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

M&T Bank Co. (NYSE:MTB – Get Rating) has been assigned an average rating of “Hold” from the seventeen analysts that are covering the firm, Marketbeat reports. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $182.18.

MTB has been the topic of several recent research reports. Citigroup boosted their price objective on shares of M&T Bank from $160.00 to $178.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 22nd. DA Davidson initiated coverage on shares of M&T Bank in a research report on Wednesday, December 21st. They issued a “neutral” rating and a $160.00 price objective on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of M&T Bank from $255.00 to $175.00 in a research report on Friday, January 6th. JPMorgan Chase & Co. boosted their target price on shares of M&T Bank from $153.00 to $160.00 and gave the company a “neutral” rating in a research note on Monday, January 23rd. Finally, Wedbush raised shares of M&T Bank from a “neutral” rating to an “outperform” rating and set a $170.00 target price for the company in a research note on Tuesday, January 3rd.

Hedge Funds Weigh In On M&T Bank

Several institutional investors and hedge funds have recently made changes to their positions in the business. AlphaCrest Capital Management LLC acquired a new stake in shares of M&T Bank during the 1st quarter valued at approximately $306,000. Vontobel Holding Ltd. raised its position in shares of M&T Bank by 29.1% during the 1st quarter. Vontobel Holding Ltd. now owns 2,180 shares of the financial services provider’s stock valued at $375,000 after acquiring an additional 491 shares in the last quarter. Aviva PLC raised its position in shares of M&T Bank by 37.7% during the 1st quarter. Aviva PLC now owns 27,430 shares of the financial services provider’s stock valued at $4,649,000 after acquiring an additional 7,503 shares in the last quarter. Prudential PLC acquired a new stake in shares of M&T Bank during the 1st quarter valued at approximately $626,000. Finally, Cetera Investment Advisers raised its position in shares of M&T Bank by 60.8% during the 1st quarter. Cetera Investment Advisers now owns 5,978 shares of the financial services provider’s stock valued at $1,013,000 after acquiring an additional 2,260 shares in the last quarter. 84.10% of the stock is currently owned by hedge funds and other institutional investors.

M&T Bank Trading Down 2.0 %

NYSE:MTB opened at $124.89 on Thursday. M&T Bank has a 1 year low of $120.40 and a 1 year high of $193.42. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a fifty day moving average price of $151.50 and a two-hundred day moving average price of $162.60. The stock has a market capitalization of $20.99 billion, a price-to-earnings ratio of 10.84, a PEG ratio of 0.66 and a beta of 0.82.

M&T Bank (NYSE:MTB – Get Rating) last issued its earnings results on Thursday, January 19th. The financial services provider reported $4.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.47 by $0.10. M&T Bank had a net margin of 23.15% and a return on equity of 11.41%. The company had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.37 billion. During the same period last year, the company posted $3.37 earnings per share. As a group, sell-side analysts anticipate that M&T Bank will post 18.09 earnings per share for the current fiscal year.

M&T Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Monday, March 6th will be paid a dividend of $1.30 per share. This is a boost from M&T Bank’s previous quarterly dividend of $1.20. This represents a $5.20 annualized dividend and a dividend yield of 4.16%. The ex-dividend date is Friday, March 3rd. M&T Bank’s dividend payout ratio is 45.14%.

M&T Bank Company Profile

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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.