Wedbush Boosts M&T Bank (NYSE:MTB) Price Target to $210.00

M&T Bank (NYSE:MTB) had its target price lifted by Wedbush from $208.00 to $210.00 in a research note published on Tuesday morning, Benzinga reports. Wedbush currently has an outperform rating on the financial services provider’s stock. Wedbush also issued estimates for M&T Bank’s Q3 2024 earnings at $3.61 EPS, Q4 2024 earnings at $3.69 EPS, FY2024 earnings at $14.20 EPS, Q1 2025 earnings at $3.55 EPS, Q2 2025 earnings at $3.96 EPS, Q3 2025 earnings at $4.19 EPS, Q4 2025 earnings at $4.30 EPS, FY2025 earnings at $16.00 EPS and FY2026 earnings at $17.85 EPS.

Several other brokerages have also recently issued reports on MTB. DA Davidson lifted their target price on M&T Bank from $159.00 to $185.00 and gave the stock a neutral rating in a report on Friday, July 19th. StockNews.com upgraded M&T Bank from a sell rating to a hold rating in a research report on Friday, July 19th. Bank of America lifted their price target on M&T Bank from $160.00 to $188.00 and gave the stock a buy rating in a research report on Monday, July 22nd. Morgan Stanley lifted their price target on M&T Bank from $195.00 to $220.00 and gave the stock an overweight rating in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. upgraded M&T Bank from a neutral rating to an overweight rating and lifted their price target for the stock from $183.00 to $215.00 in a research report on Tuesday, September 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of $178.35.

M&T Bank Trading Up 1.5 %

Shares of MTB stock opened at $175.27 on Tuesday. M&T Bank has a 12-month low of $108.53 and a 12-month high of $180.63. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. The stock’s 50-day moving average price is $168.25 and its 200-day moving average price is $154.19. The stock has a market capitalization of $29.24 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 3.55 and a beta of 0.76.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the previous year, the firm posted $5.12 earnings per share. Equities research analysts predict that M&T Bank will post 14.23 EPS for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.08%. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

Insider Buying and Selling at M&T Bank

In related news, Director Kirk W. Walters sold 2,471 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $24.60, for a total value of $60,786.60. Following the completion of the sale, the director now owns 20,414 shares in the company, valued at $502,184.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, 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 value of $1,720,300.00. Following the completion of the sale, the director now owns 44,902 shares in the company, valued at $7,724,491.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kirk W. Walters sold 2,471 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.60, for a total value of $60,786.60. Following the completion of the sale, the director now owns 20,414 shares of the company’s stock, valued at approximately $502,184.40. The disclosure for this sale can be found here. Insiders sold 32,699 shares of company stock worth $5,115,349 over the last 90 days. Company insiders own 0.82% of the company’s stock.

Institutional Trading of M&T Bank

A number of large investors have recently modified their holdings of MTB. Massachusetts Financial Services Co. MA raised its stake in M&T Bank by 4.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock worth $269,696,000 after buying an additional 81,004 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in M&T Bank by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock worth $244,129,000 after buying an additional 93,113 shares in the last quarter. Bank of New York Mellon Corp raised its stake in 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 in the last quarter. 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 worth $211,631,000 after buying an additional 43,795 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in 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 in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

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.