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

M&T Bank Co. (NYSE:MTB) has received an average rating of “Hold” from the nineteen brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $208.24.

Several research firms recently weighed in on MTB. Wells Fargo & Company cut their price objective on shares of M&T Bank from $185.00 to $175.00 and set an “underweight” rating for the company in a research report on Tuesday, April 15th. Morgan Stanley decreased their price objective on shares of M&T Bank from $269.00 to $253.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Deutsche Bank Aktiengesellschaft upgraded M&T Bank from a “hold” rating to a “buy” rating and set a $210.00 target price for the company in a research note on Thursday, April 24th. Barclays decreased their price target on M&T Bank from $235.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 15th. Finally, Royal Bank of Canada reduced their price objective on M&T Bank from $208.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th.

M&T Bank Trading Up 2.6 %

MTB stock opened at $175.28 on Tuesday. M&T Bank has a 52 week low of $139.78 and a 52 week high of $225.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. The company’s 50-day simple moving average is $171.44 and its 200 day simple moving average is $190.29. The company has a market capitalization of $28.80 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58.

M&T Bank (NYSE:MTB) last announced its earnings results on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing the consensus estimate of $3.41 by ($0.03). M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the prior year, the business posted $3.09 earnings per share. As a group, sell-side analysts anticipate that M&T Bank will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were issued a $1.35 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 3.08%. M&T Bank’s payout ratio is 36.17%.

M&T Bank announced that its board has approved a share repurchase plan on Wednesday, January 22nd that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 12.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other news, EVP Christopher E. Kay sold 1,738 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value of $299,526.92. Following the sale, the executive vice president now directly owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. This represents a 13.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. raised its position in shares of M&T Bank by 34.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 7,835 shares of the financial services provider’s stock worth $1,473,000 after acquiring an additional 2,018 shares in the last quarter. Flagship Harbor Advisors LLC grew its stake in M&T Bank by 89.8% during the fourth quarter. Flagship Harbor Advisors LLC now owns 2,737 shares of the financial services provider’s stock worth $515,000 after purchasing an additional 1,295 shares during the period. US Bancorp DE increased its holdings in M&T Bank by 24.3% in the fourth quarter. US Bancorp DE now owns 8,382 shares of the financial services provider’s stock worth $1,576,000 after purchasing an additional 1,639 shares in the last quarter. Summit Trail Advisors LLC acquired a new position in M&T Bank in the fourth quarter valued at approximately $290,000. Finally, Valeo Financial Advisors LLC bought a new position in shares of M&T Bank during the 4th quarter worth approximately $297,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Company Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.