Research Analysts’ Weekly Ratings Updates for M&T Bank (MTB)

Several analysts have recently updated their ratings and price targets for M&T Bank (NYSE: MTB):

• 7/3/2024 – M&T Bank had its price target raised by analysts at Jefferies Financial Group Inc. from $160.00 to $161.00. They now have a “hold” rating on the stock.
• 6/27/2024 – M&T Bank had its “market perform” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $170.00 price target on the stock.
• 6/25/2024 – M&T Bank had its price target raised by analysts at Evercore ISI from $157.00 to $168.00. They now have an “in-line” rating on the stock.
• 6/21/2024 – M&T Bank had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $164.00 price target on the stock.
• 6/12/2024 – M&T Bank had its price target raised by analysts at Piper Sandler from $152.00 to $164.00. They now have an “overweight” rating on the stock.
• 6/4/2024 – M&T Bank had its price target raised by analysts at Jefferies Financial Group Inc. from $151.00 to $160.00. They now have a “hold” rating on the stock.

M&T Bank Stock Performance

NYSE MTB traded up $1.39 on Friday, hitting $156.33. 183,105 shares of the stock traded hands, compared to its average volume of 1,025,760. The business’s fifty day moving average is $149.04 and its two-hundred day moving average is $142.69. M&T Bank Co. has a 12 month low of $108.53 and a 12 month high of $156.65. The firm has a market capitalization of $26.08 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 3.54 and a beta of 0.77. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.00 and a current ratio of 1.00.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.13 by ($0.11). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period last year, the company posted $4.09 earnings per share. As a group, equities analysts anticipate that M&T Bank Co. will post 13.96 EPS for the current fiscal year.

M&T Bank Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were issued a $1.35 dividend. This is a positive change from M&T Bank’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend was Monday, June 3rd. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

Insider Activity at M&T Bank

In other M&T Bank news, Director John P. Barnes sold 43,426 shares of M&T Bank stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $154.50, for a total transaction of $6,709,317.00. Following the completion of the sale, the director now owns 35,480 shares of the company’s stock, valued at $5,481,660. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Doris P. Meister sold 1,638 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total value of $226,387.98. Following the completion of the sale, the executive vice president now owns 3,362 shares in the company, valued at approximately $464,662.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John P. Barnes sold 43,426 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $154.50, for a total value of $6,709,317.00. Following the completion of the sale, the director now owns 35,480 shares of the company’s stock, valued at approximately $5,481,660. The disclosure for this sale can be found here. Over the last quarter, insiders sold 97,553 shares of company stock valued at $14,724,147. Company insiders own 0.82% of the company’s stock.

Institutional Trading of M&T Bank

Several hedge funds and other institutional investors have recently bought and sold shares of MTB. Norges Bank bought a new stake in M&T Bank in the fourth quarter valued at approximately $232,322,000. Smead Capital Management Inc. bought a new position in shares of M&T Bank during the fourth quarter valued at approximately $59,418,000. Los Angeles Capital Management LLC bought a new position in shares of M&T Bank during the fourth quarter valued at approximately $34,645,000. Bank of Nova Scotia raised its holdings in shares of M&T Bank by 1,155.9% during the fourth quarter. Bank of Nova Scotia now owns 205,392 shares of the financial services provider’s stock valued at $28,154,000 after acquiring an additional 189,038 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of M&T Bank by 127.6% during the fourth quarter. BNP Paribas Financial Markets now owns 277,330 shares of the financial services provider’s stock valued at $38,016,000 after acquiring an additional 155,487 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

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.