Piper Sandler Raises M&T Bank (NYSE:MTB) Price Target to $210.00

M&T Bank (NYSE:MTBGet Rating) had its target price increased by Piper Sandler from $200.00 to $210.00 in a research note issued to investors on Wednesday morning, The Fly reports.

MTB has been the subject of a number of other reports. Barclays increased their price objective on shares of M&T Bank from $167.00 to $195.00 in a research note on Monday, January 3rd. Wells Fargo & Company increased their price objective on shares of M&T Bank from $160.00 to $180.00 and gave the stock an equal weight rating in a research note on Monday, March 7th. StockNews.com raised shares of M&T Bank from a sell rating to a hold rating in a report on Wednesday, March 2nd. Citigroup began coverage on shares of M&T Bank in a report on Thursday, March 24th. They issued a buy rating on the stock. Finally, UBS Group began coverage on shares of M&T Bank in a report on Wednesday, January 12th. They issued a buy rating and a $212.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $192.28.

Shares of NYSE MTB opened at $172.41 on Wednesday. The company has a fifty day moving average price of $173.90 and a 200 day moving average price of $165.21. M&T Bank has a 1-year low of $128.46 and a 1-year high of $186.95. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.22. The firm has a market cap of $22.25 billion, a PE ratio of 12.49, a PEG ratio of 1.92 and a beta of 0.92.

M&T Bank (NYSE:MTBGet Rating) last posted its quarterly earnings data on Wednesday, April 20th. The financial services provider reported $2.62 EPS for the quarter, topping the Zacks’ consensus estimate of $2.38 by $0.24. M&T Bank had a net margin of 30.44% and a return on equity of 12.14%. During the same quarter in the prior year, the business posted $3.41 earnings per share. Equities research analysts forecast that M&T Bank will post 12.12 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Monday, February 28th were issued a $1.20 dividend. The ex-dividend date was Friday, February 25th. This represents a $4.80 annualized dividend and a yield of 2.78%. M&T Bank’s dividend payout ratio is currently 34.78%.

M&T Bank declared that its board has authorized a stock buyback plan on Tuesday, February 22nd that authorizes the company to repurchase $800.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

A number of institutional investors have recently added to or reduced their stakes in MTB. Richwood Investment Advisors LLC bought a new position in M&T Bank in the 4th quarter valued at about $25,000. Riverview Trust Co bought a new position in M&T Bank in the 1st quarter valued at about $27,000. CVA Family Office LLC bought a new position in shares of M&T Bank during the fourth quarter worth approximately $31,000. Moors & Cabot Inc. increased its holdings in shares of M&T Bank by 696.6% during the third quarter. Moors & Cabot Inc. now owns 30,000 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 26,234 shares during the period. Finally, Edmond DE Rothschild Holding S.A. bought a new position in shares of M&T Bank during the third quarter worth approximately $34,000. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

About M&T Bank (Get Rating)

M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial lending and leasing, letters of credit, and cash management services for middle-market and large commercial customers.

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