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

M&T Bank Corporation (NYSE:MTB) has been given an average recommendation of “Hold” by the twenty-two research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, thirteen have given a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $255.9750.

A number of brokerages have recently issued reports on MTB. UBS Group boosted their target price on M&T Bank from $252.00 to $255.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Morgan Stanley upgraded M&T Bank from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $253.00 to $304.00 in a research report on Tuesday. Wells Fargo & Company lifted their price target on M&T Bank from $215.00 to $224.00 and gave the stock an “underweight” rating in a research note on Thursday, July 16th. Barclays boosted their price objective on M&T Bank from $236.00 to $267.00 and gave the stock an “equal weight” rating in a report on Thursday, July 16th. Finally, Wall Street Zen raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Monday, July 20th.

M&T Bank Trading Up 0.4%

M&T Bank stock opened at $239.06 on Friday. The firm has a market cap of $34.53 billion, a price-to-earnings ratio of 12.62, a price-to-earnings-growth ratio of 1.35 and a beta of 0.56. M&T Bank has a 1 year low of $174.76 and a 1 year high of $255.95. The firm’s 50 day moving average price is $244.84 and its two-hundred day moving average price is $226.16. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.96 and a current ratio of 0.96.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $5.35 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $0.69. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.46 billion. M&T Bank had a return on equity of 11.80% and a net margin of 22.72%.During the same quarter in the prior year, the firm earned $4.28 EPS. On average, research analysts predict that M&T Bank will post 19.45 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $1.50 per share. The ex-dividend date is Tuesday, September 1st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.5%. M&T Bank’s payout ratio is currently 31.68%.

Insider Activity at M&T Bank

In related news, Director Rudina Seseri sold 623 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $241.04, for a total value of $150,167.92. Following the completion of the sale, the director owned 3,649 shares in the company, valued at approximately $879,554.96. This represents a 14.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.44% of the company’s stock.

Institutional Trading of M&T Bank

Large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its position in shares of M&T Bank by 23,449.1% in the second quarter. California State Teachers Retirement System now owns 50,491,441 shares of the financial services provider’s stock valued at $12,017,468,000 after purchasing an additional 50,277,032 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of M&T Bank in the second quarter worth $330,978,000. Davis Asset Management L.P. bought a new stake in shares of M&T Bank during the 2nd quarter worth $97,584,000. Squarepoint Ops LLC boosted its holdings in shares of M&T Bank by 718.5% during the 2nd quarter. Squarepoint Ops LLC now owns 224,397 shares of the financial services provider’s stock worth $53,409,000 after buying an additional 196,982 shares during the period. Finally, Danske Bank A S bought a new stake in shares of M&T Bank during the 3rd quarter worth $29,612,000. 84.68% of the stock is owned by institutional investors and hedge funds.

M&T Bank Company Profile

M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Its principal banking subsidiary, Manufacturers and Traders Trust Company, commonly known as M&T Bank, provides financial products and services to individuals, businesses, institutions and government entities.

The company’s offerings include checking and savings accounts, consumer and commercial loans, residential mortgages, credit cards, treasury management and other business banking services.