Piper Sandler Issues Pessimistic Forecast for M&T Bank (NYSE:MTB) Stock Price

M&T Bank (NYSE:MTB - Free Report) had its price objective decreased by Piper Sandler from $220.00 to $210.00 in a research report released on Tuesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider's stock.

Several other equities research analysts have also issued reports on MTB. Wells Fargo & Company dropped their price objective on shares of M&T Bank from $185.00 to $175.00 and set an "underweight" rating for the company in a research report on Tuesday. Truist Financial decreased their target price on M&T Bank from $236.00 to $225.00 and set a "buy" rating for the company in a research report on Friday, April 4th. JPMorgan Chase & Co. decreased their price target on M&T Bank from $212.50 to $186.50 and set a "neutral" rating for the company in a report on Thursday, April 3rd. StockNews.com upgraded shares of M&T Bank from a "sell" rating to a "hold" rating in a research note on Wednesday, February 5th. Finally, Morgan Stanley dropped their price target on shares of M&T Bank from $269.00 to $253.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $208.14.

M&T Bank Trading Up 0.8 %

NYSE MTB traded up $1.19 during trading hours on Tuesday, hitting $160.09. 1,105,142 shares of the company's stock were exchanged, compared to its average volume of 1,112,880. The business's 50 day moving average is $177.25 and its 200-day moving average is $191.10. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. M&T Bank has a 12-month low of $139.56 and a 12-month high of $225.70. The firm has a market capitalization of $26.30 billion, a P/E ratio of 10.94, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.41 by ($0.03). M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. The company had revenue of $2.31 billion for the quarter, compared to analysts' expectations of $2.35 billion. During the same period in the prior year, the firm earned $3.09 earnings per share. As a group, analysts anticipate that M&T Bank will post 16.57 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend was Monday, March 3rd. M&T Bank's dividend payout ratio (DPR) is presently 36.17%.

M&T Bank announced that its Board of Directors has authorized a share repurchase plan on Wednesday, January 22nd that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the sale, the executive vice president now directly owns 10,751 shares in the company, valued at approximately $1,852,827.34. This trade represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.53% of the stock is owned by company insiders.

Institutional Trading of M&T Bank

Large investors have recently modified their holdings of the company. Wood Tarver Financial Group LLC bought a new position in M&T Bank in the 4th quarter worth about $29,000. Banque Transatlantique SA bought a new position in M&T Bank in the 4th quarter worth approximately $38,000. Y.D. More Investments Ltd increased its position in M&T Bank by 122.6% in the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 114 shares during the period. Grove Bank & Trust boosted its position in M&T Bank by 104.6% during the 1st quarter. Grove Bank & Trust now owns 223 shares of the financial services provider's stock worth $40,000 after acquiring an additional 114 shares during the period. Finally, Human Investing LLC bought a new position in shares of M&T Bank in the fourth quarter worth $44,000. Institutional investors and hedge funds own 84.68% of the company's stock.

M&T Bank Company Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.