DA Davidson Increases M&T Bank (NYSE:MTB) Price Target to $207.00

M&T Bank (NYSE:MTB) had its target price upped by DA Davidson from $192.00 to $207.00 in a research report report published on Monday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock. DA Davidson also issued estimates for M&T Bank’s Q4 2024 earnings at $3.78 EPS, FY2024 earnings at $14.48 EPS and FY2025 earnings at $16.36 EPS.

Several other equities analysts have also recently issued reports on MTB. Royal Bank of Canada boosted their price target on shares of M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Piper Sandler increased their target price on M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Wells Fargo & Company raised their target price on M&T Bank from $165.00 to $190.00 and gave the company an “underweight” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods upped their price target on 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. Finally, Citigroup raised their price objective on M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $197.47.

M&T Bank Stock Performance

NYSE:MTB opened at $194.50 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.44. The firm’s fifty day simple moving average is $174.96 and its 200 day simple moving average is $159.94. The stock has a market cap of $32.45 billion, a P/E ratio of 13.15, a price-to-earnings-growth ratio of 3.27 and a beta of 0.75. M&T Bank has a twelve month low of $108.53 and a twelve month high of $200.94.

M&T Bank Announces Dividend

The firm also recently disclosed 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 was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a yield of 2.78%. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

Insider Buying and Selling at M&T Bank

In other news, Vice Chairman Kevin J. Pearson sold 6,095 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $162.28, for a total transaction of $989,096.60. Following the transaction, the insider now directly owns 47,944 shares of the company’s stock, valued at $7,780,352.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Kirk W. Walters sold 2,471 shares of M&T Bank stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.60, for a total value of $60,786.60. Following the completion of the sale, the director now directly owns 20,414 shares in the company, valued at $502,184.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Kevin J. Pearson sold 6,095 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $162.28, for a total transaction of $989,096.60. Following the transaction, the insider now directly owns 47,944 shares of the company’s stock, valued at $7,780,352.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,735 shares of company stock worth $7,437,757. Insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

A number of large investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP increased its position in M&T Bank by 232.1% during the second quarter. Marshall Wace LLP now owns 676,745 shares of the financial services provider’s stock valued at $102,432,000 after acquiring an additional 472,997 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in shares of M&T Bank by 77.0% during the 2nd quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock valued at $110,993,000 after purchasing an additional 319,051 shares during the period. Canoe Financial LP increased its position in shares of M&T Bank by 29.4% during the 3rd quarter. Canoe Financial LP now owns 588,302 shares of the financial services provider’s stock valued at $103,200,000 after purchasing an additional 133,748 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of M&T Bank by 17,784.1% in the third quarter. International Assets Investment Management LLC now owns 110,166 shares of the financial services provider’s stock worth $19,623,000 after buying an additional 109,550 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in M&T Bank by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock valued at $244,129,000 after buying an additional 93,113 shares during the period. Institutional investors own 84.68% of the company’s stock.

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.