M&T Bank Co. (NYSE:MTB) Receives Average Rating of “Moderate Buy” from Analysts

M&T Bank Co. (NYSE:MTB) has received an average rating of “Moderate Buy” from the fifteen analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $185.75.

A number of analysts have recently issued reports on the stock. Keefe, Bruyette & Woods boosted their target price on shares of M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a research note on Friday, July 19th. StockNews.com cut shares of M&T Bank from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Wolfe Research upgraded shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a research note on Friday, October 4th. Wedbush lifted their price target on shares of M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Finally, Evercore ISI raised M&T Bank from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $187.00 to $210.00 in a research note on Wednesday, October 2nd.

Insiders Place Their Bets

In other news, Director Kirk W. Walters sold 2,471 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.60, for a total value of $60,786.60. Following the sale, the director now directly owns 20,414 shares in the company, valued at approximately $502,184.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Kirk W. Walters sold 2,471 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.60, for a total transaction of $60,786.60. Following the completion of the sale, the director now owns 20,414 shares in the company, valued at approximately $502,184.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kirk W. Walters sold 7,464 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $173.97, for a total value of $1,298,512.08. Following the transaction, the director now owns 15,045 shares in the company, valued at approximately $2,617,378.65. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,699 shares of company stock worth $5,115,349. 0.82% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On M&T Bank

Several hedge funds and other institutional investors have recently modified their holdings of the stock. General Partner Inc. acquired a new position in M&T Bank during the 1st quarter valued at approximately $27,000. Fidelis Capital Partners LLC purchased a new position in M&T Bank in the 1st quarter worth $30,000. Hexagon Capital Partners LLC lifted its position in M&T Bank by 54.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 68 shares during the period. Oakworth Capital Inc. purchased a new stake in M&T Bank during the 2nd quarter valued at about $35,000. Finally, Versant Capital Management Inc increased its holdings in shares of M&T Bank by 82.7% in the second quarter. Versant Capital Management Inc now owns 444 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 201 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Stock Down 0.0 %

Shares of NYSE MTB opened at $179.08 on Friday. M&T Bank has a 1 year low of $108.53 and a 1 year high of $180.63. The firm has a 50-day simple moving average of $169.18 and a two-hundred day simple moving average of $156.55. The company has a market cap of $29.88 billion, a P/E ratio of 12.11, a PEG ratio of 3.55 and a beta of 0.75. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 1.00.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. The firm had revenue of $3.37 billion during the quarter, compared to analyst estimates 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 period last year, the company earned $5.12 EPS. Research analysts anticipate that M&T Bank will post 14.23 earnings per share for the current year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s payout ratio is currently 36.51%.

About M&T Bank

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.