M&T Bank Co. (NYSE:MTB) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

M&T Bank Co. (NYSE:MTB) has earned an average rating of “Moderate Buy” from the twenty-one research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $212.53.

MTB has been the topic of several recent research reports. Barclays decreased their price objective on M&T Bank from $235.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 15th. Robert W. Baird decreased their price objective on M&T Bank from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Truist Financial decreased their price objective on M&T Bank from $225.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Piper Sandler decreased their price objective on M&T Bank from $220.00 to $210.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. Finally, Evercore ISI decreased their price objective on M&T Bank from $234.00 to $205.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th.

Insider Transactions at M&T Bank

In other news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the completion of the transaction, the executive vice president now owns 10,751 shares in the company, valued at approximately $1,852,827.34. The trade was a 13.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

Institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC increased its stake in M&T Bank by 11.9% in the third quarter. Barclays PLC now owns 578,266 shares of the financial services provider’s stock worth $102,999,000 after purchasing an additional 61,375 shares during the period. Merit Financial Group LLC increased its stake in M&T Bank by 46.0% in the fourth quarter. Merit Financial Group LLC now owns 1,889 shares of the financial services provider’s stock worth $355,000 after purchasing an additional 595 shares during the period. Ballentine Partners LLC increased its stake in M&T Bank by 23.0% in the fourth quarter. Ballentine Partners LLC now owns 2,130 shares of the financial services provider’s stock worth $400,000 after purchasing an additional 398 shares during the period. Atomi Financial Group Inc. increased its stake in M&T Bank by 52.6% in the fourth quarter. Atomi Financial Group Inc. now owns 2,158 shares of the financial services provider’s stock worth $406,000 after purchasing an additional 744 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in M&T Bank by 5.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 70,741 shares of the financial services provider’s stock worth $13,300,000 after purchasing an additional 3,404 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Down 0.5%

MTB stock opened at $179.64 on Friday. M&T Bank has a fifty-two week low of $139.78 and a fifty-two week high of $225.70. The business’s 50-day moving average is $172.12 and its two-hundred day moving average is $188.95. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. The company has a market cap of $28.83 billion, a price-to-earnings ratio of 12.28, a P/E/G ratio of 1.38 and a beta of 0.58.

M&T Bank (NYSE:MTB) last posted its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.03). M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the prior year, the company posted $3.09 EPS. As a group, analysts forecast that M&T Bank will post 16.57 earnings per share for the current year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Monday, June 2nd. M&T Bank’s dividend payout ratio (DPR) is 36.17%.

About M&T Bank

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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.