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

Shares of M&T Bank Co. (NYSE:MTB) have received an average rating of “Hold” from the seventeen brokerages that are presently covering the stock, Marketbeat.com reports. One investment 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 target price among brokerages that have issued ratings on the stock in the last year is $216.62.

Several research firms recently weighed in on MTB. Truist Financial reiterated a “buy” rating and issued a $236.00 target price (up previously from $233.00) on shares of M&T Bank in a report on Friday, January 17th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. Citigroup decreased their target price on M&T Bank from $230.00 to $195.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Evercore ISI dropped their target price on M&T Bank from $234.00 to $205.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. Finally, Compass Point raised their price objective on shares of M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th.

M&T Bank Stock Performance

Shares of M&T Bank stock opened at $163.38 on Friday. The firm has a market cap of $26.84 billion, a PE ratio of 11.17, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. M&T Bank has a 52 week low of $133.03 and a 52 week high of $225.70. The business’s fifty day simple moving average is $187.65 and its 200-day simple moving average is $192.65.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, topping 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 quarter last year, the firm earned $2.74 earnings per share. Equities analysts forecast that M&T Bank will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend was Monday, March 3rd. M&T Bank’s dividend payout ratio (DPR) is presently 36.91%.

M&T Bank declared that its Board of Directors has initiated a share repurchase program on Wednesday, January 22nd that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total transaction of $299,526.92. Following the transaction, the executive vice president now owns 10,751 shares in the company, valued at approximately $1,852,827.34. The trade was a 13.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

Institutional Trading of M&T Bank

Several hedge funds have recently modified their holdings of MTB. Wood Tarver Financial Group LLC purchased a new position in M&T Bank in the fourth quarter worth $29,000. Banque Transatlantique SA purchased a new stake in shares of M&T Bank during the 4th quarter worth $38,000. Y.D. More Investments Ltd grew its stake in shares of M&T Bank by 122.6% during the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 114 shares during the period. Human Investing LLC purchased a new position in shares of M&T Bank in the 4th quarter valued at about $44,000. Finally, Sierra Ocean LLC acquired a new stake in shares of M&T Bank in the fourth quarter valued at about $44,000. 84.68% of the stock is owned by institutional investors and hedge funds.

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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.