M&T Bank Corporation (NYSE:MTB) Given Average Rating of “Moderate Buy” by Analysts

M&T Bank Corporation (NYSE:MTB) has been given an average rating of “Moderate Buy” by the eighteen brokerages that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, five have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $213.6563.

Several equities analysts have issued reports on MTB shares. Piper Sandler began coverage on M&T Bank in a research note on Monday, October 6th. They issued an “overweight” rating and a $225.00 price target on the stock. Wall Street Zen upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Evercore ISI raised their price target on shares of M&T Bank from $222.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Jefferies Financial Group upped their price objective on shares of M&T Bank from $215.00 to $235.00 and gave the company a “buy” rating in a report on Monday, December 1st. Finally, Truist Financial reduced their target price on M&T Bank from $227.00 to $217.00 and set a “buy” rating for the company in a research note on Friday, October 17th.

Insiders Place Their Bets

In related news, Director Robert E. Sadler, Jr. sold 6,000 shares of M&T Bank stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $190.06, for a total value of $1,140,360.00. Following the completion of the sale, the director owned 17,070 shares of the company’s stock, valued at approximately $3,244,324.20. This trade represents a 26.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Christopher E. Kay sold 5,250 shares of the business’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $191.70, for a total transaction of $1,006,425.00. Following the sale, the executive vice president owned 5,501 shares of the company’s stock, valued at $1,054,541.70. This trade represents a 48.83% decrease in their position. The SEC filing for this sale provides additional information. 0.53% of the stock is owned by company insiders.

Institutional Investors Weigh In On M&T Bank

Institutional investors and hedge funds have recently made changes to their positions in the business. Commerzbank Aktiengesellschaft FI raised its stake in shares of M&T Bank by 27.3% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 8,111 shares of the financial services provider’s stock worth $1,574,000 after purchasing an additional 1,741 shares during the period. Raymond James Financial Inc. raised its position in M&T Bank by 1.8% in the first quarter. Raymond James Financial Inc. now owns 117,972 shares of the financial services provider’s stock worth $21,088,000 after acquiring an additional 2,111 shares during the period. Ethic Inc. boosted its stake in M&T Bank by 20.8% in the second quarter. Ethic Inc. now owns 25,741 shares of the financial services provider’s stock valued at $4,988,000 after acquiring an additional 4,432 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of M&T Bank by 3.1% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 463,669 shares of the financial services provider’s stock worth $89,947,000 after purchasing an additional 13,749 shares during the last quarter. Finally, Applied Finance Capital Management LLC bought a new stake in shares of M&T Bank in the 2nd quarter worth approximately $798,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Price Performance

MTB stock opened at $197.53 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.49. The firm has a market cap of $30.36 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 0.93 and a beta of 0.61. The company’s fifty day simple moving average is $186.81 and its 200 day simple moving average is $190.82. M&T Bank has a 12-month low of $150.75 and a 12-month high of $210.66.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share for the quarter. M&T Bank had a return on equity of 10.62% and a net margin of 20.91%.The firm had revenue of $1.54 billion during the quarter. On average, analysts expect that M&T Bank will post 16.57 earnings per share for the current year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st will be issued a dividend of $1.50 per share. The ex-dividend date is Monday, December 1st. This represents a $6.00 annualized dividend and a dividend yield of 3.0%. M&T Bank’s payout ratio is currently 36.95%.

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.