DA Davidson Issues Positive Forecast for M&T Bank (NYSE:MTB) Stock Price

M&T Bank (NYSE:MTB) had its price objective upped by DA Davidson from $222.00 to $223.00 in a report released on Friday,Benzinga reports. DA Davidson currently has a neutral rating on the financial services provider’s stock.

Several other research firms also recently commented on MTB. Wells Fargo & Company increased their target price on M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a research report on Friday, November 15th. Royal Bank of Canada lifted their target price on shares of M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Piper Sandler upped their price target on shares of M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Wedbush lifted their price target on shares of M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Finally, Truist Financial restated a “buy” rating and issued a $236.00 price objective (up from $233.00) on shares of M&T Bank in a report on Friday. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $221.68.

M&T Bank Stock Up 0.4 %

MTB stock opened at $196.88 on Friday. The stock has a market capitalization of $32.67 billion, a P/E ratio of 14.57, a price-to-earnings-growth ratio of 2.16 and a beta of 0.79. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average price of $202.66 and a 200-day moving average price of $183.16. M&T Bank has a 12 month low of $128.31 and a 12 month high of $225.70.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, beating 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 period last year, the company earned $2.74 EPS. As a group, equities research analysts anticipate that M&T Bank will post 14.58 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were paid a $1.35 dividend. The ex-dividend date was Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.74%. M&T Bank’s dividend payout ratio (DPR) is presently 39.97%.

Insider Activity at M&T Bank

In related news, CEO Rene F. Jones sold 23,071 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $193.88, for a total value of $4,473,005.48. Following the completion of the transaction, the chief executive officer now directly owns 77,226 shares of the company’s stock, valued at approximately $14,972,576.88. This trade represents a 23.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total transaction of $537,566.10. Following the sale, the insider now directly owns 16,429 shares in the company, valued at $3,546,856.81. The trade was a 13.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 84,994 shares of company stock worth $17,211,278. 0.82% of the stock is owned by company insiders.

Hedge Funds Weigh In On M&T Bank

Several hedge funds have recently made changes to their positions in the stock. Capital Performance Advisors LLP purchased a new position in M&T Bank during the third quarter valued at approximately $44,000. Principal Financial Group Inc. boosted its stake in M&T Bank by 1.4% during the third quarter. Principal Financial Group Inc. now owns 199,111 shares of the financial services provider’s stock valued at $35,466,000 after buying an additional 2,797 shares during the period. Smead Capital Management Inc. grew its position in M&T Bank by 3.5% during the third quarter. Smead Capital Management Inc. now owns 493,817 shares of the financial services provider’s stock worth $87,959,000 after buying an additional 16,657 shares in the last quarter. National Pension Service increased its stake in M&T Bank by 5.2% in the 3rd quarter. National Pension Service now owns 268,138 shares of the financial services provider’s stock worth $47,761,000 after acquiring an additional 13,302 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of M&T Bank by 6.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 50,275 shares of the financial services provider’s stock valued at $8,955,000 after acquiring an additional 2,883 shares in the last quarter. 84.68% of the stock is currently owned by hedge funds and other 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.