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

M&T Bank Co. (NYSE:MTB) has been given a consensus rating of “Hold” by the seventeen analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $221.68.

Several research analysts have commented on the stock. Bank of America lifted their price target on shares of M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Barclays boosted their price target on shares of M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. The Goldman Sachs Group raised their price objective on M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. DA Davidson boosted their target price on M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Finally, Wells Fargo & Company raised their price target on M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a research report on Friday, November 15th.

Insider Activity at M&T Bank

In other news, EVP Tracy S. Woodrow sold 2,121 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total transaction of $468,210.75. Following the sale, the executive vice president now owns 5,141 shares in the company, valued at approximately $1,134,875.75. The trade was a 29.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John R. Taylor sold 1,436 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $195.03, for a total transaction of $280,063.08. Following the completion of the sale, the executive vice president now directly owns 5,618 shares in the company, valued at $1,095,678.54. This represents a 20.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 64,994 shares of company stock worth $13,331,878 over the last ninety days. 0.82% of the stock is owned by corporate insiders.

Institutional Trading of M&T Bank

Several hedge funds and other institutional investors have recently made changes to their positions in MTB. American Century Companies Inc. grew its stake in shares of M&T Bank by 7.0% in the second quarter. American Century Companies Inc. now owns 61,818 shares of the financial services provider’s stock worth $9,357,000 after acquiring an additional 4,067 shares during the last quarter. Envestnet Asset Management Inc. grew its position in M&T Bank by 5.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 241,213 shares of the financial services provider’s stock valued at $36,510,000 after purchasing an additional 13,278 shares during the last quarter. Mutual of America Capital Management LLC increased its stake in M&T Bank by 1.5% during the 2nd quarter. Mutual of America Capital Management LLC now owns 38,303 shares of the financial services provider’s stock valued at $5,798,000 after purchasing an additional 551 shares in the last quarter. Argent Trust Co lifted its stake in shares of M&T Bank by 9.3% in the second quarter. Argent Trust Co now owns 1,506 shares of the financial services provider’s stock worth $228,000 after buying an additional 128 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its holdings in shares of M&T Bank by 28.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 7,960 shares of the financial services provider’s stock valued at $1,196,000 after buying an additional 1,743 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Up 0.9 %

Shares of NYSE:MTB opened at $198.81 on Friday. The firm has a market capitalization of $32.99 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 1.37 and a beta of 0.79. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.93. M&T Bank has a 52-week low of $128.31 and a 52-week high of $225.70. The firm has a fifty day moving average of $200.79 and a 200 day moving average of $185.16.

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 (EPS) for the quarter, topping 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 earnings per share. As a group, research analysts anticipate that M&T Bank will post 16.56 EPS for the current fiscal year.

M&T Bank declared that its board has approved a share buyback plan on Wednesday, January 22nd that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 12.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.72%. M&T Bank’s dividend payout ratio (DPR) is 36.91%.

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.