M&T Bank Co. (NYSE:MTB) Receives Consensus Rating of “Hold” from Analysts

M&T Bank Co. (NYSE:MTB) has been assigned a consensus rating of “Hold” from the fifteen research firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $175.85.

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised shares of M&T Bank from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $183.00 to $215.00 in a research note on Tuesday, September 3rd. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, July 19th. DA Davidson increased their target price on M&T Bank from $159.00 to $185.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Wells Fargo & Company lowered M&T Bank from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $170.00 to $165.00 in a research report on Thursday, August 15th. Finally, Morgan Stanley lifted their price objective on shares of M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th.

M&T Bank Stock Performance

MTB stock opened at $179.56 on Monday. The company has a 50 day moving average price of $167.47 and a 200 day moving average price of $153.59. M&T Bank has a fifty-two week low of $108.53 and a fifty-two week high of $180.25. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $29.96 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 3.32 and a beta of 0.76.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.37 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the prior year, the firm posted $5.12 earnings per share. Analysts forecast that M&T Bank will post 14.24 EPS for the current year.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be issued a $1.35 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.01%. M&T Bank’s dividend payout ratio (DPR) is 36.51%.

Insider Buying and Selling

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total value of $86,250.00. Following the sale, the insider now owns 16,429 shares in the company, valued at approximately $2,834,002.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Robert E. Sadler, Jr. sold 1,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total transaction of $172,230.00. Following the completion of the transaction, the director now directly owns 31,796 shares of the company’s stock, valued at $5,476,225.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Gary N. Geisel sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total value of $86,250.00. Following the completion of the transaction, the insider now owns 16,429 shares of the company’s stock, valued at $2,834,002.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,699 shares of company stock worth $5,115,349. 0.82% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On M&T Bank

A number of institutional investors have recently added to or reduced their stakes in MTB. Meeder Advisory Services Inc. grew its position in shares of M&T Bank by 3.9% in the 1st quarter. Meeder Advisory Services Inc. now owns 1,879 shares of the financial services provider’s stock valued at $273,000 after acquiring an additional 70 shares during the period. Massmutual Trust Co. FSB ADV increased its position in M&T Bank by 1.5% during the second quarter. Massmutual Trust Co. FSB ADV now owns 4,711 shares of the financial services provider’s stock worth $713,000 after buying an additional 70 shares during the last quarter. Umpqua Bank raised its stake in M&T Bank by 5.3% in the second quarter. Umpqua Bank now owns 1,460 shares of the financial services provider’s stock valued at $221,000 after buying an additional 73 shares during the period. Fulton Bank N.A. lifted its position in shares of M&T Bank by 2.3% in the first quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider’s stock valued at $526,000 after buying an additional 81 shares during the last quarter. Finally, Tritonpoint Wealth LLC boosted its stake in shares of M&T Bank by 2.3% during the 1st quarter. Tritonpoint Wealth LLC now owns 3,833 shares of the financial services provider’s stock worth $510,000 after acquiring an additional 87 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

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.