M&T Bank (NYSE:MTB) Given New $218.00 Price Target at Bank of America

M&T Bank (NYSE:MTB) had its price objective increased by Bank of America from $188.00 to $218.00 in a research report sent to investors on Friday morning, Benzinga reports. Bank of America currently has a buy rating on the financial services provider’s stock.

Other equities research analysts also recently issued reports about the company. Barclays raised their target price on M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a report on Friday. DA Davidson boosted their target price 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. Wedbush lifted their price target on shares of M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Morgan Stanley boosted their price objective on shares of M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, Keefe, Bruyette & Woods raised their target price on M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $197.47.

M&T Bank Stock Down 2.0 %

Shares of NYSE MTB opened at $193.63 on Friday. The stock has a fifty day moving average price of $173.61 and a 200 day moving average price of $159.31. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. M&T Bank has a 12-month low of $108.53 and a 12-month high of $200.94. The company has a market cap of $32.31 billion, a P/E ratio of 13.09, a P/E/G ratio of 3.27 and a beta of 0.75.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.79%. M&T Bank’s payout ratio is currently 36.51%.

Insider Activity

In related news, Director Denis J. Salamone sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the sale, the director now owns 44,902 shares in the company, valued at $7,724,491.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Vice Chairman Gary N. Geisel sold 500 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total transaction of $86,250.00. Following the completion of the transaction, the insider now owns 16,429 shares of the company’s stock, valued at approximately $2,834,002.50. 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 can be accessed through the SEC website. Also, Director Denis J. Salamone sold 10,000 shares of the stock in a transaction dated 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 sale, the director now directly owns 44,902 shares in the company, valued at approximately $7,724,491.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 31,699 shares of company stock valued at $4,943,119. Company insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

Several large investors have recently made changes to their positions in MTB. Fisher Asset Management LLC increased its position in M&T Bank by 2.8% in the 4th quarter. Fisher Asset Management LLC now owns 15,878 shares of the financial services provider’s stock valued at $2,177,000 after acquiring an additional 439 shares during the period. Quadrature Capital Ltd purchased a new position in M&T Bank in the 4th quarter worth about $788,000. GAMMA Investing LLC boosted its stake in M&T Bank by 25.0% in the 1st quarter. GAMMA Investing LLC now owns 1,534 shares of the financial services provider’s stock worth $223,000 after purchasing an additional 307 shares during the period. Fulton Bank N.A. boosted its position in shares of 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 buying an additional 81 shares during the period. Finally, Czech National Bank grew its stake in M&T Bank by 0.8% during the 1st quarter. Czech National Bank now owns 29,301 shares of the financial services provider’s stock valued at $4,262,000 after acquiring an additional 235 shares in the last quarter. Institutional investors and hedge funds 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.