M&T Bank Corporation (NYSE:MTB) Receives $232.87 Consensus Price Target from Brokerages

Shares of M&T Bank Corporation (NYSE:MTB) have been given an average rating of “Hold” by the twenty-one brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $232.8684.

Several brokerages have commented on MTB. Wolfe Research cut shares of M&T Bank from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 7th. Evercore cut M&T Bank from an “outperform” rating to a “hold” rating and lifted their price objective for the stock from $210.00 to $225.00 in a research note on Tuesday, January 6th. Robert W. Baird upped their price objective on M&T Bank from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, December 18th. Wall Street Zen lowered M&T Bank from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, UBS Group boosted their target price on M&T Bank from $217.00 to $230.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th.

M&T Bank Stock Up 1.0%

Shares of NYSE MTB opened at $198.14 on Friday. The firm has a market capitalization of $29.52 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 0.87 and a beta of 0.58. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.41. M&T Bank has a 1 year low of $150.75 and a 1 year high of $239.00. The firm’s 50-day moving average is $217.76 and its 200-day moving average is $202.49.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.72 earnings per share for the quarter, topping analysts’ consensus estimates of $4.47 by $0.25. M&T Bank had a net margin of 21.55% and a return on equity of 10.94%. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the previous year, the firm posted $3.77 earnings per share. Equities analysts expect 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 3.0%. M&T Bank’s payout ratio is currently 35.19%.

Insider Activity

In other news, Director John P. Barnes sold 21,193 shares of the business’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $235.85, for a total value of $4,998,369.05. Following the completion of the transaction, the director owned 15,142 shares of the company’s stock, valued at $3,571,240.70. The trade was a 58.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $206,679.33. Following the sale, the director directly owned 5,976 shares in the company, valued at $1,358,763.12. The trade was a 13.20% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 49,092 shares of company stock valued at $11,182,250. 0.44% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC grew its position in shares of M&T Bank by 11.9% in the 1st quarter. Empowered Funds LLC now owns 3,396 shares of the financial services provider’s stock valued at $607,000 after purchasing an additional 362 shares during the period. Woodline Partners LP lifted its stake in M&T Bank by 40.7% in the first quarter. Woodline Partners LP now owns 14,018 shares of the financial services provider’s stock valued at $2,506,000 after buying an additional 4,054 shares in the last quarter. DNB Asset Management AS boosted its holdings in shares of M&T Bank by 1.0% in the second quarter. DNB Asset Management AS now owns 111,342 shares of the financial services provider’s stock valued at $21,599,000 after buying an additional 1,066 shares during the period. Mufg Securities Americas Inc. increased its position in shares of M&T Bank by 17.5% during the second quarter. Mufg Securities Americas Inc. now owns 3,849 shares of the financial services provider’s stock worth $747,000 after acquiring an additional 573 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in shares of M&T Bank during the second quarter worth $36,000. 84.68% of the stock is owned by institutional investors and hedge funds.

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.