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

M&T Bank Co. (NYSE:MTB) has received an average recommendation of “Hold” from the fourteen research firms that are presently covering the stock, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $158.48.

A number of brokerages have issued reports on MTB. Royal Bank of Canada reissued an “outperform” rating and set a $160.00 price objective on shares of M&T Bank in a report on Tuesday. Morgan Stanley lifted their price objective on M&T Bank from $160.00 to $179.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Barclays lifted their price objective on M&T Bank from $150.00 to $170.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. Wells Fargo & Company lifted their price objective on M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, Jefferies Financial Group cut their price objective on M&T Bank from $154.00 to $151.00 and set a “hold” rating for the company in a report on Monday, April 8th.

Insiders Place Their Bets

In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the company’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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Kirk W. Walters sold 28,845 shares of the company’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 sale, the director now owns 6,367 shares in the company, valued at approximately $923,215. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Doris P. Meister sold 1,675 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 8,961 shares in the company, valued at approximately $1,235,811.51. The disclosure for this sale can be found here. Insiders sold a total of 35,481 shares of company stock valued at $5,114,624 in the last quarter. 0.82% of the stock is currently owned by insiders.

Institutional Investors Weigh In On M&T Bank

A number of large investors have recently added to or reduced their stakes in MTB. HHM Wealth Advisors LLC bought a new stake in M&T Bank in the 4th quarter valued at $25,000. Clear Street Markets LLC bought a new stake in M&T Bank in the 4th quarter valued at $25,000. RVW Wealth LLC bought a new stake in M&T Bank in the 3rd quarter valued at $27,000. General Partner Inc. bought a new stake in M&T Bank in the 1st quarter valued at $27,000. Finally, Quarry LP bought a new stake in M&T Bank in the 1st quarter valued at $27,000. Institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Up 0.2 %

Shares of MTB stock opened at $139.30 on Friday. The stock has a market cap of $23.21 billion, a P/E ratio of 9.42, a price-to-earnings-growth ratio of 1.26 and a beta of 0.80. M&T Bank has a one year low of $108.53 and a one year high of $148.23. The stock has a fifty day moving average price of $139.76 and a 200 day moving average price of $132.81. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB) last issued its earnings results on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing the consensus estimate of $3.13 by ($0.11). The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same period last year, the business earned $4.09 earnings per share. Analysts predict that M&T Bank will post 13.93 earnings per share for the current year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date was Friday, March 1st. M&T Bank’s dividend payout ratio (DPR) is currently 35.16%.

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.