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

M&T Bank Co. (NYSE:MTB) has been assigned an average rating of “Hold” from the seventeen research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $221.68.

MTB has been the subject of a number of research reports. Bank of America raised their price objective on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Wedbush boosted their price target on shares of M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. restated a “neutral” rating and set a $223.50 price objective (up previously from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. Barclays lifted their price objective on shares of M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Finally, Piper Sandler upped their target price on shares of M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th.

Insider Activity

In other news, Director John P. Barnes sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $193.97, for a total transaction of $3,879,400.00. Following the completion of the sale, the director now owns 49,960 shares in the company, valued at $9,690,741.20. This trade represents a 28.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total value of $537,566.10. Following the completion of the transaction, the insider now owns 16,429 shares in the company, valued at approximately $3,546,856.81. The trade was a 13.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 84,994 shares of company stock valued at $17,211,278 in the last ninety days. 0.82% of the stock is currently owned by insiders.

Institutional Investors Weigh In On M&T Bank

Several large investors have recently added to or reduced their stakes in MTB. Capital Performance Advisors LLP bought a new position in M&T Bank during the third quarter worth about $44,000. Principal Financial Group Inc. boosted its holdings in M&T Bank by 1.4% in the 3rd quarter. Principal Financial Group Inc. now owns 199,111 shares of the financial services provider’s stock worth $35,466,000 after buying an additional 2,797 shares during the period. Smead Capital Management Inc. grew its stake in M&T Bank by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 493,817 shares of the financial services provider’s stock valued at $87,959,000 after buying an additional 16,657 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in M&T Bank by 6.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 50,275 shares of the financial services provider’s stock valued at $8,955,000 after acquiring an additional 2,883 shares during the period. Finally, National Pension Service lifted its position in shares of M&T Bank by 5.2% during the third quarter. National Pension Service now owns 268,138 shares of the financial services provider’s stock worth $47,761,000 after acquiring an additional 13,302 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Up 0.4 %

M&T Bank stock opened at $196.88 on Friday. The company has a market capitalization of $32.67 billion, a PE ratio of 14.57, a PEG ratio of 2.16 and a beta of 0.79. M&T Bank has a 12-month low of $128.31 and a 12-month high of $225.70. The firm’s fifty day moving average is $202.41 and its 200 day moving average is $183.49. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. During the same quarter in the previous year, the firm posted $2.74 EPS. As a group, sell-side analysts predict that M&T Bank will post 14.58 EPS for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were given a $1.35 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.40 annualized dividend and a yield of 2.74%. M&T Bank’s dividend payout ratio is currently 39.97%.

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.