their target price on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. raised shares of M&T Bank from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $183.00 to $215.00 in a report on Tuesday, September 3rd. Morgan Stanley raised their price target on M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Wells Fargo & Company lowered M&T Bank from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $170.00 to $165.00 in a research note on Thursday, August 15th. Finally, Piper Sandler raised their target price on M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, M&T Bank has an average rating of “Hold” and a consensus target price of $197.47.

M&T Bank Stock Down 2.0 %

MTB stock opened at $193.63 on Friday. The stock has a fifty day moving average of $173.61 and a 200-day moving average of $159.31. M&T Bank has a fifty-two week low of $108.53 and a fifty-two week high of $200.94. The company has a market capitalization of $32.31 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 3.27 and a beta of 0.75. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were given a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a yield of 2.79%. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

Insider Buying and Selling at M&T Bank

In other news, EVP Michael J. Todaro sold 4,791 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $162.57, for a total transaction of $778,872.87. Following the transaction, the executive vice president now directly owns 3,086 shares in the company, valued at approximately $501,691.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Vice Chairman Gary N. Geisel sold 500 shares of M&T Bank stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total value of $86,250.00. Following the transaction, the insider now owns 16,429 shares in the company, valued at approximately $2,834,002.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael J. Todaro sold 4,791 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $162.57, for a total value of $778,872.87. Following the completion of the sale, the executive vice president now directly owns 3,086 shares of the company’s stock, valued at approximately $501,691.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,699 shares of company stock worth $4,943,119 over the last 90 days. Corporate insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

Large investors have recently bought and sold shares of the stock. Eastern Bank bought a new position in shares of M&T Bank in the third quarter worth approximately $381,000. Signaturefd LLC boosted its holdings in shares of M&T Bank by 7.5% during the third quarter. Signaturefd LLC now owns 1,895 shares of the financial services provider’s stock worth $338,000 after purchasing an additional 133 shares during the period. Sequoia Financial Advisors LLC grew its stake in shares of M&T Bank by 44.7% in the third quarter. Sequoia Financial Advisors LLC now owns 4,897 shares of the financial services provider’s stock worth $872,000 after purchasing an additional 1,513 shares during the last quarter. Foundations Investment Advisors LLC increased its holdings in M&T Bank by 14.8% during the 3rd quarter. Foundations Investment Advisors LLC now owns 2,167 shares of the financial services provider’s stock valued at $386,000 after purchasing an additional 280 shares during the period. Finally, Robinson Value Management Ltd. raised its position in M&T Bank by 1.4% during the 3rd quarter. Robinson Value Management Ltd. now owns 26,448 shares of the financial services provider’s stock valued at $4,711,000 after purchasing an additional 377 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

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.