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

Shares of M&T Bank Co. (NYSE:MTB) have been given an average recommendation of “Hold” by the seventeen brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $215.97.

Several research firms have recently issued reports on MTB. Wells Fargo & Company decreased their price objective on shares of M&T Bank from $205.00 to $185.00 and set an “underweight” rating for the company in a report on Friday, March 28th. Morgan Stanley reduced their target price on shares of M&T Bank from $269.00 to $253.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Barclays upped their target price on M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. DA Davidson lifted their target price on shares of M&T Bank from $222.00 to $223.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Finally, Truist Financial reduced their target price on M&T Bank from $236.00 to $225.00 and set a “buy” rating for the company in a report on Friday, April 4th.

Insider Buying and Selling

In other news, EVP Christopher E. Kay sold 1,738 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the completion of the sale, the executive vice president now directly owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. This represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

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

M&T Bank Price Performance

Shares of NYSE MTB opened at $157.82 on Friday. The firm has a market capitalization of $25.93 billion, a PE ratio of 10.79, a P/E/G ratio of 1.38 and a beta of 0.58. The business’s fifty day moving average price is $182.07 and its two-hundred day moving average price is $191.87. M&T Bank has a 1-year low of $133.03 and a 1-year high of $225.70. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB) last posted its 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 return on equity of 10.12% and a net margin of 19.24%. During the same period in the previous year, the company posted $2.74 EPS. On average, research analysts expect that M&T Bank will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were paid a dividend of $1.35 per share. The ex-dividend date was Monday, March 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.42%. M&T Bank’s dividend payout ratio (DPR) is presently 36.91%.

M&T Bank announced that its board has initiated a stock buyback program on Wednesday, January 22nd that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

About M&T Bank

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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.