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

M&T Bank Co. (NYSE:MTB) has been given an average rating of “Hold” by the sixteen ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $206.41.

Several analysts have weighed in on MTB shares. Bank of America raised their price target on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a report on Friday, October 18th. Barclays lifted their target price on shares of M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Morgan Stanley increased their price target on shares of M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Citigroup downgraded shares of M&T Bank from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $220.00 to $230.00 in a report on Monday, November 25th. Finally, Wolfe Research raised M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a research note on Friday, October 4th.

Insider Activity

In related news, CEO Rene F. Jones sold 23,071 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $193.88, for a total transaction of $4,473,005.48. Following the transaction, the chief executive officer now owns 77,226 shares in the company, valued at $14,972,576.88. The trade was a 23.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John P. Barnes sold 20,000 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $193.97, for a total value of $3,879,400.00. Following the completion of the sale, the director now owns 49,960 shares of the company’s stock, valued at approximately $9,690,741.20. This trade represents a 28.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,504 shares of company stock valued at $18,394,012. 0.82% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MTB. Hedeker Wealth LLC boosted its stake in shares of M&T Bank by 1.6% during the 3rd quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider’s stock valued at $627,000 after purchasing an additional 55 shares in the last quarter. Frank Rimerman Advisors LLC lifted its holdings in M&T Bank by 1.0% in the third quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider’s stock worth $1,005,000 after buying an additional 57 shares during the period. Crestwood Advisors Group LLC boosted its position in M&T Bank by 1.9% during the 3rd quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock valued at $553,000 after acquiring an additional 57 shares in the last quarter. Hexagon Capital Partners LLC boosted its position in M&T Bank by 54.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 68 shares in the last quarter. Finally, Meitav Investment House Ltd. grew its holdings in shares of M&T Bank by 3.1% during the 3rd quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider’s stock worth $386,000 after acquiring an additional 69 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Stock Performance

M&T Bank stock opened at $219.99 on Friday. The firm’s 50 day simple moving average is $196.45 and its 200 day simple moving average is $171.86. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44. M&T Bank has a 1-year low of $125.61 and a 1-year high of $225.70. The firm has a market capitalization of $36.50 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 3.11 and a beta of 0.74.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.60 by $0.48. The firm had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.30 billion. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. As a group, analysts expect that M&T Bank will post 14.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be given a $1.35 dividend. The ex-dividend date is Monday, December 2nd. This represents a $5.40 annualized dividend and a yield of 2.45%. M&T Bank’s payout ratio is currently 39.97%.

M&T Bank Company Profile

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.