M&T Bank (NYSE:MTB) Given New $190.00 Price Target at Wells Fargo & Company

M&T Bank (NYSE:MTB) had its target price lifted by Wells Fargo & Company from $165.00 to $190.00 in a report released on Friday morning, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the financial services provider’s stock.

Several other analysts have also issued reports on the company. Bank of America increased their price objective on M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a report on Friday. The Goldman Sachs Group lifted their price target on M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a report on Friday. JPMorgan Chase & Co. upgraded M&T Bank from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $183.00 to $215.00 in a report on Tuesday, September 3rd. Piper Sandler lifted their target price on shares of M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Finally, Jefferies Financial Group increased their price target on shares of M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $197.47.

M&T Bank Price Performance

NYSE MTB opened at $193.63 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $32.31 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 3.27 and a beta of 0.75. The company has a 50 day simple moving average of $173.61 and a 200-day simple moving average of $159.31. M&T Bank has a 52-week low of $108.53 and a 52-week high of $200.94.

M&T Bank Dividend Announcement

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

Insider Transactions at M&T Bank

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 500 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total value of $86,250.00. Following the completion of the sale, the insider now directly owns 16,429 shares of the company’s stock, valued at $2,834,002.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other M&T Bank news, Vice Chairman Gary N. Geisel sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total value of $86,250.00. Following the completion of the sale, the insider now owns 16,429 shares in the company, valued at approximately $2,834,002.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $1,720,300.00. Following the sale, the director now directly owns 44,902 shares in the company, valued at $7,724,491.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,699 shares of company stock worth $4,943,119. Insiders own 0.82% of the company’s stock.

Institutional Trading of M&T Bank

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC bought a new position in M&T Bank during the first quarter worth about $30,000. Hexagon Capital Partners LLC grew its holdings in shares of M&T Bank by 54.4% in the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 68 shares during the last quarter. Oakworth Capital Inc. acquired a new stake in shares of M&T Bank during the 2nd quarter worth about $35,000. nVerses Capital LLC acquired a new position in M&T Bank in the third quarter valued at about $53,000. Finally, Versant Capital Management Inc grew its stake in M&T Bank by 82.7% during the second quarter. Versant Capital Management Inc now owns 444 shares of the financial services provider’s stock worth $67,000 after buying an additional 201 shares during the last quarter. 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.