M&T Bank (NYSE:MTB) Price Target Raised to $210.00

M&T Bank (NYSE:MTB) had its price objective hoisted by Wedbush from $208.00 to $210.00 in a report published on Tuesday morning, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock. Wedbush also issued estimates for M&T Bank’s Q3 2024 earnings at $3.61 EPS, Q4 2024 earnings at $3.69 EPS, FY2024 earnings at $14.20 EPS, Q1 2025 earnings at $3.55 EPS, Q2 2025 earnings at $3.96 EPS, Q3 2025 earnings at $4.19 EPS, Q4 2025 earnings at $4.30 EPS, FY2025 earnings at $16.00 EPS and FY2026 earnings at $17.85 EPS.

Other research analysts have also issued reports about the stock. StockNews.com raised shares of M&T Bank from a sell rating to a hold rating in a research note on Friday, July 19th. Royal Bank of Canada boosted their price target on shares of M&T Bank from $160.00 to $174.00 and gave the stock an outperform rating in a research report on Friday, July 19th. Bank of America boosted their price target on shares of M&T Bank from $160.00 to $188.00 and gave the stock a buy rating in a research report on Monday, July 22nd. DA Davidson boosted their price target on shares of M&T Bank from $159.00 to $185.00 and gave the stock a neutral rating in a research report on Friday, July 19th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of M&T Bank from $170.00 to $180.00 and gave the stock a market perform rating in a research report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, M&T Bank has a consensus rating of Hold and an average target price of $178.35.

M&T Bank Trading Up 0.1 %

NYSE MTB opened at $175.38 on Tuesday. M&T Bank has a one year low of $108.53 and a one year high of $180.63. The company has a 50-day simple moving average of $168.40 and a 200-day simple moving average of $154.33. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $29.26 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 3.55 and a beta of 0.76.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. The firm had revenue of $3.37 billion during the quarter, compared to analyst estimates of $2.27 billion. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. During the same period in the previous year, the business posted $5.12 EPS. On average, equities analysts forecast that M&T Bank will post 14.23 earnings per share for the current year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be issued a $1.35 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.08%. M&T Bank’s payout ratio is currently 36.51%.

Insider Buying and Selling

In related news, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total value of $1,720,300.00. Following the sale, the director now directly owns 44,902 shares in the company, valued at approximately $7,724,491.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 transaction, the director now directly owns 20,414 shares of the company’s stock, valued at $502,184.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the completion of the transaction, the director now directly owns 44,902 shares in the company, valued at $7,724,491.06. The disclosure for this sale can be found here. Insiders have sold 32,699 shares of company stock worth $5,115,349 in the last ninety days. 0.82% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Meeder Advisory Services Inc. grew its position in M&T Bank by 3.9% in the first quarter. Meeder Advisory Services Inc. now owns 1,879 shares of the financial services provider’s stock worth $273,000 after acquiring an additional 70 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in M&T Bank by 1.5% in the second quarter. Massmutual Trust Co. FSB ADV now owns 4,711 shares of the financial services provider’s stock worth $713,000 after acquiring an additional 70 shares in the last quarter. Umpqua Bank grew its position in M&T Bank by 5.3% in the second quarter. Umpqua Bank now owns 1,460 shares of the financial services provider’s stock worth $221,000 after acquiring an additional 73 shares in the last quarter. Fulton Bank N.A. grew its position in M&T Bank by 2.3% in the first quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider’s stock worth $526,000 after acquiring an additional 81 shares in the last quarter. Finally, Tritonpoint Wealth LLC grew its position in M&T Bank by 2.3% in the first quarter. Tritonpoint Wealth LLC now owns 3,833 shares of the financial services provider’s stock worth $510,000 after acquiring an additional 87 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other 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.