M&T Bank Corporation (NYSE:MTB) Given Consensus Recommendation of “Hold” by Brokerages

Shares of M&T Bank Corporation (NYSE:MTB) have been given a consensus rating of “Hold” by the twenty-one brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $224.2895.

A number of equities research analysts have issued reports on MTB shares. Barclays increased their target price on shares of M&T Bank from $220.00 to $236.00 and gave the stock an “equal weight” rating in a research report on Monday, January 5th. Keefe, Bruyette & Woods increased their price objective on M&T Bank from $220.00 to $230.00 and gave the stock a “market perform” rating in a report on Wednesday, December 17th. Jefferies Financial Group lifted their price objective on M&T Bank from $250.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, January 16th. Wolfe Research lowered M&T Bank from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 7th. Finally, Bank of America reaffirmed a “neutral” rating and set a $225.00 price target on shares of M&T Bank in a research note on Wednesday, January 7th.

M&T Bank Stock Up 1.8%

Shares of M&T Bank stock opened at $232.14 on Thursday. M&T Bank has a 1 year low of $150.75 and a 1 year high of $235.77. The company has a market cap of $35.68 billion, a P/E ratio of 13.62, a P/E/G ratio of 1.00 and a beta of 0.60. The company has a current ratio of 0.90, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. The stock has a 50-day moving average price of $207.85 and a 200 day moving average price of $196.92.

M&T Bank (NYSE:MTB) last issued its earnings results on Friday, January 16th. The financial services provider reported $4.72 earnings per share for the quarter, beating analysts’ consensus estimates of $4.47 by $0.25. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.47 billion. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.During the same quarter in the prior year, the company earned $3.77 EPS. As a group, analysts expect that M&T Bank will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 1st were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Monday, December 1st. M&T Bank’s dividend payout ratio (DPR) is presently 35.19%.

Insider Buying and Selling at M&T Bank

In other news, Director John P. Barnes sold 17,866 shares of the stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $220.81, for a total transaction of $3,944,991.46. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Vice Chairman Gary N. Geisel sold 887 shares of the company’s stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $215.79, for a total transaction of $191,405.73. Following the completion of the sale, the insider owned 16,446 shares of the company’s stock, valued at $3,548,882.34. This represents a 5.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 30,003 shares of company stock valued at $6,283,182. 0.53% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MTB. Northeast Investment Management bought a new stake in M&T Bank during the fourth quarter worth approximately $824,000. Rock Point Advisors LLC lifted its stake in shares of M&T Bank by 0.9% in the fourth quarter. Rock Point Advisors LLC now owns 24,051 shares of the financial services provider’s stock worth $4,846,000 after buying an additional 225 shares during the last quarter. Valeo Financial Advisors LLC boosted its holdings in shares of M&T Bank by 5.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 2,107 shares of the financial services provider’s stock worth $424,000 after buying an additional 111 shares during the period. Plato Investment Management Ltd boosted its holdings in shares of M&T Bank by 0.9% during the 4th quarter. Plato Investment Management Ltd now owns 8,322 shares of the financial services provider’s stock worth $1,685,000 after buying an additional 71 shares during the period. Finally, Crestwood Advisors Group LLC grew its stake in M&T Bank by 8.8% in the 4th quarter. Crestwood Advisors Group LLC now owns 3,631 shares of the financial services provider’s stock valued at $732,000 after buying an additional 294 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

About M&T Bank

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid?Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle?market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.