M&T Bank (NYSE:MTB) Price Target Raised to $250.00 at Compass Point

M&T Bank (NYSE:MTB) had its price objective hoisted by Compass Point from $220.00 to $250.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

MTB has been the topic of several other research reports. The Goldman Sachs Group increased their target price on M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Citigroup cut shares of M&T Bank from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $220.00 to $230.00 in a research report on Monday, November 25th. Barclays increased their price target on shares of M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $223.50 target price (up previously from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. Finally, Wolfe Research upgraded M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, M&T Bank currently has a consensus rating of “Hold” and a consensus price target of $211.58.

M&T Bank Trading Down 1.0 %

Shares of MTB opened at $199.90 on Tuesday. M&T Bank has a 12-month low of $128.31 and a 12-month high of $225.70. The firm has a market capitalization of $33.17 billion, a P/E ratio of 14.80, a P/E/G ratio of 2.96 and a beta of 0.76. The firm has a 50-day moving average price of $202.08 and a 200 day moving average price of $175.20. 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 released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. Sell-side analysts forecast that M&T Bank will post 14.63 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Monday, December 2nd. M&T Bank’s payout ratio is 39.97%.

Insider Transactions at M&T Bank

In other news, Vice Chairman Gary N. Geisel sold 2,490 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total value of $537,566.10. Following the transaction, the insider now owns 16,429 shares of the company’s stock, valued at approximately $3,546,856.81. This trade represents a 13.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Rene F. Jones sold 23,071 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $193.88, for a total value of $4,473,005.48. Following the completion of the transaction, the chief executive officer now directly owns 77,226 shares in the company, valued at $14,972,576.88. This trade represents a 23.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 84,994 shares of company stock worth $17,211,278 over the last quarter. 0.82% of the stock is currently owned by insiders.

Institutional Trading of M&T Bank

A number of hedge funds have recently made changes to their positions in the company. FMR LLC lifted 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 acquiring an additional 1,508,846 shares in the last quarter. State Street Corp lifted its holdings in shares of 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 purchasing an additional 527,854 shares during the last quarter. Marshall Wace LLP grew its position in shares of 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 worth $102,432,000 after acquiring an additional 472,997 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in shares of M&T Bank by 77.0% in the second 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. Finally, Zurich Insurance Group Ltd FI acquired a new stake in M&T Bank in the 3rd quarter valued at approximately $44,422,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

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.