M&T Bank Co. (NYSE:MTB) Given Average Rating of “Hold” by Brokerages

Shares of M&T Bank Co. (NYSE:MTB) have been given a consensus recommendation of “Hold” by the fourteen brokerages that are currently covering the firm, MarketBeat.com reports. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $158.48.

A number of brokerages have issued reports on MTB. Jefferies Financial Group decreased their price objective on M&T Bank from $154.00 to $151.00 and set a “hold” rating on the stock in a research report on Monday, April 8th. Piper Sandler decreased their price objective on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a research note on Friday, January 19th. Bank of America raised their price target on M&T Bank from $157.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Morgan Stanley increased their target price on M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Finally, UBS Group upped their price target on shares of M&T Bank from $139.00 to $154.00 in a report on Wednesday, January 17th.

M&T Bank Trading Down 0.7 %

Shares of M&T Bank stock opened at $146.90 on Friday. The firm has a market cap of $24.48 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 1.23 and a beta of 0.80. The business has a 50-day moving average price of $140.84 and a 200-day moving average price of $133.63. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. M&T Bank has a twelve month low of $108.53 and a twelve month high of $148.25.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.13 by ($0.11). M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the prior year, the firm posted $4.09 EPS. Equities research analysts anticipate that M&T Bank will post 13.92 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were issued a dividend of $1.30 per share. The ex-dividend date was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a yield of 3.54%. M&T Bank’s dividend payout ratio is currently 35.16%.

Insider Buying and Selling at M&T Bank

In related news, EVP Doris P. Meister sold 1,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $132.30, for a total transaction of $132,300.00. Following the completion of the sale, the executive vice president now directly owns 7,274 shares in the company, valued at approximately $962,350.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $132.30, for a total transaction of $132,300.00. Following the completion of the sale, the executive vice president now directly owns 7,274 shares of the company’s stock, valued at $962,350.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Doris P. Meister sold 1,675 shares of M&T Bank stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $137.91, for a total transaction of $230,999.25. Following the completion of the transaction, the executive vice president now directly owns 8,961 shares in the company, valued at approximately $1,235,811.51. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,119 shares of company stock valued at $5,341,012. 0.82% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On M&T Bank

A number of large investors have recently made changes to their positions in the business. Invesco Ltd. increased its position in M&T Bank by 15.5% during the 3rd quarter. Invesco Ltd. now owns 4,840,950 shares of the financial services provider’s stock valued at $612,138,000 after buying an additional 650,796 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of M&T Bank by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,595,687 shares of the financial services provider’s stock worth $454,675,000 after acquiring an additional 41,790 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of M&T Bank by 0.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,730,853 shares of the financial services provider’s stock valued at $237,265,000 after acquiring an additional 4,419 shares in the last quarter. Norges Bank purchased a new position in shares of M&T Bank in the 4th quarter valued at approximately $232,322,000. Finally, Northern Trust Corp boosted its stake in M&T Bank by 3.7% in the 3rd quarter. Northern Trust Corp now owns 1,671,837 shares of the financial services provider’s stock worth $211,404,000 after purchasing an additional 59,690 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 operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.