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

M&T Bank Co. (NYSE:MTB) has received an average rating of “Hold” from the seventeen ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $221.68.

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a report on Friday, November 15th. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. Barclays raised their target price on shares of M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Truist Financial reaffirmed a “buy” rating and issued a $236.00 target price (up from $233.00) on shares of M&T Bank in a research note on Friday, January 17th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $223.50 target price (up from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC grew its holdings in shares of M&T Bank by 14.3% in the fourth quarter. FMR LLC now owns 14,110,412 shares of the financial services provider’s stock worth $2,652,899,000 after purchasing an additional 1,761,014 shares during the last quarter. State Street Corp grew its holdings in shares of M&T Bank by 6.4% in the third quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock worth $1,562,725,000 after purchasing an additional 527,854 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of M&T Bank by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,289,727 shares of the financial services provider’s stock worth $994,522,000 after purchasing an additional 252,583 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of M&T Bank by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,370,762 shares of the financial services provider’s stock worth $819,768,000 after purchasing an additional 40,948 shares during the last quarter. Finally, Norges Bank bought a new position in shares of M&T Bank in the fourth quarter worth approximately $317,690,000. Institutional investors own 84.68% of the company’s stock.

M&T Bank Trading Up 0.9 %

Shares of M&T Bank stock opened at $178.62 on Monday. M&T Bank has a 12-month low of $133.03 and a 12-month high of $225.70. The company has a market cap of $29.34 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 1.38 and a beta of 0.74. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average price is $194.07 and its 200-day moving average price is $191.97.

M&T Bank (NYSE:MTB) last announced 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 business earned $2.74 EPS. On average, equities analysts expect that M&T Bank will post 16.57 earnings per share for the current fiscal year.

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

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.02%. 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.