Barclays Lowers M&T Bank (NYSE:MTB) Price Target to $220.00

M&T Bank (NYSE:MTB - Free Report) had its target price cut by Barclays from $235.00 to $220.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an equal weight rating on the financial services provider's stock.

Several other analysts also recently weighed in on MTB. StockNews.com raised M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, February 5th. Wells Fargo & Company decreased their price objective on M&T Bank from $205.00 to $185.00 and set an "underweight" rating for the company in a report on Friday, March 28th. Morgan Stanley cut their target price on shares of M&T Bank from $269.00 to $253.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. JPMorgan Chase & Co. decreased their price target on shares of M&T Bank from $212.50 to $186.50 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Finally, Truist Financial dropped their price objective on shares of M&T Bank from $236.00 to $225.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, M&T Bank has an average rating of "Hold" and a consensus price target of $208.14.

M&T Bank Stock Up 0.8 %

Shares of M&T Bank stock traded up $1.19 during trading on Tuesday, hitting $160.09. 1,105,142 shares of the stock were exchanged, compared to its average volume of 1,112,880. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99. The firm's 50-day moving average price is $178.03 and its 200 day moving average price is $191.19. The stock has a market cap of $26.30 billion, a price-to-earnings ratio of 10.94, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. M&T Bank has a 12-month low of $139.56 and a 12-month high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last released 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 return on equity of 10.12% and a net margin of 19.24%. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the company posted $3.09 earnings per share. As a group, analysts forecast that M&T Bank will post 16.57 earnings per share for the current fiscal year.

M&T Bank declared that its board has initiated a stock buyback program on Wednesday, January 22nd that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board believes its stock is undervalued.

M&T Bank Announces Dividend

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

Insiders Place Their Bets

In other news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank 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 of the company's stock, valued at $1,852,827.34. The trade was a 13.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.53% of the stock is owned by insiders.

Institutional Investors Weigh In On M&T Bank

Large investors have recently modified their holdings of the stock. FMR LLC lifted its position in shares of M&T Bank by 14.3% in the 4th quarter. FMR LLC now owns 14,110,412 shares of the financial services provider's stock valued at $2,652,899,000 after acquiring an additional 1,761,014 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of M&T Bank by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,289,727 shares of the financial services provider's stock worth $994,522,000 after purchasing an additional 252,583 shares during the period. Geode Capital Management LLC increased its stake in shares of M&T Bank by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,370,762 shares of the financial services provider's stock worth $819,768,000 after acquiring an additional 40,948 shares during the last quarter. Norges Bank purchased a new stake in shares of M&T Bank during the 4th quarter worth about $317,690,000. Finally, Northern Trust Corp raised its position in M&T Bank by 14.7% during the fourth quarter. Northern Trust Corp now owns 1,683,329 shares of the financial services provider's stock valued at $316,483,000 after acquiring an additional 215,100 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

About M&T Bank

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.