M&T Bank (NYSE:MTB) Price Target Increased to $220.00 by Analysts at Morgan Stanley

M&T Bank (NYSE:MTB) had its target price hoisted by Morgan Stanley from $195.00 to $220.00 in a research report sent to investors on Monday, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other equities research analysts have also issued reports on MTB. StockNews.com upgraded M&T Bank from a sell rating to a hold rating in a research note on Friday, July 19th. Bank of America boosted their target price on shares of M&T Bank from $160.00 to $188.00 and gave the stock a buy rating in a research report on Monday, July 22nd. Wedbush reaffirmed an outperform rating and set a $170.00 price target on shares of M&T Bank in a report on Wednesday, April 10th. Keefe, Bruyette & Woods lifted their price target on shares of M&T Bank from $170.00 to $180.00 and gave the stock a market perform rating in a research note on Friday, July 19th. Finally, Piper Sandler upped their price objective on shares of M&T Bank from $164.00 to $190.00 and gave the company an overweight rating in a research report on Monday, July 22nd. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $172.92.

M&T Bank Trading Up 0.2 %

Shares of NYSE MTB traded up $0.34 during trading on Monday, hitting $160.31. 959,097 shares of the company traded hands, compared to its average volume of 1,046,213. The company has a quick ratio of 1.00, a current ratio of 0.94 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $26.75 billion, a P/E ratio of 10.90, a P/E/G ratio of 3.34 and a beta of 0.77. The company has a 50-day moving average price of $154.28 and a 200-day moving average price of $146.55. M&T Bank has a 1 year low of $108.53 and a 1 year high of $176.44.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. The firm had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the previous year, the business earned $5.12 earnings per share. On average, equities analysts predict that M&T Bank will post 14.24 EPS for the current year.

M&T Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were paid a dividend of $1.35 per share. This is a positive change from M&T Bank’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $5.40 annualized dividend and a yield of 3.37%. M&T Bank’s payout ratio is presently 36.51%.

Insider Transactions at M&T Bank

In other news, Director Kirk W. Walters sold 7,464 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $173.97, for a total transaction of $1,298,512.08. Following the sale, the director now directly owns 15,045 shares in the company, valued at approximately $2,617,378.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Robert E. Sadler, Jr. sold 1,000 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total transaction of $172,230.00. Following the transaction, the director now directly owns 31,796 shares of the company’s stock, valued at $5,476,225.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kirk W. Walters sold 7,464 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $173.97, for a total transaction of $1,298,512.08. Following the transaction, the director now directly owns 15,045 shares in the company, valued at approximately $2,617,378.65. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,986 shares of company stock worth $9,730,154. 0.82% of the stock is currently owned by insiders.

Institutional Investors Weigh In On M&T Bank

Hedge funds and other institutional investors have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA raised its position in shares of M&T Bank by 0.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,730,853 shares of the financial services provider’s stock worth $237,265,000 after purchasing an additional 4,419 shares during the period. Norges Bank acquired a new position in shares of M&T Bank in the fourth quarter worth about $232,322,000. Bank of New York Mellon Corp boosted its holdings in shares of M&T Bank by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 1,513,452 shares of the financial services provider’s stock worth $229,076,000 after buying an additional 44,442 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of M&T Bank by 7.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,451,856 shares of the financial services provider’s stock worth $199,037,000 after buying an additional 100,008 shares during the period. Finally, Los Angeles Capital Management LLC boosted its holdings in shares of M&T Bank by 77.0% in the second quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock worth $110,993,000 after buying an additional 319,051 shares during the period. 84.68% of the stock is currently owned by institutional investors.

About M&T Bank

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.