Shares of M&T Bank Corporation (NYSE:MTB – Get Free Report) have earned a consensus recommendation of “Moderate Buy” from the twenty-one ratings firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $212.53.
A number of equities analysts have weighed in on the company. Wells Fargo & Company reduced their price target on 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. Barclays reduced their target price on shares of M&T Bank from $235.00 to $220.00 and set an “equal weight” rating for the company in a report on Tuesday, April 15th. Cowen assumed coverage on shares of M&T Bank in a research report on Wednesday, May 14th. They issued a “buy” rating for the company. TD Cowen assumed coverage on shares of M&T Bank in a research note on Thursday, May 15th. They issued a “buy” rating and a $230.00 price target on the stock. Finally, Piper Sandler reduced their price objective on shares of M&T Bank from $220.00 to $210.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th.
Check Out Our Latest Stock Report on M&T Bank
M&T Bank Trading Down 1.2%
M&T Bank (NYSE:MTB – Get Free Report) last issued its quarterly earnings results on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.03). The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.35 billion. M&T Bank had a net margin of 19.86% and a return on equity of 10.18%. During the same quarter last year, the firm earned $3.09 earnings per share. As a group, research analysts anticipate that M&T Bank will post 16.57 EPS for the current fiscal year.
M&T Bank Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be paid a $1.35 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $5.40 annualized dividend and a yield of 3.03%. M&T Bank’s dividend payout ratio is 36.17%.
Insider Activity
In other news, Director Robert E. Sadler, Jr. sold 6,700 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $183.52, for a total value of $1,229,584.00. Following the transaction, the director now directly owns 23,070 shares of the company’s stock, valued at $4,233,806.40. This represents a 22.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.53% of the company’s stock.
Institutional Trading of M&T Bank
A number of hedge funds have recently modified their holdings of the stock. Howe & Rusling Inc. grew its stake in M&T Bank by 15.0% in the 1st quarter. Howe & Rusling Inc. now owns 3,675 shares of the financial services provider’s stock valued at $657,000 after buying an additional 480 shares during the last quarter. Strs Ohio acquired a new position in shares of M&T Bank in the first quarter valued at approximately $29,566,000. Jacobi Capital Management LLC grew its position in shares of M&T Bank by 1.1% in the first quarter. Jacobi Capital Management LLC now owns 8,136 shares of the financial services provider’s stock valued at $1,454,000 after purchasing an additional 87 shares during the last quarter. Advisors Capital Management LLC increased its stake in shares of M&T Bank by 1.6% during the first quarter. Advisors Capital Management LLC now owns 185,017 shares of the financial services provider’s stock worth $33,072,000 after purchasing an additional 2,932 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in M&T Bank by 20.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,656 shares of the financial services provider’s stock worth $296,000 after purchasing an additional 276 shares during the last quarter. 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.
Further Reading
- Five stocks we like better than M&T Bank
- How to Invest in Small Cap Stocks
- Analyst Downgrades Joby, But Overlooks Major Regulatory Wins
- 3 Warren Buffett Stocks to Buy Now
- U.S. Steel Stock Burns the Bears With Surprise Upside Move
- Do ETFs Pay Dividends? What You Need to Know
- Lululemon, UNH, Enphase: Bad News, Good Opportunity?
Receive News & Ratings for M&T Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M&T Bank and related companies with MarketBeat.com's FREE daily email newsletter.