M&T Bank Co. (NYSE:MTB) Receives $221.68 Average Target Price from Analysts

M&T Bank Co. (NYSE:MTB) has received an average recommendation of “Hold” from the seventeen research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $222.03.

MTB has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price target on shares of M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a report on Friday, November 15th. Citigroup downgraded M&T Bank from a “buy” rating to a “neutral” rating and increased their target price for the company from $220.00 to $230.00 in a research note on Monday, November 25th. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. Compass Point increased 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. Finally, Barclays raised their price objective on shares of M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th.

Insider Transactions at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the sale, the executive vice president now directly owns 10,751 shares in the company, valued at $1,852,827.34. This represents a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.53% of the stock is currently owned by insiders.

Hedge Funds Weigh In On M&T Bank

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTB. Hennion & Walsh Asset Management Inc. grew its holdings in shares of M&T Bank by 34.7% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 7,835 shares of the financial services provider’s stock worth $1,473,000 after purchasing an additional 2,018 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in M&T Bank during the 3rd quarter worth about $44,000. Flagship Harbor Advisors LLC grew its holdings in M&T Bank by 89.8% during the 4th quarter. Flagship Harbor Advisors LLC now owns 2,737 shares of the financial services provider’s stock worth $515,000 after acquiring an additional 1,295 shares during the last quarter. Summit Trail Advisors LLC bought a new stake in M&T Bank during the 4th quarter worth about $290,000. Finally, US Bancorp DE increased its position in M&T Bank by 24.3% in the 4th quarter. US Bancorp DE now owns 8,382 shares of the financial services provider’s stock valued at $1,576,000 after acquiring an additional 1,639 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Stock Performance

Shares of NYSE MTB opened at $175.69 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99. M&T Bank has a one year low of $133.03 and a one year high of $225.70. The business’s 50-day moving average price is $192.44 and its two-hundred day moving average price is $191.83. The company has a market capitalization of $28.86 billion, a P/E ratio of 12.01, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.70 by $0.22. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same period last year, the firm posted $2.74 earnings per share. Analysts anticipate that M&T Bank will post 16.57 earnings per share for the current fiscal year.

M&T Bank announced that its board has authorized a stock repurchase plan on Wednesday, January 22nd that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Monday, March 3rd. M&T Bank’s dividend payout ratio is 36.91%.

M&T Bank Company Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management and investment services. It operates through the following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.