M&T Bank Corporation (NYSE:MTB) Given Average Rating of “Hold” by Analysts

Shares of M&T Bank Corporation (NYSE:MTB) have received a consensus recommendation of “Hold” from the twenty-two ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $251.4250.

A number of research firms have recently commented on MTB. Wall Street Zen raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Monday. Cantor Fitzgerald upped their price objective on shares of M&T Bank from $253.00 to $262.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Argus raised their target price on shares of M&T Bank from $230.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of M&T Bank in a report on Thursday, June 4th. Finally, Morgan Stanley boosted their target price on shares of M&T Bank from $245.00 to $253.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th.

Insider Activity at M&T Bank

In related news, EVP Christopher E. Kay sold 3,105 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $216.50, for a total transaction of $672,232.50. Following the completion of the transaction, the executive vice president owned 6,753 shares of the company’s stock, valued at approximately $1,462,024.50. The trade was a 31.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.44% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Bogart Wealth LLC lifted its holdings in shares of M&T Bank by 233.3% during the first quarter. Bogart Wealth LLC now owns 120 shares of the financial services provider’s stock worth $25,000 after buying an additional 84 shares during the last quarter. Triumph Capital Management acquired a new stake in shares of M&T Bank in the third quarter worth $32,000. Elyxium Wealth LLC bought a new position in M&T Bank during the fourth quarter worth $33,000. Bank of Jackson Hole Trust increased its position in M&T Bank by 38.7% during the fourth quarter. Bank of Jackson Hole Trust now owns 215 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 60 shares during the period. Finally, Hoese & Co LLP acquired a new position in M&T Bank during the 4th quarter valued at $50,000. 84.68% of the stock is owned by institutional investors.

M&T Bank Stock Performance

Shares of NYSE MTB opened at $250.85 on Thursday. The business’s 50-day simple moving average is $228.54 and its 200-day simple moving average is $220.06. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.94 and a current ratio of 0.89. M&T Bank has a 52 week low of $174.76 and a 52 week high of $255.00. The firm has a market cap of $36.74 billion, a price-to-earnings ratio of 13.24, a P/E/G ratio of 1.15 and a beta of 0.57.

M&T Bank (NYSE:MTB) last posted its earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share for the quarter, topping the consensus estimate of $4.66 by $0.69. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.46 billion. M&T Bank had a return on equity of 11.80% and a net margin of 22.72%.During the same period in the previous year, the company earned $4.28 EPS. As a group, equities research analysts expect that M&T Bank will post 19.44 earnings per share for the current fiscal year.

M&T Bank declared that its board has approved a share repurchase program on Tuesday, March 31st that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 16.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

M&T Bank Company Profile

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.