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

Shares of M&T Bank Co. (NYSE:MTB) have been given an average recommendation of “Hold” by the seventeen brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $221.68.

Several equities analysts have recently issued reports on MTB shares. Barclays lifted their price target on M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Citigroup cut M&T Bank from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $220.00 to $230.00 in a report on Monday, November 25th. The Goldman Sachs Group increased their price target on M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, Evercore ISI raised their target price on shares of M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th.

Insiders Place Their Bets

In other news, Vice Chairman Gary N. Geisel sold 2,490 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total transaction of $537,566.10. Following the transaction, the insider now owns 16,429 shares of the company’s stock, valued at approximately $3,546,856.81. This represents a 13.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John P. Barnes sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $217.45, for a total value of $4,349,000.00. Following the sale, the director now directly owns 35,480 shares of the company’s stock, valued at $7,715,126. The trade was a 36.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,611 shares of company stock valued at $5,354,777 over the last ninety days. Corporate insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MTB. Plato Investment Management Ltd grew its position in shares of 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 purchasing an additional 161 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in M&T Bank during the 3rd quarter valued at approximately $32,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in M&T Bank by 329.2% in 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 during the last quarter. Y.D. More Investments Ltd increased its position in M&T Bank by 122.6% in the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock worth $39,000 after buying an additional 114 shares during the period. Finally, Human Investing LLC acquired a new position in shares of M&T Bank during the fourth quarter worth approximately $44,000. Institutional investors own 84.68% of the company’s stock.

M&T Bank Trading Down 0.8 %

MTB opened at $197.61 on Thursday. The stock has a market capitalization of $32.79 billion, a PE ratio of 13.51, a P/E/G ratio of 1.42 and a beta of 0.79. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.99. M&T Bank has a 12-month low of $130.84 and a 12-month high of $225.70. The firm’s fifty day moving average price is $196.43 and its 200 day moving average price is $188.49.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 in the prior year, the company posted $2.74 EPS. As a group, research analysts expect that M&T Bank will post 16.56 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were issued a $1.35 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.73%. M&T Bank’s dividend payout ratio is currently 36.91%.

M&T Bank announced that its board has initiated a share buyback plan on Wednesday, January 22nd that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

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.