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

Shares of M&T Bank Co. (NYSE:MTB) have received a consensus rating of “Hold” from the thirteen ratings firms that are covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $150.17.

A number of research firms recently issued reports on MTB. Morgan Stanley lifted their target price on M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. DA Davidson reaffirmed a “neutral” rating and issued a $159.00 price target on shares of M&T Bank in a report on Wednesday, March 6th. Evercore ISI raised their price objective on M&T Bank from $146.00 to $157.00 and gave the stock an “in-line” rating in a research note on Thursday. StockNews.com lowered M&T Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. Finally, Piper Sandler dropped their price target on M&T Bank from $156.00 to $152.00 and set an “overweight” rating on the stock in a research note on Friday, January 19th.

M&T Bank Stock Performance

Shares of MTB opened at $145.44 on Monday. The firm has a market cap of $24.23 billion, a price-to-earnings ratio of 9.22, a PEG ratio of 1.28 and a beta of 0.79. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.33. The business’s 50 day moving average is $139.34 and its two-hundred day moving average is $131.49. M&T Bank has a 52-week low of $108.53 and a 52-week high of $148.23.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Thursday, January 18th. The financial services provider reported $2.74 earnings per share for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.36). The company had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $2.27 billion. M&T Bank had a net margin of 21.49% and a return on equity of 11.59%. During the same quarter in the prior year, the firm earned $4.57 earnings per share. Analysts forecast that M&T Bank will post 13.87 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date was Friday, March 1st. M&T Bank’s dividend payout ratio is 32.95%.

Insider Activity at M&T Bank

In other news, EVP Doris P. Meister sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $132.30, for a total transaction of $132,300.00. Following the sale, the executive vice president now directly owns 7,274 shares in the company, valued at $962,350.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Kirk W. Walters sold 28,845 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the sale, the director now owns 6,367 shares in the company, valued at approximately $923,215. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Doris P. Meister sold 1,000 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $132.30, for a total transaction of $132,300.00. Following the sale, the executive vice president now owns 7,274 shares of the company’s stock, valued at approximately $962,350.20. The disclosure for this sale can be found here. Insiders sold a total of 35,481 shares of company stock worth $5,114,624 in the last 90 days. 0.82% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Virtu Financial LLC raised its position in M&T Bank by 17,405.3% in the 1st quarter. Virtu Financial LLC now owns 5,273,474 shares of the financial services provider’s stock worth $105,417,000 after purchasing an additional 5,243,349 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in M&T Bank by 113.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 313,302 shares of the financial services provider’s stock valued at $42,949,000 after purchasing an additional 2,645,478 shares during the period. Spring Creek Capital LLC grew its position in shares of M&T Bank by 217.0% during the 1st quarter. Spring Creek Capital LLC now owns 3,339,643 shares of the financial services provider’s stock worth $66,759,000 after buying an additional 2,286,251 shares during the period. Norges Bank bought a new position in M&T Bank in the fourth quarter valued at approximately $232,322,000. Finally, Goldman Sachs Group Inc. grew its holdings in M&T Bank by 76.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,560,334 shares of the financial services provider’s stock worth $71,171,000 after acquiring an additional 1,538,436 shares during the period. Institutional investors own 84.68% of the company’s stock.

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.