M&T Bank Corporation (NYSE:MTB) Receives Average Recommendation of “Hold” from Analysts

Shares of M&T Bank Corporation (NYSE:MTB) have been assigned a consensus rating of “Hold” from the twenty-one brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $228.50.

Several research analysts have recently issued reports on MTB shares. Wolfe Research lowered shares of M&T Bank from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. TD Cowen restated a “buy” rating on shares of M&T Bank in a report on Wednesday, January 7th. Piper Sandler lifted their target price on shares of M&T Bank from $225.00 to $235.00 in a report on Friday, January 16th. Truist Financial set a $230.00 target price on shares of M&T Bank in a research report on Tuesday, January 20th. Finally, The Goldman Sachs Group increased their target price on M&T Bank from $230.00 to $231.00 and gave the company a “neutral” rating in a research note on Tuesday, January 20th.

M&T Bank Stock Performance

MTB stock opened at $232.65 on Monday. The company has a 50 day moving average price of $216.54 and a 200 day moving average price of $200.41. The stock has a market capitalization of $34.66 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 1.02 and a beta of 0.60. M&T Bank has a fifty-two week low of $150.75 and a fifty-two week high of $239.00. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.96 and a quick ratio of 0.96.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.47 by $0.25. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $2.47 billion. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.During the same quarter in the prior year, the firm posted $3.77 earnings per share. Analysts forecast that M&T Bank will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 2nd will be issued a dividend of $1.50 per share. The ex-dividend date is Monday, March 2nd. This represents a $6.00 dividend on an annualized basis and a yield of 2.6%. M&T Bank’s payout ratio is currently 35.19%.

Insider Buying and Selling

In related news, Director Kirk W. Walters sold 909 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $227.37, for a total transaction of $206,679.33. Following the sale, the director owned 5,976 shares of the company’s stock, valued at approximately $1,358,763.12. This trade represents a 13.20% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Vice Chairman Gary N. Geisel sold 887 shares of the business’s stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $215.79, for a total value of $191,405.73. Following the completion of the transaction, the insider directly owned 16,446 shares of the company’s stock, valued at approximately $3,548,882.34. The trade was a 5.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 52,105 shares of company stock valued at $11,488,231. 0.53% of the stock is owned by company insiders.

Hedge Funds Weigh In On M&T Bank

Several institutional investors have recently modified their holdings of the business. Golden State Wealth Management LLC grew its position in shares of M&T Bank by 2,214.3% in the 2nd quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 155 shares during the period. Bank of Jackson Hole Trust lifted its stake in M&T Bank by 342.9% in the third quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock valued at $31,000 after buying an additional 120 shares in the last quarter. Triumph Capital Management acquired a new position in shares of M&T Bank in the third quarter valued at approximately $32,000. Elyxium Wealth LLC bought a new stake in shares of M&T Bank during the fourth quarter worth $33,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in shares of M&T Bank during the second quarter worth $36,000. Institutional investors own 84.68% of the company’s stock.

About M&T Bank

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.