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

M&T Bank Co. (NYSE:MTB) has received a consensus rating of “Hold” from the seventeen ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $222.03.

Several equities research analysts have recently weighed in on MTB shares. Evercore ISI decreased their price target on M&T Bank from $234.00 to $205.00 and set an “outperform” rating on the stock in a research report on Thursday. Morgan Stanley lowered their price target on shares of M&T Bank from $269.00 to $253.00 and set an “overweight” rating on the stock in a report on Thursday. Truist Financial reissued a “buy” rating and issued a $236.00 price target (up from $233.00) on shares of M&T Bank in a report on Friday, January 17th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $223.50 price target (up from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. Finally, Piper Sandler increased their price target on shares of M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th.

M&T Bank Trading Up 3.1 %

Shares of M&T Bank stock opened at $175.69 on Monday. M&T Bank has a 52-week low of $133.03 and a 52-week high of $225.70. The stock’s 50-day simple moving average is $192.44 and its 200 day simple moving average is $192.15. The stock has a market capitalization of $28.86 billion, a P/E ratio of 12.01, a P/E/G ratio of 1.38 and a beta of 0.74. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. As a group, research analysts anticipate that M&T Bank will post 16.57 EPS for the current year.

M&T Bank Announces Dividend

The firm 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. This represents a $5.40 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Monday, March 3rd. M&T Bank’s dividend payout ratio (DPR) is presently 36.91%.

M&T Bank declared that its board has approved a stock repurchase program on Wednesday, January 22nd that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 12.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, EVP Christopher E. Kay sold 1,738 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value of $299,526.92. Following the transaction, the executive vice president now owns 10,751 shares in the company, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Wood Tarver Financial Group LLC bought a new position in shares of M&T Bank in the fourth quarter worth approximately $29,000. Plato Investment Management Ltd grew its holdings in shares of M&T Bank by 2,300.0% in the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 161 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of M&T Bank in the third quarter worth approximately $32,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of M&T Bank by 329.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 158 shares during the last quarter. Finally, Banque Transatlantique SA bought a new position in shares of M&T Bank in the fourth quarter worth approximately $38,000. Institutional investors own 84.68% of the company’s stock.

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.