M&T Bank Co. Receives Consensus Recommendation of “Hold” from Analysts (NYSE:MTB)
M&T Bank Co. (NYSE:MTB) has been given an average rating of “Hold” by the twenty-six ratings firms that are covering the stock, StockRatingsNetwork reports. Fourteen equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $121.85.
In other M&T Bank Co. news, CFO Rene F. Jones unloaded 4,800 shares of the stock on the open market in a transaction dated Friday, June 13th. The stock was sold at an average price of $123.09, for a total value of $590,832.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of M&T Bank Co. (NYSE:MTB) traded up 0.19% during mid-day trading on Tuesday, hitting $124.47. The stock had a trading volume of 228,931 shares. M&T Bank Co. has a 52-week low of $104.38 and a 52-week high of $125.90. The stock has a 50-day moving average of $121.9 and a 200-day moving average of $117.9. The company has a market cap of $16.366 billion and a price-to-earnings ratio of 15.87.
M&T Bank Co. (NYSE:MTB) last posted its quarterly earnings results on Monday, April 14th. The company reported $1.66 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.62 by $0.04. During the same quarter last year, the company posted $2.06 earnings per share. Analysts expect that M&T Bank Co. will post $7.64 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, June 30th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Thursday, May 29th.
MTB has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of M&T Bank Co. in a research note on Friday, May 30th. They now have a $127.00 price target on the stock. Separately, analysts at Sterne Agee initiated coverage on shares of M&T Bank Co. in a research note on Friday, May 30th. They set a “neutral” rating on the stock. Finally, analysts at Nomura initiated coverage on shares of M&T Bank Co. in a research note on Wednesday, May 14th. They set a “buy” rating and a $146.00 price target on the stock.
M&T Bank Corporation (NYSE:MTB) is a bank holding company.
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