M&T Bank Corporation (NYSE:MTB) Given Average Rating of “Hold” by Analysts

Shares of M&T Bank Corporation (NYSE:MTB) have been given an average recommendation of “Hold” by the twenty-two brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $221.1842.

A number of analysts recently issued reports on the stock. Citigroup raised their price objective on shares of M&T Bank from $215.00 to $225.00 and gave the stock a “neutral” rating in a report on Friday, January 2nd. Wells Fargo & Company upped their price target on shares of M&T Bank from $185.00 to $205.00 and gave the company an “underweight” rating in a research note on Monday, January 5th. The Goldman Sachs Group reissued a “neutral” rating and set a $230.00 price objective on shares of M&T Bank in a report on Tuesday. UBS Group boosted their price objective on shares of M&T Bank from $207.00 to $208.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Finally, Bank of America reissued a “neutral” rating and set a $225.00 price objective on shares of M&T Bank in a research note on Wednesday.

M&T Bank Stock Performance

MTB stock opened at $211.75 on Friday. The business has a 50 day moving average of $196.48 and a 200-day moving average of $194.54. The firm has a market cap of $32.54 billion, a PE ratio of 13.04, a P/E/G ratio of 0.93 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 company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.49.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share for the quarter. M&T Bank had a return on equity of 10.62% and a net margin of 20.91%.The business had revenue of $1.54 billion for the quarter. As a group, sell-side analysts expect that M&T Bank will post 16.57 earnings per share for the current year.

M&T Bank Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Monday, December 1st. This represents a $6.00 annualized dividend and a dividend yield of 2.8%. M&T Bank’s dividend payout ratio (DPR) is 36.95%.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 5,250 shares of M&T Bank stock in a transaction dated Wednesday, November 26th. The stock was 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. The trade was a 48.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert E. Sadler, Jr. sold 6,000 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $190.06, for a total value of $1,140,360.00. Following the completion of the transaction, the director owned 17,070 shares of the company’s stock, valued at $3,244,324.20. The trade was a 26.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.53% of the stock is currently owned by insiders.

Institutional Investors Weigh In On M&T Bank

Institutional investors have recently bought and sold shares of the stock. Ransom Advisory Ltd increased its stake in M&T Bank by 2.0% in the 4th 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. Crestwood Advisors Group LLC grew its holdings in shares of M&T Bank by 1.7% in the second quarter. Crestwood Advisors Group LLC now owns 3,237 shares of the financial services provider’s stock worth $628,000 after purchasing an additional 54 shares during the last quarter. Arkadios Wealth Advisors lifted its stake in shares of M&T Bank by 5.1% in the 2nd quarter. Arkadios Wealth Advisors now owns 1,312 shares of the financial services provider’s stock valued at $254,000 after purchasing an additional 64 shares during the period. Gamco Investors INC. ET AL boosted its position in shares of M&T Bank by 0.3% during the second quarter. Gamco Investors INC. ET AL now owns 20,489 shares of the financial services provider’s stock valued at $3,975,000 after purchasing an additional 67 shares in the last quarter. Finally, Wedbush Securities Inc. grew its stake in M&T Bank by 3.3% in the third quarter. Wedbush Securities Inc. now owns 2,171 shares of the financial services provider’s stock worth $429,000 after purchasing an additional 70 shares during the period. 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.