M&T Bank Co. (NYSE:MTB) Receives Consensus Rating of “Hold” from Brokerages

Shares of M&T Bank Co. (NYSE:MTB) have been given an average rating of “Hold” by the sixteen research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $206.41.

MTB has been the subject of a number of recent research reports. Wolfe Research upgraded M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective for the company in a research note on Friday, October 4th. Citigroup lowered M&T Bank from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $220.00 to $230.00 in a research report on Monday, November 25th. DA Davidson increased their price objective on shares of M&T Bank from $192.00 to $207.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Wedbush raised their price objective 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, Bank of America upped their target price on shares of M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a research note on Friday, October 18th.

M&T Bank Stock Down 0.4 %

NYSE:MTB opened at $219.99 on Friday. M&T Bank has a 1-year low of $125.61 and a 1-year high of $225.70. The company has a market capitalization of $36.50 billion, a PE ratio of 16.28, a P/E/G ratio of 3.11 and a beta of 0.74. The firm’s 50-day moving average price is $196.45 and its 200-day moving average price is $171.86. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. The business had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.30 billion. On average, equities analysts predict that M&T Bank will post 14.57 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Monday, December 2nd. M&T Bank’s payout ratio is currently 39.97%.

Insider Buying and Selling at M&T Bank

In other news, EVP Tracy S. Woodrow sold 2,121 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total transaction of $468,210.75. Following the completion of the sale, the executive vice president now owns 5,141 shares of the company’s stock, valued at $1,134,875.75. This represents a 29.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Kevin J. Pearson sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $195.88, for a total transaction of $1,469,100.00. Following the sale, the insider now owns 40,502 shares of the company’s stock, valued at $7,933,531.76. This trade represents a 15.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,504 shares of company stock valued at $18,394,012. 0.82% of the stock is owned by company insiders.

Hedge Funds Weigh In On M&T Bank

A number of institutional investors have recently bought and sold shares of MTB. FMR LLC increased its position in M&T Bank by 13.9% in the third quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock worth $2,199,675,000 after buying an additional 1,508,846 shares in the last quarter. State Street Corp grew its stake in shares of M&T Bank by 6.4% during the 3rd quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock valued at $1,562,725,000 after acquiring an additional 527,854 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in M&T Bank by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock worth $897,216,000 after acquiring an additional 190,837 shares in the last quarter. Geode Capital Management LLC raised its stake in M&T Bank by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,329,814 shares of the financial services provider’s stock worth $768,824,000 after acquiring an additional 66,337 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in M&T Bank by 4.8% during the second 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 in the last quarter. 84.68% of the stock is owned by institutional investors.

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.