M&T Bank (NYSE:MTB) Receives “Neutral” Rating from DA Davidson

DA Davidson reiterated their neutral rating on shares of M&T Bank (NYSE:MTB) in a research note released on Tuesday, Benzinga reports. The brokerage currently has a $159.00 target price on the financial services provider’s stock. DA Davidson also issued estimates for M&T Bank’s FY2024 earnings at $13.92 EPS and FY2025 earnings at $15.93 EPS.

Other equities research analysts also recently issued reports about the company. UBS Group increased their price objective on M&T Bank from $139.00 to $154.00 in a report on Wednesday, January 17th. Keefe, Bruyette & Woods increased their price objective on M&T Bank from $162.00 to $170.00 and gave the company a market perform rating in a report on Tuesday. Jefferies Financial Group decreased their price objective on M&T Bank from $154.00 to $151.00 and set a hold rating for the company in a report on Monday, April 8th. Wedbush reissued an outperform rating and issued a $170.00 price objective on shares of M&T Bank in a report on Wednesday, April 10th. Finally, Royal Bank of Canada restated an outperform rating and set a $160.00 price target on shares of M&T Bank in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $158.48.

M&T Bank Stock Performance

Shares of MTB opened at $139.30 on Tuesday. The stock has a 50 day moving average price of $139.76 and a 200 day moving average price of $132.81. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $23.21 billion, a price-to-earnings ratio of 9.42, a price-to-earnings-growth ratio of 1.26 and a beta of 0.80. M&T Bank has a 52-week low of $108.53 and a 52-week high of $148.23.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.13 by ($0.11). The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same period in the previous year, the company posted $4.09 earnings per share. Research analysts predict that M&T Bank will post 13.93 EPS for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank’s payout ratio is 35.16%.

Insiders Place Their Bets

In other M&T Bank news, EVP Doris P. Meister sold 1,675 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $137.91, for a total value of $230,999.25. Following the completion of the transaction, the executive vice president now owns 8,961 shares in the company, valued at $1,235,811.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $132.30, for a total value of $132,300.00. Following the completion of the transaction, the executive vice president now owns 7,274 shares in the company, valued at $962,350.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Doris P. Meister sold 1,675 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total value of $230,999.25. Following the completion of the transaction, the executive vice president now owns 8,961 shares of the company’s stock, valued at approximately $1,235,811.51. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,481 shares of company stock worth $5,114,624. 0.82% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Clear Street Markets LLC purchased a new position in shares of M&T Bank in the fourth quarter valued at $25,000. HHM Wealth Advisors LLC purchased a new position in shares of M&T Bank in the fourth quarter valued at $25,000. General Partner Inc. purchased a new position in shares of M&T Bank in the first quarter valued at $27,000. RVW Wealth LLC purchased a new position in shares of M&T Bank in the third quarter valued at $27,000. Finally, Quarry LP purchased a new position in shares of M&T Bank in the first quarter valued at $27,000. Hedge funds and other 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.