Analysts Set M&T Bank Co. (NYSE:MTB) PT at $221.68

M&T Bank Co. (NYSE:MTB) has received a consensus rating of “Hold” from the seventeen research firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $221.68.

Several equities research analysts have recently weighed in on the stock. Truist Financial reiterated a “buy” rating and set a $236.00 target price (up previously from $233.00) on shares of M&T Bank in a research note on Friday, January 17th. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. Wells Fargo & Company boosted their target price on M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a report on Friday, November 15th. DA Davidson increased their price target on M&T Bank from $222.00 to $223.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $223.50 price objective (up from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th.

Institutional Trading of M&T Bank

Large investors have recently made changes to their positions in the stock. FMR LLC increased its stake in shares of M&T Bank by 14.3% during the 4th quarter. FMR LLC now owns 14,110,412 shares of the financial services provider’s stock valued at $2,652,899,000 after acquiring an additional 1,761,014 shares during the last quarter. State Street Corp grew its stake in shares of M&T Bank by 6.4% during the 3rd quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock valued at $1,562,725,000 after buying an additional 527,854 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of M&T Bank by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,289,727 shares of the financial services provider’s stock worth $994,522,000 after buying an additional 252,583 shares during the last quarter. Geode Capital Management LLC raised its position in shares of M&T Bank by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 4,370,762 shares of the financial services provider’s stock worth $819,768,000 after buying an additional 40,948 shares during the period. Finally, Norges Bank acquired a new position in M&T Bank in the fourth quarter valued at $317,690,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Price Performance

Shares of NYSE MTB opened at $172.18 on Monday. The stock has a market cap of $28.29 billion, a P/E ratio of 11.77, a P/E/G ratio of 1.38 and a beta of 0.74. M&T Bank has a twelve month low of $133.03 and a twelve month high of $225.70. The stock has a 50 day moving average of $193.13 and a two-hundred day moving average of $191.92. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, beating 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 period in the prior year, the business posted $2.74 earnings per share. On average, research analysts forecast that M&T Bank will post 16.57 earnings per share for the current year.

M&T Bank announced that its board has approved a stock repurchase plan on Wednesday, January 22nd that allows the company to repurchase $4.00 billion in outstanding 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 board of directors believes its shares are undervalued.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Monday, March 3rd. M&T Bank’s dividend payout ratio is currently 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.