M&T Bank's (MTB) "Buy" Rating Reiterated at Truist Financial

Truist Financial restated their buy rating on shares of M&T Bank (NYSE:MTB - Free Report) in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a $236.00 price target on the financial services provider's stock, up from their previous price target of $233.00.

A number of other research firms also recently commented on MTB. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $223.50 target price (up from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. Evercore ISI increased their price objective on shares of M&T Bank from $210.00 to $232.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Wolfe Research upgraded shares of M&T Bank from a "peer perform" rating to an "outperform" rating and set a $210.00 target price on the stock in a report on Friday, October 4th. Piper Sandler increased their price target on shares of M&T Bank from $205.00 to $243.00 and gave the company an "overweight" rating in a report on Wednesday, November 27th. Finally, Keefe, Bruyette & Woods boosted their price objective on M&T Bank from $205.00 to $221.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $221.68.

M&T Bank Price Performance

NYSE MTB traded up $0.78 during trading hours on Friday, reaching $196.88. The company's stock had a trading volume of 2,029,408 shares, compared to its average volume of 1,013,933. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. M&T Bank has a 1 year low of $128.31 and a 1 year high of $225.70. The firm's 50-day moving average price is $202.41 and its 200-day moving average price is $183.49. The company has a market capitalization of $32.67 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 2.16 and a beta of 0.79.

M&T Bank (NYSE:MTB - Get Free Report) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, topping analysts' consensus estimates 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 last year, the business earned $2.74 earnings per share. On average, equities research analysts predict that M&T Bank will post 14.58 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company 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. This represents a $5.40 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date was Monday, December 2nd. M&T Bank's dividend payout ratio (DPR) is presently 39.97%.

Insiders Place Their Bets

In other news, Director John P. Barnes sold 20,000 shares of the business's 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 sale, the director now owns 49,960 shares in the company, valued at approximately $9,690,741.20. The trade was a 28.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John R. Taylor sold 1,436 shares of M&T Bank stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $195.03, for a total transaction of $280,063.08. Following the transaction, the executive vice president now directly owns 5,618 shares in the company, valued at approximately $1,095,678.54. The trade was a 20.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,994 shares of company stock worth $17,211,278. 0.82% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On M&T Bank

Hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its stake in M&T Bank by 13.9% in the third quarter. FMR LLC now owns 12,349,398 shares of the financial services provider's stock valued at $2,199,675,000 after acquiring an additional 1,508,846 shares in the last quarter. State Street Corp boosted its position in shares of M&T Bank by 6.4% in the 3rd quarter. State Street Corp now owns 8,773,439 shares of the financial services provider's stock worth $1,562,725,000 after purchasing an additional 527,854 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in M&T Bank by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider's stock worth $897,216,000 after buying an additional 190,837 shares during the last quarter. Geode Capital Management LLC increased its position in M&T Bank by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,329,814 shares of the financial services provider's stock valued at $768,824,000 after buying an additional 66,337 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its stake in M&T Bank by 3.2% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,398,199 shares of the financial services provider's stock valued at $211,631,000 after buying an additional 43,795 shares during the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

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.