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

Shares of M&T Bank Co. (NYSE:MTB) have received an average rating of “Hold” from the fifteen research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $173.85.

Several research analysts recently issued reports on MTB shares. Royal Bank of Canada increased their price target on shares of M&T Bank from $160.00 to $174.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Wells Fargo & Company downgraded shares of M&T Bank from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $170.00 to $165.00 in a research report on Thursday, August 15th. JPMorgan Chase & Co. increased their price objective on shares of M&T Bank from $180.00 to $183.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Bank of America increased their price objective on shares of M&T Bank from $160.00 to $188.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, July 19th.

M&T Bank Stock Performance

Shares of MTB opened at $162.91 on Thursday. M&T Bank has a one year low of $108.53 and a one year high of $176.44. The firm has a market capitalization of $27.18 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of 3.34 and a beta of 0.77. The company has a 50-day simple moving average of $157.95 and a two-hundred day simple moving average of $148.32. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.94 and a quick ratio of 1.00.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, beating the consensus estimate of $3.50 by $0.23. The business had revenue of $3.37 billion during the quarter, compared to analyst estimates of $2.27 billion. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. During the same quarter last year, the firm posted $5.12 earnings per share. On average, analysts anticipate that M&T Bank will post 14.24 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date is Tuesday, September 3rd. M&T Bank’s dividend payout ratio is currently 36.51%.

Insider Activity at M&T Bank

In related news, Director Kirk W. Walters sold 7,464 shares of M&T Bank stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $173.97, for a total value of $1,298,512.08. Following the completion of the sale, the director now directly owns 15,045 shares in the company, valued at $2,617,378.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other M&T Bank news, Director Kirk W. Walters sold 7,464 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $173.97, for a total value of $1,298,512.08. Following the completion of the transaction, the director now directly owns 15,045 shares in the company, valued at $2,617,378.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Gary N. Geisel sold 500 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total transaction of $86,250.00. Following the completion of the transaction, the insider now owns 16,429 shares of the company’s stock, valued at $2,834,002.50. The disclosure for this sale can be found here. Insiders sold 22,699 shares of company stock worth $3,395,049 over the last three months. 0.82% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On M&T Bank

Several hedge funds have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its holdings in shares of M&T Bank by 4.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock valued at $269,696,000 after acquiring an additional 81,004 shares in the last quarter. Norges Bank acquired a new position in shares of M&T Bank during the fourth quarter valued at about $232,322,000. Dimensional Fund Advisors LP increased its holdings in shares of M&T Bank by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock valued at $244,129,000 after acquiring an additional 93,113 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of M&T Bank by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 1,513,452 shares of the financial services provider’s stock valued at $229,076,000 after acquiring an additional 44,442 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of M&T Bank by 3.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,398,199 shares of the financial services provider’s stock valued at $211,631,000 after acquiring an additional 43,795 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

About M&T Bank

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.