M&T Bank Co. (NYSE:MTB) Receives $215.50 Consensus Target Price from Analysts

Shares of M&T Bank Co. (NYSE:MTB) have earned an average rating of “Hold” from the sixteen research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $215.50.

Several brokerages recently weighed in on MTB. Evercore ISI raised their target price on M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods lifted their price objective on shares of M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Citigroup downgraded M&T Bank from a “buy” rating to a “neutral” rating and increased their price objective for the company from $220.00 to $230.00 in a research report on Monday, November 25th. JPMorgan Chase & Co. restated a “neutral” rating and set a $223.50 price objective (up previously from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. Finally, Royal Bank of Canada raised their target price on shares of M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a report on Friday, October 18th.

M&T Bank Trading Down 0.9 %

NYSE:MTB opened at $189.23 on Wednesday. The firm has a market capitalization of $31.40 billion, a P/E ratio of 14.01, a P/E/G ratio of 2.83 and a beta of 0.76. The business has a 50 day simple moving average of $204.09 and a 200 day simple moving average of $178.74. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99. M&T Bank has a 12-month low of $128.31 and a 12-month high of $225.70.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, beating the consensus estimate of $3.60 by $0.48. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. The firm had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Equities research analysts predict that M&T Bank will post 14.63 EPS for the current year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Monday, December 2nd. M&T Bank’s dividend payout ratio is 39.97%.

Insider Transactions at M&T Bank

In other M&T Bank news, Vice Chairman Kevin J. Pearson sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $195.88, for a total value of $1,469,100.00. Following the completion of the transaction, the insider now owns 40,502 shares of the company’s stock, valued at $7,933,531.76. This represents a 15.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total transaction of $537,566.10. Following the transaction, the insider now directly owns 16,429 shares of the company’s stock, valued at $3,546,856.81. The trade was a 13.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 84,994 shares of company stock worth $17,211,278. Company insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

Several hedge funds have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of M&T Bank in the 3rd quarter valued at $44,000. Principal Financial Group Inc. lifted its stake in M&T Bank by 1.4% in the third quarter. Principal Financial Group Inc. now owns 199,111 shares of the financial services provider’s stock valued at $35,466,000 after buying an additional 2,797 shares in the last quarter. Smead Capital Management Inc. boosted its holdings in shares of M&T Bank by 3.5% in the third quarter. Smead Capital Management Inc. now owns 493,817 shares of the financial services provider’s stock valued at $87,959,000 after buying an additional 16,657 shares during the period. National Pension Service increased its position in shares of M&T Bank by 5.2% during the third quarter. National Pension Service now owns 268,138 shares of the financial services provider’s stock worth $47,761,000 after acquiring an additional 13,302 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of M&T Bank by 6.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 50,275 shares of the financial services provider’s stock worth $8,955,000 after acquiring an additional 2,883 shares during the period. Institutional investors 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.