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

M&T Bank Co. (NYSE:MTBGet Free Report) has been given an average recommendation of “Hold” by the fourteen analysts that are currently covering the company, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $161.58.

A number of equities analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 16th. Bank of America upped their price objective on shares of M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Jefferies Financial Group upped their price objective on shares of M&T Bank from $160.00 to $161.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Piper Sandler reaffirmed an “overweight” rating and issued a $164.00 price objective on shares of M&T Bank in a research note on Friday, June 21st. Finally, JPMorgan Chase & Co. upped their price objective on shares of M&T Bank from $170.00 to $180.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th.

View Our Latest Stock Report on M&T Bank

M&T Bank Price Performance

Shares of NYSE:MTB opened at $149.80 on Wednesday. The company’s fifty day moving average price is $148.74 and its 200-day moving average price is $142.54. The firm has a market capitalization of $24.99 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 2.88 and a beta of 0.77. M&T Bank has a one year low of $108.53 and a one year high of $156.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.00 and a quick ratio of 1.00.

M&T Bank (NYSE:MTBGet Free Report) last issued its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same period in the previous year, the company earned $4.09 EPS. On average, equities research analysts anticipate that M&T Bank will post 13.99 earnings per share for the current fiscal year.

M&T Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were given a dividend of $1.35 per share. The ex-dividend date was Monday, June 3rd. This represents a $5.40 annualized dividend and a yield of 3.60%. This is a boost from M&T Bank’s previous quarterly dividend of $1.30. M&T Bank’s dividend payout ratio is presently 36.51%.

Insiders Place Their Bets

In other M&T Bank news, Director John P. Barnes sold 10,000 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $147.11, for a total value of $1,471,100.00. Following the completion of the transaction, the director now directly owns 34,545 shares in the company, valued at approximately $5,081,914.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other M&T Bank news, Director John P. Barnes sold 10,000 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $147.11, for a total value of $1,471,100.00. Following the completion of the transaction, the director now directly owns 34,545 shares in the company, valued at approximately $5,081,914.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Doris P. Meister sold 1,638 shares of the company’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total transaction of $226,387.98. Following the completion of the transaction, the executive vice president now owns 3,362 shares of the company’s stock, valued at $464,662.02. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,553 shares of company stock worth $14,724,147. 0.82% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Massachusetts Financial Services Co. MA increased its stake in shares of M&T Bank by 0.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,730,853 shares of the financial services provider’s stock worth $237,265,000 after acquiring an additional 4,419 shares in the last quarter. Norges Bank bought a new position in shares of M&T Bank in the 4th quarter worth about $232,322,000. Dimensional Fund Advisors LP increased its stake in shares of M&T Bank by 7.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,451,856 shares of the financial services provider’s stock worth $199,037,000 after acquiring an additional 100,008 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of M&T Bank by 8.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 546,751 shares of the financial services provider’s stock worth $74,949,000 after acquiring an additional 41,523 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of M&T Bank by 7.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 497,503 shares of the financial services provider’s stock worth $72,357,000 after acquiring an additional 35,692 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Company Profile

(Get Free Report

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.

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Analyst Recommendations for M&T Bank (NYSE:MTB)

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