The Goldman Sachs Group Raises M&T Bank (NYSE:MTB) Price Target to $216.00

M&T Bank (NYSE:MTB) had its price target hoisted by The Goldman Sachs Group from $190.00 to $216.00 in a report issued on Friday morning, MarketBeat reports. They currently have a neutral rating on the financial services provider’s stock.

Several other research analysts have also issued reports on MTB. Wolfe Research raised M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 target price for the company in a research report on Friday, October 4th. Evercore ISI upgraded M&T Bank from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $187.00 to $210.00 in a research report on Wednesday, October 2nd. DA Davidson increased their target price on shares of M&T Bank from $159.00 to $185.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Wells Fargo & Company downgraded shares of M&T Bank from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $170.00 to $165.00 in a research report on Thursday, August 15th. Finally, JPMorgan Chase & Co. upgraded shares of 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 research report on Tuesday, September 3rd. 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 stock. According to data from MarketBeat, M&T Bank has a consensus rating of “Hold” and a consensus price target of $197.47.

M&T Bank Stock Down 2.0 %

NYSE:MTB opened at $193.63 on Friday. M&T Bank has a one year low of $108.53 and a one year high of $200.94. 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 company has a market cap of $32.31 billion, a PE ratio of 13.09, a P/E/G ratio of 3.27 and a beta of 0.75. The firm’s 50 day simple moving average is $173.61 and its 200 day simple moving average is $159.31.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend was Tuesday, September 3rd. M&T Bank’s dividend payout ratio is currently 36.51%.

Insider Activity at M&T Bank

In other M&T Bank news, EVP Michael J. Todaro sold 4,791 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $162.57, for a total value of $778,872.87. Following the transaction, the executive vice president now directly owns 3,086 shares of the company’s stock, valued at approximately $501,691.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Vice Chairman Gary N. Geisel sold 500 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total transaction of $86,250.00. Following the transaction, the insider now directly owns 16,429 shares of the company’s stock, valued at $2,834,002.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael J. Todaro sold 4,791 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $162.57, for a total transaction of $778,872.87. Following the transaction, the executive vice president now owns 3,086 shares in the company, valued at approximately $501,691.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,699 shares of company stock valued at $4,943,119. 0.82% of the stock is owned by company insiders.

Hedge Funds Weigh In On M&T Bank

Several hedge funds have recently modified their holdings of the company. Ontario Teachers Pension Plan Board grew its holdings in shares of M&T Bank by 43.1% in the first quarter. Ontario Teachers Pension Plan Board now owns 12,423 shares of the financial services provider’s stock valued at $1,807,000 after acquiring an additional 3,739 shares in the last quarter. Leuthold Group LLC bought a new position in M&T Bank in the 1st quarter valued at $3,125,000. Sumitomo Mitsui Trust Holdings Inc. grew its stake in M&T Bank by 7.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 497,503 shares of the financial services provider’s stock valued at $72,357,000 after purchasing an additional 35,692 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of M&T Bank by 5.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 331,868 shares of the financial services provider’s stock valued at $48,267,000 after purchasing an additional 18,566 shares during the last quarter. Finally, Gateway Investment Advisers LLC boosted its holdings in shares of M&T Bank by 60.0% in the 2nd quarter. Gateway Investment Advisers LLC now owns 32,799 shares of the financial services provider’s stock worth $4,964,000 after buying an additional 12,304 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.