Barclays Issues Positive Forecast for M&T Bank (NYSE:MTB) Stock Price

M&T Bank (NYSE:MTB) had its target price lifted by Barclays from $228.00 to $235.00 in a research note released on Monday,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

A number of other brokerages also recently commented on MTB. Bank of America raised their price objective on shares of M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Piper Sandler raised their price target on M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Evercore ISI upped their price objective on M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods raised their target price on M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Compass Point boosted their target price on shares of M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, M&T Bank has an average rating of “Hold” and a consensus target price of $215.91.

M&T Bank Trading Up 0.8 %

Shares of MTB stock opened at $193.02 on Monday. The company has a market capitalization of $32.03 billion, a P/E ratio of 14.29, a price-to-earnings-growth ratio of 2.83 and a beta of 0.79. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44. The business’s 50 day moving average is $203.53 and its two-hundred day moving average is $181.13. M&T Bank has a twelve month low of $128.31 and a twelve month high of $225.70.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.30 billion. Equities analysts forecast that M&T Bank will post 14.63 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.80%. M&T Bank’s dividend payout ratio (DPR) is currently 39.97%.

Insider Buying and Selling at M&T Bank

In related news, CEO Rene F. Jones sold 23,071 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 77,226 shares of the company’s stock, valued at approximately $14,972,576.88. This trade represents a 23.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John P. Barnes sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $193.97, for a total transaction of $3,879,400.00. Following the transaction, the director now directly owns 49,960 shares of the company’s stock, valued at $9,690,741.20. This trade represents a 28.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 84,994 shares of company stock worth $17,211,278. Insiders own 0.82% of the company’s stock.

Institutional Trading of M&T Bank

Institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC boosted its holdings in 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 valued at $2,199,675,000 after acquiring an additional 1,508,846 shares during the last quarter. State Street Corp raised 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 period. Charles Schwab Investment Management Inc. lifted its stake in shares of M&T Bank by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock valued at $897,216,000 after purchasing an additional 190,837 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of M&T Bank by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,329,814 shares of the financial services provider’s stock worth $768,824,000 after purchasing an additional 66,337 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in M&T Bank by 4.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock worth $269,696,000 after purchasing an additional 81,004 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

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.