M&T Bank Co. (NYSE:MTB) Receives $221.68 Average Price Target from Analysts

Shares of M&T Bank Co. (NYSE:MTB - Get Free Report) have received a consensus rating of "Hold" from the seventeen research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $221.68.

MTB has been the subject of a number of analyst reports. The Goldman Sachs Group raised their price objective on shares of M&T Bank from $216.00 to $243.00 and gave the stock a "neutral" rating in a report on Tuesday, November 26th. Wedbush upped their price objective on M&T Bank from $208.00 to $210.00 and gave the company an "outperform" rating in a research note on Tuesday, September 24th. Piper Sandler raised their target price on M&T Bank from $205.00 to $243.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 27th. Keefe, Bruyette & Woods upped their price target on M&T Bank from $205.00 to $221.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Finally, Barclays lifted their price objective on M&T Bank from $228.00 to $235.00 and gave the company an "equal weight" rating in a report on Monday, January 6th.

Insider Transactions at M&T Bank

In related news, Vice Chairman Gary N. Geisel sold 2,490 shares of M&T Bank stock in a transaction on 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 sale, the insider now directly owns 16,429 shares of the company's stock, valued at $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 is available at this link. Also, Director John P. Barnes sold 20,000 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $193.97, for a total value of $3,879,400.00. Following the completion of the transaction, the director now directly owns 49,960 shares in the company, valued at $9,690,741.20. The trade was a 28.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 84,994 shares of company stock worth $17,211,278 in the last quarter. 0.82% of the stock is owned by company insiders.

Institutional Investors Weigh In On M&T Bank

Large investors have recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in shares of M&T Bank in the 3rd quarter valued at $44,000. Principal Financial Group Inc. grew its stake in M&T Bank by 1.4% in the third quarter. Principal Financial Group Inc. now owns 199,111 shares of the financial services provider's stock valued at $35,466,000 after acquiring an additional 2,797 shares during the period. Smead Capital Management Inc. increased its holdings in shares of M&T Bank by 3.5% in the third quarter. Smead Capital Management Inc. now owns 493,817 shares of the financial services provider's stock worth $87,959,000 after acquiring an additional 16,657 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of M&T Bank by 6.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 50,275 shares of the financial services provider's stock worth $8,955,000 after purchasing an additional 2,883 shares during the period. Finally, National Pension Service lifted its holdings in shares of M&T Bank by 5.2% during the 3rd quarter. National Pension Service now owns 268,138 shares of the financial services provider's stock valued at $47,761,000 after purchasing an additional 13,302 shares in the last quarter. Institutional investors own 84.68% of the company's stock.

M&T Bank Stock Performance

NYSE:MTB traded up $0.78 during mid-day trading on Friday, hitting $196.88. 2,029,408 shares of the company's stock traded hands, compared to its average volume of 1,013,933. 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 firm has a 50 day moving average of $202.41 and a two-hundred day moving average of $183.71. The firm has a market capitalization of $32.67 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 2.16 and a beta of 0.79. M&T Bank has a 12 month low of $128.31 and a 12 month high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.70 by $0.22. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. During the same quarter in the prior year, the business posted $2.74 EPS. On average, equities analysts forecast that M&T Bank will post 14.58 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders 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 2.74%. M&T Bank's payout ratio is presently 39.97%.

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.