M&T Bank Corporation (NYSE:MTB) Receives Consensus Recommendation of “Hold” from Analysts

Shares of M&T Bank Corporation (NYSE:MTB) have been assigned an average recommendation of “Hold” from the twenty-one ratings firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $228.50.

Several research analysts recently commented on the stock. Royal Bank Of Canada increased their target price on shares of M&T Bank from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, January 16th. TD Cowen restated a “buy” rating on shares of M&T Bank in a research note on Wednesday, January 7th. Robert W. Baird lifted their target price on M&T Bank from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, December 18th. The Goldman Sachs Group upped their target price on M&T Bank from $230.00 to $231.00 and gave the stock a “neutral” rating in a report on Tuesday, January 20th. Finally, Piper Sandler raised their price target on M&T Bank from $225.00 to $235.00 in a research note on Friday, January 16th.

M&T Bank Stock Up 1.5%

MTB stock opened at $232.65 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $34.66 billion, a P/E ratio of 13.65, a P/E/G ratio of 1.02 and a beta of 0.60. M&T Bank has a fifty-two week low of $150.75 and a fifty-two week high of $239.00. The business has a 50-day moving average of $216.54 and a 200-day moving average of $200.41.

M&T Bank (NYSE:MTB) last released its earnings results on Friday, January 16th. The financial services provider reported $4.72 EPS for the quarter, beating the consensus estimate of $4.47 by $0.25. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $2.47 billion. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.During the same quarter in the previous year, the business posted $3.77 EPS. On average, sell-side analysts anticipate that M&T Bank will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 2nd will be paid a $1.50 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $6.00 annualized dividend and a dividend yield of 2.6%. M&T Bank’s dividend payout ratio (DPR) is currently 35.19%.

Insider Activity

In other news, Director Kirk W. Walters sold 909 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $227.37, for a total value of $206,679.33. Following the sale, the director directly owned 5,976 shares of the company’s stock, valued at approximately $1,358,763.12. This represents a 13.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christopher E. Kay sold 5,250 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $191.70, for a total transaction of $1,006,425.00. Following the completion of the sale, the executive vice president owned 5,501 shares of the company’s stock, valued at $1,054,541.70. This trade represents a 48.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 52,105 shares of company stock valued at $11,488,231. 0.53% of the stock is owned by corporate insiders.

Institutional Trading of M&T Bank

A number of hedge funds have recently made changes to their positions in MTB. Canoe Financial LP grew its position in M&T Bank by 46.8% during the third quarter. Canoe Financial LP now owns 433,679 shares of the financial services provider’s stock worth $85,704,000 after buying an additional 138,173 shares in the last quarter. Plato Investment Management Ltd lifted its position in shares of M&T Bank by 54.3% during the 3rd quarter. Plato Investment Management Ltd now owns 8,251 shares of the financial services provider’s stock valued at $1,618,000 after acquiring an additional 2,905 shares during the period. LSV Asset Management grew its holdings in shares of M&T Bank by 19.9% during the 3rd quarter. LSV Asset Management now owns 342,400 shares of the financial services provider’s stock worth $67,665,000 after purchasing an additional 56,750 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of M&T Bank by 19.1% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 86,731 shares of the financial services provider’s stock worth $17,140,000 after purchasing an additional 13,889 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S raised its stake in M&T Bank by 120.3% in the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 17,925 shares of the financial services provider’s stock valued at $3,542,000 after purchasing an additional 9,788 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

About M&T Bank

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.