M&T Bank (NYSE:MTB) Price Target Raised to $208.00 at Royal Bank of Canada

M&T Bank (NYSE:MTB) had its price objective hoisted by Royal Bank of Canada from $190.00 to $208.00 in a research note released on Friday, MarketBeat reports. Royal Bank of Canada currently has an outperform rating on the financial services provider’s stock.

A number of other analysts have also recently weighed in on the stock. Evercore ISI upgraded shares of M&T Bank from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $187.00 to $210.00 in a research note on Wednesday, October 2nd. Wolfe Research upgraded shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price target for the company in a report on Friday, October 4th. JPMorgan Chase & Co. upgraded M&T Bank from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $183.00 to $215.00 in a research note on Tuesday, September 3rd. Jefferies Financial Group boosted their price objective on M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Finally, Citigroup lifted their price target on M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, M&T Bank has an average rating of “Hold” and a consensus price target of $196.18.

M&T Bank Trading Down 0.7 %

M&T Bank stock opened at $197.55 on Friday. M&T Bank has a one year low of $108.53 and a one year high of $200.94. The company’s fifty day moving average price is $172.93 and its two-hundred day moving average price is $158.65. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $32.96 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 3.27 and a beta of 0.75.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 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 business had revenue of $3.37 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the prior year, the firm posted $5.12 EPS. On average, analysts forecast that M&T Bank will post 14.16 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s dividend payout ratio is 36.51%.

Insider Activity

In related news, Director Denis J. Salamone sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the completion of the transaction, the director now owns 44,902 shares in the company, valued at $7,724,491.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Vice Chairman Gary N. Geisel sold 500 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total transaction of $86,250.00. Following the sale, the insider now directly owns 16,429 shares of the company’s stock, valued at $2,834,002.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the completion of the transaction, the director now owns 44,902 shares of the company’s stock, valued at $7,724,491.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,699 shares of company stock worth $5,115,349. Company insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ontario Teachers Pension Plan Board raised its holdings in M&T Bank by 43.1% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 12,423 shares of the financial services provider’s stock worth $1,807,000 after purchasing an additional 3,739 shares during the last quarter. Leuthold Group LLC acquired a new position in M&T Bank in the first quarter valued at approximately $3,125,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in M&T Bank by 7.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 497,503 shares of the financial services provider’s stock valued at $72,357,000 after acquiring an additional 35,692 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in M&T Bank by 5.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 331,868 shares of the financial services provider’s stock worth $48,267,000 after acquiring an additional 18,566 shares during the period. Finally, Gateway Investment Advisers LLC raised its position in shares of M&T Bank by 60.0% during the 2nd quarter. Gateway Investment Advisers LLC now owns 32,799 shares of the financial services provider’s stock valued at $4,964,000 after acquiring an additional 12,304 shares during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

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.