M&T Bank’s (MTB) Buy Rating Reiterated at Truist Financial

Truist Financial restated their buy rating on shares of M&T Bank (NYSE:MTB) in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a $236.00 target price on the financial services provider’s stock, up from their previous target price of $233.00.

MTB has been the subject of several other reports. 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. Citigroup downgraded shares of M&T Bank from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $220.00 to $230.00 in a report on Monday, November 25th. Compass Point lifted their price objective 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. JPMorgan Chase & Co. reissued a “neutral” rating and set a $223.50 target price (up from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. Finally, Barclays lifted their price target on shares of M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and a consensus price target of $221.68.

M&T Bank Stock Up 0.4 %

M&T Bank stock opened at $196.88 on Friday. M&T Bank has a fifty-two week low of $128.31 and a fifty-two week high of $225.70. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99. The firm’s 50-day simple moving average is $202.41 and its 200 day simple moving average is $183.71. The stock has a market cap of $32.67 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 2.16 and a beta of 0.79.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. During the same period in the prior year, the firm posted $2.74 EPS. Research analysts predict that M&T Bank will post 14.58 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.40 annualized dividend and a yield of 2.74%. M&T Bank’s dividend payout ratio is currently 39.97%.

Insider Buying and Selling

In other news, Vice Chairman Gary N. Geisel sold 2,490 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total transaction of $537,566.10. Following the completion of the transaction, the insider now owns 16,429 shares of the company’s stock, valued at approximately $3,546,856.81. The trade was a 13.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Kevin J. Pearson sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $195.88, for a total transaction of $1,469,100.00. Following the completion of the transaction, the insider now owns 40,502 shares in the company, valued at approximately $7,933,531.76. This trade represents a 15.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 84,994 shares of company stock valued at $17,211,278. Company insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its stake in M&T Bank by 13.9% during the third quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock worth $2,199,675,000 after purchasing 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% during the 3rd quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock valued at $1,562,725,000 after buying an additional 527,854 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in 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 worth $897,216,000 after buying an additional 190,837 shares during the last quarter. Geode Capital Management LLC boosted its stake in M&T Bank by 1.6% in the third quarter. Geode Capital Management LLC now owns 4,329,814 shares of the financial services provider’s stock worth $768,824,000 after buying an additional 66,337 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its position in M&T Bank by 3.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,398,199 shares of the financial services provider’s stock valued at $211,631,000 after acquiring an additional 43,795 shares during the last quarter. 84.68% of the stock is currently 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.