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

Shares of M&T Bank Corporation (NYSE:MTB) have received a consensus recommendation of “Hold” from the twenty-one brokerages that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $235.5789.

Several equities analysts recently commented on MTB shares. Cantor Fitzgerald cut their price target on shares of M&T Bank from $255.00 to $253.00 and set an “overweight” rating on the stock in a report on Friday, April 17th. Morgan Stanley cut their price target on shares of M&T Bank from $271.00 to $245.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 31st. JPMorgan Chase & Co. cut their price target on shares of M&T Bank from $231.50 to $227.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Jefferies Financial Group upped their price target on shares of M&T Bank from $255.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Finally, The Goldman Sachs Group upped their price target on shares of M&T Bank from $231.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, April 6th.

M&T Bank Stock Performance

M&T Bank stock opened at $237.46 on Friday. The company’s 50-day moving average price is $218.54 and its 200-day moving average price is $215.03. M&T Bank has a twelve month low of $174.76 and a twelve month high of $239.00. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.44. The company has a market cap of $34.78 billion, a PE ratio of 13.30, a price-to-earnings-growth ratio of 1.17 and a beta of 0.57.

M&T Bank (NYSE:MTB) last posted its earnings results on Wednesday, April 15th. The financial services provider reported $4.18 earnings per share for the quarter, topping analysts’ consensus estimates of $4.02 by $0.16. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.43 billion. M&T Bank had a net margin of 22.07% and a return on equity of 11.35%. During the same period in the previous year, the firm posted $3.32 EPS. On average, equities research analysts forecast that M&T Bank will post 18.8 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 1st will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.5%. The ex-dividend date is Monday, June 1st. M&T Bank’s dividend payout ratio is presently 33.59%.

M&T Bank declared that its Board of Directors has approved a stock repurchase plan on Tuesday, March 31st that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 16.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, EVP Christopher E. Kay sold 3,105 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $216.50, for a total transaction of $672,232.50. Following the transaction, the executive vice president directly owned 6,753 shares in the company, valued at approximately $1,462,024.50. This represents a 31.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.44% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

Large investors have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC boosted its position in M&T Bank by 64.0% in the 3rd quarter. Fisher Asset Management LLC now owns 36,215 shares of the financial services provider’s stock valued at $7,157,000 after buying an additional 14,135 shares during the period. Delphi Management Inc. MA purchased a new stake in M&T Bank in the 4th quarter valued at about $1,524,000. Entropy Technologies LP purchased a new stake in M&T Bank in the 3rd quarter valued at about $4,571,000. LSV Asset Management boosted its position in M&T Bank by 14.5% in the 4th quarter. LSV Asset Management now owns 391,900 shares of the financial services provider’s stock valued at $78,960,000 after buying an additional 49,500 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG boosted its position in M&T Bank by 101.8% in the 3rd quarter. B. Metzler seel. Sohn & Co. AG now owns 31,910 shares of the financial services provider’s stock valued at $6,306,000 after buying an additional 16,101 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

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.