Citigroup Issues Pessimistic Forecast for M&T Bank (NYSE:MTB) Stock Price

M&T Bank (NYSE:MTB) had its price objective reduced by Citigroup from $230.00 to $195.00 in a report issued on Monday,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Several other equities research analysts have also recently weighed in on the company. Keefe, Bruyette & Woods upped their price target on M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Evercore ISI decreased their price target on shares of M&T Bank from $234.00 to $205.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $223.50 price objective (up previously from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. Piper Sandler raised their target price on shares of M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Finally, The Goldman Sachs Group upped their price target on M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $219.97.

M&T Bank Trading Down 0.5 %

NYSE:MTB opened at $182.10 on Monday. The company has a 50-day moving average price of $190.20 and a 200-day moving average price of $192.48. The stock has a market cap of $29.92 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 1.38 and a beta of 0.74. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. M&T Bank has a 12 month low of $133.03 and a 12 month high of $225.70.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share 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 in the previous year, the business posted $2.74 EPS. Equities analysts predict that M&T Bank will post 16.57 EPS for the current year.

M&T Bank announced that its Board of Directors has initiated a stock buyback program on Wednesday, January 22nd that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 12.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be paid a $1.35 dividend. The ex-dividend date is Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.97%. M&T Bank’s dividend payout ratio is presently 36.91%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On M&T Bank

Several institutional investors have recently made changes to their positions in MTB. Wood Tarver Financial Group LLC purchased a new position in M&T Bank during the fourth quarter valued at $29,000. Banque Transatlantique SA bought a new position in shares of M&T Bank in the fourth quarter worth about $38,000. Y.D. More Investments Ltd lifted its position in shares of M&T Bank by 122.6% during the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock valued at $39,000 after buying an additional 114 shares in the last quarter. Human Investing LLC bought a new position in shares of M&T Bank during the 4th quarter valued at approximately $44,000. Finally, Sierra Ocean LLC purchased a new stake in M&T Bank in the 4th quarter worth approximately $44,000. Institutional investors own 84.68% of the company’s stock.

M&T Bank Company Profile

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.