Brokerages Set M&T Bank Co. (NYSE:MTB) PT at $221.68

M&T Bank Co. (NYSE:MTB) has been assigned a consensus recommendation of “Hold” from the seventeen ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $221.68.

A number of equities analysts have recently weighed in on MTB shares. Citigroup cut shares of M&T Bank from a “buy” rating to a “neutral” rating and upped their price target for the stock from $220.00 to $230.00 in a research note on Monday, November 25th. The Goldman Sachs Group lifted their price target on shares of M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Royal Bank of Canada boosted their price target on M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Piper Sandler raised their price objective on M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Finally, Bank of America boosted their target price on M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a research report on Friday, October 18th.

M&T Bank Stock Up 0.8 %

M&T Bank stock opened at $198.25 on Friday. The firm has a market capitalization of $32.89 billion, a P/E ratio of 13.55, a P/E/G ratio of 2.26 and a beta of 0.79. The stock’s fifty day simple moving average is $202.06 and its 200-day simple moving average is $184.29. M&T Bank has a twelve month low of $128.31 and a twelve month high of $225.70. The company has a current ratio of 0.93, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, topping the consensus estimate of $3.70 by $0.22. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same quarter in the prior year, the firm posted $2.74 earnings per share. As a group, equities analysts expect that M&T Bank will post 16.33 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were given a $1.35 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.72%. M&T Bank’s dividend payout ratio is presently 36.91%.

Insider Buying and Selling at M&T Bank

In other news, EVP Tracy S. Woodrow sold 2,121 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total transaction of $468,210.75. Following the completion of the transaction, the executive vice president now directly owns 5,141 shares in the company, valued at $1,134,875.75. This represents a 29.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total value of $537,566.10. Following the transaction, the insider now directly owns 16,429 shares of the company’s stock, valued at $3,546,856.81. This trade represents a 13.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 64,994 shares of company stock valued at $13,331,878 in the last 90 days. 0.82% of the stock is currently owned by company insiders.

Institutional Trading of M&T Bank

A number of hedge funds have recently modified their holdings of the stock. Plato Investment Management Ltd raised its position in shares of 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 valued at $30,000 after buying an additional 161 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in M&T Bank during the 3rd quarter worth $32,000. Hexagon Capital Partners LLC lifted its stake in shares of M&T Bank by 54.4% in the third 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 during the period. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of M&T Bank by 329.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 158 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in M&T Bank in the third quarter valued at $44,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

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.