Truist Financial Lowers M&T Bank (NYSE:MTB) Price Target to $200.00

M&T Bank (NYSE:MTB - Free Report) had its target price reduced by Truist Financial from $225.00 to $200.00 in a report published on Tuesday,Benzinga reports. They currently have a buy rating on the financial services provider's stock.

Several other equities research analysts have also issued reports on MTB. Evercore ISI dropped their price target on M&T Bank from $234.00 to $205.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. JPMorgan Chase & Co. cut their target price on shares of M&T Bank from $212.50 to $186.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. StockNews.com upgraded M&T Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, February 5th. Wells Fargo & Company cut their target price on M&T Bank from $185.00 to $175.00 and set an "underweight" rating on the stock in a research note on Tuesday. Finally, Royal Bank of Canada dropped their price objective on shares of M&T Bank from $208.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, M&T Bank presently has an average rating of "Hold" and a consensus target price of $208.14.

M&T Bank Stock Up 0.8 %

Shares of MTB traded up $1.19 during trading on Tuesday, reaching $160.09. The company's stock had a trading volume of 1,105,142 shares, compared to its average volume of 1,112,880. M&T Bank has a twelve month low of $139.56 and a twelve month high of $225.70. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The company has a market cap of $26.30 billion, a price-to-earnings ratio of 10.94, a P/E/G ratio of 1.38 and a beta of 0.58. The company has a fifty day moving average of $177.25 and a two-hundred day moving average of $191.10.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings results on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the business posted $3.09 earnings per share. On average, sell-side analysts predict that M&T Bank will post 16.57 EPS for the current fiscal year.

M&T Bank announced that its Board of Directors has approved a share buyback program on Wednesday, January 22nd that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

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 dividend of $1.35 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.37%. M&T Bank's dividend payout ratio is 36.17%.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value of $299,526.92. Following the transaction, the executive vice president now owns 10,751 shares in the company, valued at approximately $1,852,827.34. This represents a 13.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.53% of the company's stock.

Institutional Investors Weigh In On M&T Bank

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

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.