Analysts Set M&T Bank Co. (NYSE:MTB) Target Price at $212.53

M&T Bank Co. (NYSE:MTB - Get Free Report) has been assigned an average rating of "Moderate Buy" from the twenty-one research firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and thirteen have given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $212.53.

A number of equities analysts have issued reports on the company. Truist Financial reduced their target price on M&T Bank from $225.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Jefferies Financial Group set a $225.00 price objective on M&T Bank and gave the stock a "buy" rating in a research report on Wednesday, May 21st. DA Davidson dropped their price objective on M&T Bank from $205.00 to $189.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. TD Cowen started coverage on M&T Bank in a report on Thursday, May 15th. They issued a "buy" rating and a $230.00 target price for the company. Finally, Wall Street Zen raised M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th.

M&T Bank Price Performance

NYSE MTB traded down $0.86 on Friday, reaching $183.28. The company's stock had a trading volume of 416,614 shares, compared to its average volume of 1,142,067. The firm's 50 day moving average is $172.31 and its two-hundred day moving average is $188.39. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. The stock has a market cap of $29.42 billion, a PE ratio of 12.52, a PEG ratio of 1.38 and a beta of 0.58. M&T Bank has a twelve month low of $139.78 and a twelve month high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last announced its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share (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 company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the previous year, the company earned $3.09 EPS. As a group, sell-side analysts predict that M&T Bank will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Monday, June 2nd. M&T Bank's 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 stock was sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the transaction, the executive vice president now owns 10,751 shares of the company's stock, valued at $1,852,827.34. This represents a 13.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.53% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP grew its holdings in shares of M&T Bank by 33.1% during the 1st quarter. Wellington Management Group LLP now owns 9,894,065 shares of the financial services provider's stock worth $1,768,564,000 after acquiring an additional 2,460,315 shares during the period. FMR LLC grew its stake 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 worth $2,652,899,000 after buying an additional 1,761,014 shares during the last quarter. Norges Bank purchased a new stake in shares of M&T Bank in the 4th quarter worth approximately $317,690,000. Nuveen LLC purchased a new stake in shares of M&T Bank in the 1st quarter worth approximately $243,451,000. Finally, GAMMA Investing LLC grew its stake in shares of M&T Bank by 18,471.2% in the 1st quarter. GAMMA Investing LLC now owns 705,705 shares of the financial services provider's stock worth $126,145,000 after buying an additional 701,905 shares during the last quarter. Institutional investors own 84.68% of the company's stock.

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.