Brokerages Set M&T Bank Corporation (NYSE:MTB) PT at $232.87

Shares of M&T Bank Corporation (NYSE:MTB) have been given an average recommendation of “Hold” by the twenty-one ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $232.8684.

Several equities research analysts recently commented on MTB shares. Wall Street Zen lowered M&T Bank from a “hold” rating to a “sell” rating in a research report on Saturday. Barclays lifted their target price on M&T Bank from $220.00 to $236.00 and gave the stock an “equal weight” rating in a report on Monday, January 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of M&T Bank in a research note on Monday, December 29th. TD Cowen restated a “buy” rating on shares of M&T Bank in a report on Wednesday, January 7th. Finally, Wells Fargo & Company raised their price objective on shares of M&T Bank from $185.00 to $205.00 and gave the stock an “underweight” rating in a research report on Monday, January 5th.

M&T Bank Price Performance

MTB stock opened at $203.61 on Friday. The firm has a market cap of $30.34 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 0.88 and a beta of 0.58. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.41. M&T Bank has a 12-month low of $150.75 and a 12-month high of $239.00. The company’s fifty day simple moving average is $217.43 and its 200 day simple moving average is $202.51.

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

M&T Bank Announces Dividend

The business 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 dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $6.00 annualized dividend and a yield of 2.9%. M&T Bank’s dividend payout ratio is currently 35.19%.

Insider Activity at M&T Bank

In other news, Director John P. Barnes sold 21,193 shares of the stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $235.85, for a total transaction of $4,998,369.05. Following the transaction, the director owned 15,142 shares of the company’s stock, valued at $3,571,240.70. This represents a 58.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Gary N. Geisel sold 887 shares of the stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $215.79, for a total transaction of $191,405.73. Following the transaction, the insider directly owned 16,446 shares in the company, valued at $3,548,882.34. This trade represents a 5.12% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 49,092 shares of company stock valued at $11,182,250. Company insiders own 0.44% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Commonwealth Retirement Investments LLC grew its stake in M&T Bank by 0.4% in the fourth quarter. Commonwealth Retirement Investments LLC now owns 10,991 shares of the financial services provider’s stock valued at $2,214,000 after acquiring an additional 44 shares during the period. Ransom Advisory Ltd raised its position in shares of M&T Bank by 2.0% during the fourth quarter. Ransom Advisory Ltd now owns 2,513 shares of the financial services provider’s stock worth $506,000 after purchasing an additional 50 shares during the period. Wedbush Securities Inc. raised its position in shares of M&T Bank by 2.4% during the fourth quarter. Wedbush Securities Inc. now owns 2,223 shares of the financial services provider’s stock worth $448,000 after purchasing an additional 52 shares during the period. Bank of Jackson Hole Trust lifted its holdings in shares of M&T Bank by 38.7% in the 4th quarter. Bank of Jackson Hole Trust now owns 215 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 60 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its holdings in shares of M&T Bank by 0.3% in the 2nd quarter. Gamco Investors INC. ET AL now owns 20,489 shares of the financial services provider’s stock worth $3,975,000 after purchasing an additional 67 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.