M&T Bank Co. (NYSE:MTB) Receives Average Rating of “Hold” from Analysts

M&T Bank Co. (NYSE:MTB) has been given a consensus rating of “Hold” by the sixteen research firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $215.50.

Several research analysts recently commented on MTB shares. Wolfe Research upgraded shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a report on Friday, October 4th. DA Davidson boosted their price objective on M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $223.50 target price (up previously from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. Keefe, Bruyette & Woods upped their price target on M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Evercore ISI increased their price objective on M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th.

M&T Bank Stock Down 0.9 %

Shares of MTB stock opened at $189.23 on Wednesday. The stock’s 50 day simple moving average is $204.09 and its 200 day simple moving average is $179.25. M&T Bank has a twelve month low of $128.31 and a twelve month high of $225.70. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market capitalization of $31.40 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 2.83 and a beta of 0.76.

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

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Monday, December 2nd. M&T Bank’s dividend payout ratio (DPR) is presently 39.97%.

Insiders Place Their Bets

In other news, Director John P. Barnes sold 20,000 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $193.97, for a total value of $3,879,400.00. Following the completion of the transaction, the director now directly owns 49,960 shares of the company’s stock, valued at approximately $9,690,741.20. This represents a 28.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Tracy S. Woodrow sold 2,121 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total value of $468,210.75. Following the completion of the sale, the executive vice president now directly owns 5,141 shares in the company, valued at approximately $1,134,875.75. This represents a 29.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 84,994 shares of company stock worth $17,211,278 over the last quarter. Company insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

Several large investors have recently made changes to their positions in MTB. Capital Performance Advisors LLP bought a new stake in M&T Bank during the 3rd quarter worth approximately $44,000. Principal Financial Group Inc. boosted 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 worth $35,466,000 after purchasing an additional 2,797 shares in the last quarter. Smead Capital Management Inc. grew its holdings in shares of M&T Bank by 3.5% during the third quarter. Smead Capital Management Inc. now owns 493,817 shares of the financial services provider’s stock worth $87,959,000 after purchasing an additional 16,657 shares during the last quarter. National Pension Service increased its stake in shares of M&T Bank by 5.2% in the third quarter. National Pension Service now owns 268,138 shares of the financial services provider’s stock valued at $47,761,000 after buying 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% in the third quarter. Nomura Asset Management Co. Ltd. now owns 50,275 shares of the financial services provider’s stock valued at $8,955,000 after buying an additional 2,883 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

M&T Bank Company Profile

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.