M&T Bank Co. (NYSE:MTB) Receives $175.85 Consensus Target Price from Analysts

M&T Bank Co. (NYSE:MTB) has earned an average recommendation of “Hold” from the fifteen analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $175.85.

MTB has been the topic of a number of recent analyst reports. Evercore ISI lifted their price target on shares of M&T Bank from $157.00 to $168.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. Piper Sandler upped their price target on shares of M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Morgan Stanley raised their price target on M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, July 19th. Finally, Wells Fargo & Company downgraded M&T Bank from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $170.00 to $165.00 in a research report on Thursday, August 15th.

M&T Bank Price Performance

MTB opened at $174.05 on Monday. The stock has a fifty day moving average price of $166.48 and a 200 day moving average price of $152.98. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. M&T Bank has a 1 year low of $108.53 and a 1 year high of $177.61. The stock has a market cap of $29.04 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 3.32 and a beta of 0.76.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. The firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $2.27 billion. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. During the same quarter in the prior year, the company posted $5.12 earnings per share. Analysts forecast that M&T Bank will post 14.24 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Tuesday, September 3rd. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

Insider Transactions at M&T Bank

In other news, Vice Chairman Gary N. Geisel sold 500 shares of M&T Bank stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total transaction of $86,250.00. Following the completion of the transaction, the insider now directly owns 16,429 shares in the company, valued at approximately $2,834,002.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other M&T Bank news, Vice Chairman Gary N. Geisel sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total transaction of $86,250.00. Following the completion of the sale, the insider now directly owns 16,429 shares in the company, valued at $2,834,002.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total value of $172,230.00. Following the completion of the sale, the director now owns 31,796 shares of the company’s stock, valued at $5,476,225.08. The disclosure for this sale can be found here. Insiders have sold 32,699 shares of company stock worth $5,115,349 in the last ninety days. Insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

Large investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA increased its stake in shares of M&T Bank by 4.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock valued at $269,696,000 after purchasing an additional 81,004 shares during the last quarter. Norges Bank acquired a new position in M&T Bank during the fourth quarter worth about $232,322,000. Dimensional Fund Advisors LP raised its stake in M&T Bank by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock worth $244,129,000 after acquiring an additional 93,113 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of M&T Bank by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 1,513,452 shares of the financial services provider’s stock worth $229,076,000 after acquiring an additional 44,442 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of M&T Bank by 3.2% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,398,199 shares of the financial services provider’s stock valued at $211,631,000 after purchasing an additional 43,795 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Company Profile

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.