M&T Bank (NYSE:MTB) Price Target Cut to $200.00 by Analysts at Robert W. Baird

M&T Bank (NYSE:MTB) had its price target decreased by Robert W. Baird from $220.00 to $200.00 in a research note published on Tuesday,Benzinga reports. Robert W. Baird currently has an outperform rating on the financial services provider’s stock.

A number of other equities analysts have also recently commented on MTB. JPMorgan Chase & Co. reduced their price target on M&T Bank from $212.50 to $186.50 and set a “neutral” rating for the company in a report on Thursday, April 3rd. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. DA Davidson increased their target price on M&T Bank from $222.00 to $223.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Truist Financial reduced their price target on M&T Bank from $236.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, April 4th. Finally, Evercore ISI lowered their price objective on M&T Bank from $234.00 to $205.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $208.14.

M&T Bank Stock Up 0.6 %

MTB stock opened at $159.47 on Tuesday. The company has a market cap of $26.20 billion, a price-to-earnings ratio of 10.90, a P/E/G ratio of 1.38 and a beta of 0.58. M&T Bank has a twelve month low of $136.18 and a twelve month high of $225.70. The business has a 50 day moving average price of $179.62 and a two-hundred day moving average price of $191.54. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB) last issued its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share 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 firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the previous year, the firm posted $3.09 earnings per share. Analysts anticipate that M&T Bank will post 16.57 EPS for the current fiscal year.

M&T Bank declared that its Board of Directors has approved a stock buyback plan on Wednesday, January 22nd that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend was Monday, March 3rd. M&T Bank’s dividend payout ratio (DPR) is presently 36.91%.

Insider Buying and Selling at M&T Bank

In other news, EVP Christopher E. Kay sold 1,738 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the completion of the transaction, the executive vice president now directly owns 10,751 shares in the company, valued at approximately $1,852,827.34. This represents a 13.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

Several large investors have recently bought and sold shares of MTB. MML Investors Services LLC boosted its position in M&T Bank by 13.4% during the 3rd quarter. MML Investors Services LLC now owns 6,852 shares of the financial services provider’s stock worth $1,220,000 after buying an additional 809 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of M&T Bank during the third quarter worth $332,000. Barclays PLC grew its stake in shares of M&T Bank by 11.9% in the third quarter. Barclays PLC now owns 578,266 shares of the financial services provider’s stock worth $102,999,000 after purchasing an additional 61,375 shares during the last quarter. Sanctuary Advisors LLC increased its holdings in M&T Bank by 14.7% in the third quarter. Sanctuary Advisors LLC now owns 15,767 shares of the financial services provider’s stock valued at $2,808,000 after purchasing an additional 2,018 shares during the period. Finally, Wilmington Savings Fund Society FSB raised its position in M&T Bank by 80.6% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 13,901 shares of the financial services provider’s stock worth $2,476,000 after purchasing an additional 6,205 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Company Profile

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.