M&T Bank Co. (NYSE:MTB) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of M&T Bank Co. (NYSE:MTB) have earned a consensus recommendation of “Hold” from the seventeen research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $222.03.

Several brokerages have commented on MTB. Truist Financial reissued a “buy” rating and set a $236.00 price objective (up previously from $233.00) on shares of M&T Bank in a research report on Friday, January 17th. Citigroup lowered M&T Bank from a “buy” rating to a “neutral” rating and raised their price objective for the company from $220.00 to $230.00 in a research report on Monday, November 25th. Morgan Stanley lowered their price objective on M&T Bank from $269.00 to $253.00 and set an “overweight” rating for the company in a research report on Thursday. DA Davidson lifted their price target on 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, StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the sale, the executive vice president now directly owns 10,751 shares in the company, valued at $1,852,827.34. The trade was a 13.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

A number of large investors have recently made changes to their positions in the company. FMR LLC grew 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 period. 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 acquiring an additional 527,854 shares during the period. Charles Schwab Investment Management Inc. grew its stake 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 valued at $994,522,000 after acquiring an additional 252,583 shares during the period. Geode Capital Management LLC grew its stake in shares of M&T Bank by 0.9% during the 4th 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 period. Finally, Norges Bank bought a new position in M&T Bank in the 4th quarter worth approximately $317,690,000. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Stock Performance

NYSE:MTB opened at $175.69 on Monday. The stock has a market cap of $28.86 billion, a P/E ratio of 12.01, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74. The firm’s fifty day simple moving average is $192.44 and its 200 day simple moving average is $192.15. M&T Bank has a twelve month low of $133.03 and a twelve month high of $225.70. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data 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 quarter last year, the company earned $2.74 earnings per share. As a group, research analysts predict that M&T Bank will post 16.57 EPS for the current year.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.07%. M&T Bank’s dividend payout ratio is currently 36.91%.

M&T Bank announced that its board has initiated a share buyback plan 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 stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is 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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.