M&T Bank Co. (NYSE:MTB) Given Consensus Recommendation of “Hold” by Brokerages

Shares of M&T Bank Co. (NYSE:MTB) have received an average rating of “Hold” from the sixteen research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $215.50.

Several research firms have commented on MTB. Bank of America increased their price objective on shares of M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research report on Friday, October 18th. The Goldman Sachs Group increased their price target on shares of M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Compass Point upped their price objective on M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Piper Sandler raised their price objective on M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Finally, Evercore ISI boosted their target price on M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th.

M&T Bank Stock Performance

MTB opened at $190.91 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $31.68 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 2.83 and a beta of 0.76. The company has a fifty day moving average of $204.28 and a 200 day moving average of $177.94. M&T Bank has a fifty-two week low of $128.31 and a fifty-two week high of $225.70.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.60 by $0.48. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. As a group, sell-side analysts forecast that M&T Bank will post 14.63 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Monday, December 2nd. M&T Bank’s payout ratio is 39.97%.

Insider Activity

In other M&T Bank news, Director John P. Barnes sold 20,000 shares of the company’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $193.97, for a total transaction of $3,879,400.00. Following the completion of the sale, the director now owns 49,960 shares in the company, valued at $9,690,741.20. This represents a 28.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John R. Taylor sold 1,436 shares of M&T Bank stock in a transaction on Monday, October 28th. The shares were sold at an average price of $195.03, for a total value of $280,063.08. Following the completion of the transaction, the executive vice president now owns 5,618 shares in the company, valued at $1,095,678.54. This represents a 20.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 84,994 shares of company stock worth $17,211,278. Company insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Plato Investment Management Ltd boosted its stake in M&T Bank by 2,300.0% in the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 161 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of M&T Bank in the 3rd quarter worth $32,000. Hexagon Capital Partners LLC grew its stake 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 buying an additional 68 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in M&T Bank by 329.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after buying an additional 158 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in M&T Bank in the third quarter valued at about $44,000. Hedge funds and other institutional investors 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.