M&T Bank (NYSE:MTB) Stock Rating Reaffirmed by Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of M&T Bank (NYSE:MTB) in a research note published on Tuesday, Benzinga reports. The brokerage currently has a $160.00 price objective on the financial services provider’s stock.

Several other research firms have also recently weighed in on MTB. Wedbush reissued an outperform rating and issued a $170.00 price objective on shares of M&T Bank in a research report on Wednesday, April 10th. Piper Sandler decreased their price target on shares of M&T Bank from $156.00 to $152.00 and set an overweight rating on the stock in a research report on Friday, January 19th. UBS Group boosted their price objective on shares of M&T Bank from $139.00 to $154.00 in a report on Wednesday, January 17th. Evercore ISI increased their target price on shares of M&T Bank from $146.00 to $157.00 and gave the company an in-line rating in a research note on Thursday, March 28th. Finally, StockNews.com lowered M&T Bank from a hold rating to a sell rating in a research note on Wednesday, December 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, M&T Bank currently has an average rating of Hold and a consensus target price of $157.98.

M&T Bank Stock Performance

Shares of MTB opened at $137.37 on Tuesday. The company has a market capitalization of $22.89 billion, a PE ratio of 8.71, a price-to-earnings-growth ratio of 1.24 and a beta of 0.80. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.99 and a quick ratio of 0.99. M&T Bank has a one year low of $108.53 and a one year high of $148.23. The company’s fifty day moving average price is $139.44 and its 200 day moving average price is $132.72.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). M&T Bank had a return on equity of 11.59% and a net margin of 21.49%. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the previous year, the firm posted $4.09 earnings per share. As a group, analysts expect that M&T Bank will post 13.89 earnings per share for the current year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were given a dividend of $1.30 per share. The ex-dividend date was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a yield of 3.79%. M&T Bank’s dividend payout ratio (DPR) is presently 32.95%.

Insiders Place Their Bets

In other news, EVP Doris P. Meister sold 1,675 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $137.91, for a total value of $230,999.25. Following the completion of the sale, the executive vice president now directly owns 8,961 shares in the company, valued at $1,235,811.51. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Doris P. Meister sold 1,675 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total transaction of $230,999.25. Following the sale, the executive vice president now directly owns 8,961 shares of the company’s stock, valued at $1,235,811.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kirk W. Walters sold 28,845 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the transaction, the director now owns 6,367 shares of the company’s stock, valued at approximately $923,215. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,481 shares of company stock valued at $5,114,624. 0.82% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MTB. Virtu Financial LLC lifted its holdings in M&T Bank by 17,405.3% in the first quarter. Virtu Financial LLC now owns 5,273,474 shares of the financial services provider’s stock valued at $105,417,000 after buying an additional 5,243,349 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of M&T Bank by 113.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 313,302 shares of the financial services provider’s stock worth $42,949,000 after purchasing an additional 2,645,478 shares during the last quarter. Spring Creek Capital LLC grew its stake in shares of M&T Bank by 217.0% during the first quarter. Spring Creek Capital LLC now owns 3,339,643 shares of the financial services provider’s stock worth $66,759,000 after purchasing an additional 2,286,251 shares during the period. Norges Bank acquired a new position in M&T Bank in the fourth quarter valued at about $232,322,000. Finally, Goldman Sachs Group Inc. lifted its stake in M&T Bank by 76.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,560,334 shares of the financial services provider’s stock valued at $71,171,000 after buying an additional 1,538,436 shares during the period. Institutional investors own 84.68% of the company’s stock.

M&T Bank Company Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.