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

M&T Bank Corporation (NYSE:MTB) has been assigned an average recommendation of “Hold” from the twenty-two brokerages that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $252.2750.

A number of analysts have recently weighed in on MTB shares. Truist Financial increased their price objective on shares of M&T Bank from $230.00 to $268.00 and gave the stock a “hold” rating in a research note on Tuesday, July 21st. UBS Group boosted their target price on shares of M&T Bank from $252.00 to $255.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Wells Fargo & Company upped their price target on shares of M&T Bank from $215.00 to $224.00 and gave the company an “underweight” rating in a report on Thursday, July 16th. Barclays increased their price target on M&T Bank from $236.00 to $267.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. Finally, Royal Bank Of Canada boosted their price objective on M&T Bank from $230.00 to $255.00 and gave the company an “outperform” rating in a report on Thursday, July 16th.

M&T Bank Price Performance

Shares of NYSE MTB opened at $254.16 on Monday. M&T Bank has a 52 week low of $174.76 and a 52 week high of $255.68. The business’s 50 day moving average price is $241.26 and its 200 day moving average price is $224.67. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.53. The firm has a market cap of $36.71 billion, a P/E ratio of 13.42, a P/E/G ratio of 1.18 and a beta of 0.57.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.66 by $0.69. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same period last year, the firm posted $4.28 EPS. On average, sell-side analysts expect that M&T Bank will post 19.42 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MTB. LSV Asset Management raised its position in shares of M&T Bank by 14.5% in the fourth quarter. LSV Asset Management now owns 391,900 shares of the financial services provider’s stock worth $78,960,000 after acquiring an additional 49,500 shares during the period. Adams Diversified Equity Fund Inc. grew its position in shares of M&T Bank by 22.8% during the 1st quarter. Adams Diversified Equity Fund Inc. now owns 119,900 shares of the financial services provider’s stock valued at $24,786,000 after acquiring an additional 22,300 shares during the period. Allstate Corp increased its stake in shares of M&T Bank by 99.4% in the 4th quarter. Allstate Corp now owns 11,242 shares of the financial services provider’s stock valued at $2,265,000 after purchasing an additional 5,604 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of M&T Bank by 34.8% in the 1st quarter. SG Americas Securities LLC now owns 85,770 shares of the financial services provider’s stock valued at $17,730,000 after purchasing an additional 22,132 shares in the last quarter. Finally, Entropy Technologies LP raised its holdings in M&T Bank by 107.6% in the 4th quarter. Entropy Technologies LP now owns 48,018 shares of the financial services provider’s stock worth $9,675,000 after purchasing an additional 24,887 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

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.