M&T Bank’s (MTB) “Neutral” Rating Reiterated at Bank of America

Bank of America reissued their neutral rating on shares of M&T Bank (NYSE:MTB) in a report released on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has a $225.00 price objective on the financial services provider’s stock.

Several other research firms have also commented on MTB. Weiss Ratings reiterated a “buy (b-)” rating on shares of M&T Bank in a research report on Monday, December 29th. Wall Street Zen raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Cantor Fitzgerald assumed coverage on M&T Bank in a research note on Wednesday, September 10th. They set an “overweight” rating and a $228.00 price objective on the stock. Evercore ISI downgraded M&T Bank from an “outperform” rating to a “hold” rating and upped their price objective for the company from $210.00 to $225.00 in a research report on Tuesday. Finally, Piper Sandler assumed coverage on M&T Bank in a report on Monday, October 6th. They issued an “overweight” rating and a $225.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $221.18.

M&T Bank Trading Down 0.9%

Shares of MTB stock opened at $211.75 on Wednesday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $32.54 billion, a price-to-earnings ratio of 13.04, a price-to-earnings-growth ratio of 0.94 and a beta of 0.59. M&T Bank has a 12-month low of $150.75 and a 12-month high of $215.49. The stock’s 50-day moving average price is $196.48 and its 200-day moving average price is $194.51.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share for the quarter. The business had revenue of $1.54 billion during the quarter. M&T Bank had a return on equity of 10.62% and a net margin of 20.91%. Equities research analysts predict that M&T Bank will post 16.57 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Monday, December 1st. M&T Bank’s dividend payout ratio (DPR) is 36.95%.

Insider Transactions at M&T Bank

In other news, Director Robert E. Sadler, Jr. sold 6,000 shares of the firm’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 transaction of $1,140,360.00. Following the transaction, the director directly owned 17,070 shares of the company’s stock, valued at approximately $3,244,324.20. This trade represents a 26.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Christopher E. Kay sold 5,250 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $191.70, for a total value 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. The trade was a 48.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

Hedge funds have recently made changes to their positions in the company. Baird Financial Group Inc. raised its holdings in shares of M&T Bank by 9.6% in the first quarter. Baird Financial Group Inc. now owns 4,798 shares of the financial services provider’s stock valued at $858,000 after acquiring an additional 420 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of M&T Bank by 94.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,488 shares of the financial services provider’s stock worth $5,985,000 after purchasing an additional 16,231 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of M&T Bank by 20.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,097,864 shares of the financial services provider’s stock valued at $196,243,000 after purchasing an additional 187,780 shares in the last quarter. Ashton Thomas Private Wealth LLC increased its holdings in M&T Bank by 7.0% during the first quarter. Ashton Thomas Private Wealth LLC now owns 5,200 shares of the financial services provider’s stock valued at $930,000 after buying an additional 338 shares during the period. Finally, Caxton Associates LLP bought a new position in M&T Bank in the first quarter worth approximately $922,000. 84.68% of the stock is currently 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.