Barclays Raises M&T Bank (NYSE:MTB) Price Target to $228.00

M&T Bank (NYSE:MTB) had its price target lifted by Barclays from $170.00 to $228.00 in a research report report published on Friday, Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

Other research analysts have also issued research reports about the stock. Evercore ISI upgraded shares of M&T Bank from an “in-line” rating to an “outperform” rating and upped their price target for the company from $187.00 to $210.00 in a research note on Wednesday, October 2nd. Jefferies Financial Group raised their target price on M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods boosted their price target 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. The Goldman Sachs Group increased their price objective on M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a report on Friday. Finally, Wells Fargo & Company downgraded M&T Bank from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $170.00 to $165.00 in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, M&T Bank currently has a consensus rating of “Hold” and a consensus price target of $197.47.

M&T Bank Price Performance

Shares of MTB stock opened at $193.63 on Friday. The firm has a market capitalization of $32.31 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 3.27 and a beta of 0.75. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00. The stock’s 50-day simple moving average is $173.61 and its 200-day simple moving average is $159.31. M&T Bank has a fifty-two week low of $108.53 and a fifty-two week high of $200.94.

M&T Bank Announces Dividend

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

Insider Transactions at M&T Bank

In other news, Director Denis J. Salamone sold 10,000 shares of the firm’s 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 sale, the director now directly owns 44,902 shares in the company, valued at $7,724,491.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $86,250.00. Following the transaction, the insider now directly owns 16,429 shares of the company’s stock, valued at approximately $2,834,002.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Denis J. Salamone sold 10,000 shares of the business’s 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 owns 44,902 shares of the company’s stock, valued at approximately $7,724,491.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,699 shares of company stock valued at $4,943,119 in the last ninety days. 0.82% of the stock is currently owned by corporate insiders.

Institutional Trading of M&T Bank

A number of institutional investors have recently made changes to their positions in the company. Ontario Teachers Pension Plan Board lifted its holdings in M&T Bank by 43.1% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 12,423 shares of the financial services provider’s stock valued at $1,807,000 after purchasing an additional 3,739 shares in the last quarter. Leuthold Group LLC purchased a new position in shares of M&T Bank in the first quarter worth about $3,125,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in M&T Bank by 7.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 497,503 shares of the financial services provider’s stock worth $72,357,000 after acquiring an additional 35,692 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in 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 acquiring an additional 18,566 shares in the last quarter. Finally, Gateway Investment Advisers LLC raised its holdings in 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 valued at $4,964,000 after acquiring an additional 12,304 shares during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

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.