M&T Bank Corporation (NYSE:MTB) Given Consensus Rating of “Hold” by Analysts

Shares of M&T Bank Corporation (NYSE:MTB) have been given a consensus recommendation of “Hold” by the twenty-one brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $224.2895.

A number of analysts have recently weighed in on MTB shares. Royal Bank Of Canada raised their price objective on M&T Bank from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, January 16th. Jefferies Financial Group raised their price target on M&T Bank from $250.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, January 16th. Wells Fargo & Company boosted their price target on M&T Bank from $185.00 to $205.00 and gave the stock an “underweight” rating in a research note on Monday, January 5th. Truist Financial set a $230.00 price objective on shares of M&T Bank in a research report on Tuesday, January 20th. Finally, Bank of America reissued a “neutral” rating and set a $225.00 target price on shares of M&T Bank in a research report on Wednesday, January 7th.

M&T Bank Stock Down 0.3%

Shares of M&T Bank stock opened at $216.87 on Thursday. M&T Bank has a 52-week low of $150.75 and a 52-week high of $222.18. The firm’s 50 day moving average price is $204.09 and its 200-day moving average price is $195.91. The company has a quick ratio of 0.97, a current ratio of 0.90 and a debt-to-equity ratio of 0.41. The company has a market cap of $33.33 billion, a P/E ratio of 12.72, a PEG ratio of 0.95 and a beta of 0.59.

M&T Bank (NYSE:MTB) last announced its earnings results on Friday, January 16th. The financial services provider reported $4.72 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.25. The company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.47 billion. M&T Bank had a net margin of 21.55% and a return on equity of 10.94%. During the same period last year, the firm earned $3.77 earnings per share. On average, sell-side analysts predict that M&T Bank will post 16.57 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st were issued a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.8%. M&T Bank’s payout ratio is 35.19%.

Insider Buying and Selling

In other news, EVP Christopher E. Kay sold 5,250 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $191.70, for a total value of $1,006,425.00. Following the completion of the transaction, the executive vice president directly owned 5,501 shares in the company, valued at $1,054,541.70. This trade represents a 48.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert E. Sadler, Jr. sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $190.06, for a total value of $1,140,360.00. Following the completion of the sale, the director owned 17,070 shares in the company, valued at approximately $3,244,324.20. This represents a 26.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 29,116 shares of company stock worth $6,091,776 in the last 90 days. Insiders own 0.53% of the company’s stock.

Institutional Trading of M&T Bank

Several large investors have recently made changes to their positions in the business. Canoe Financial LP increased its stake in shares of M&T Bank by 50.5% in the fourth quarter. Canoe Financial LP now owns 652,744 shares of the financial services provider’s stock worth $131,515,000 after acquiring an additional 219,065 shares during the period. Marshall Wace LLP boosted its holdings in M&T Bank by 6.2% in the second quarter. Marshall Wace LLP now owns 584,438 shares of the financial services provider’s stock valued at $113,375,000 after purchasing an additional 33,920 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in M&T Bank by 3.1% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 463,669 shares of the financial services provider’s stock worth $89,947,000 after purchasing an additional 13,749 shares during the period. RNC Capital Management LLC raised its stake in shares of M&T Bank by 0.3% during the 2nd quarter. RNC Capital Management LLC now owns 363,058 shares of the financial services provider’s stock valued at $70,430,000 after buying an additional 1,058 shares during the last quarter. Finally, LSV Asset Management lifted its holdings in shares of M&T Bank by 19.9% in the 3rd quarter. LSV Asset Management now owns 342,400 shares of the financial services provider’s stock valued at $67,665,000 after buying an additional 56,750 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Company Profile

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.