M&T Bank Co. (NYSE:MTB) Receives $198.76 Consensus PT from Brokerages

M&T Bank Co. (NYSE:MTB) has been given an average rating of “Moderate Buy” by the sixteen ratings firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $198.76.

A number of research analysts recently weighed in on MTB shares. Piper Sandler increased their price objective on shares of M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. DA Davidson increased their price target on M&T Bank from $192.00 to $207.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Bank of America lifted their price objective on M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods increased their target price on M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Finally, Royal Bank of Canada raised their target price on M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th.

Insider Activity at M&T Bank

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $198.00, for a total transaction of $396,000.00. Following the sale, the director now directly owns 29,796 shares of the company’s stock, valued at $5,899,608. This trade 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 the SEC website. In other news, CEO Rene F. Jones sold 23,071 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 77,226 shares of the company’s stock, valued at approximately $14,972,576.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert E. Sadler, Jr. sold 2,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $198.00, for a total transaction of $396,000.00. Following the transaction, the director now owns 29,796 shares of the company’s stock, valued at approximately $5,899,608. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,848 shares of company stock worth $12,287,757. 0.82% of the stock is owned by corporate insiders.

Institutional Trading of M&T Bank

Hedge funds have recently bought and sold shares of the stock. Fidelis Capital Partners LLC bought a new stake in shares of M&T Bank in the first quarter worth about $30,000. Plato Investment Management Ltd increased its stake in M&T Bank by 2,300.0% in the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 161 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of M&T Bank during the 3rd quarter worth approximately $32,000. Hexagon Capital Partners LLC raised its holdings in shares of M&T Bank by 54.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 68 shares in the last quarter. Finally, Oakworth Capital Inc. purchased a new position in shares of M&T Bank in the second quarter valued at $35,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Price Performance

MTB opened at $207.95 on Tuesday. The company’s 50-day simple moving average is $181.20 and its two-hundred day simple moving average is $163.98. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 0.94. The stock has a market capitalization of $34.70 billion, a P/E ratio of 15.39, a P/E/G ratio of 2.70 and a beta of 0.74. M&T Bank has a 52-week low of $115.93 and a 52-week high of $216.84.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were given a dividend of $1.35 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a dividend yield of 2.60%. M&T Bank’s payout ratio is 39.97%.

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.