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

Shares of M&T Bank Co. (NYSE:MTB) have been given a consensus recommendation of “Hold” by the fourteen analysts that are presently covering the firm, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $159.79.

MTB has been the subject of several recent research reports. Bank of America boosted their target price on shares of M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Royal Bank of Canada reissued an “outperform” rating and set a $160.00 price objective on shares of M&T Bank in a research report on Tuesday, April 16th. Evercore ISI raised their target price on M&T Bank from $146.00 to $157.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. Piper Sandler boosted their price target on M&T Bank from $152.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $159.00 price objective on shares of M&T Bank in a research note on Tuesday, April 16th.

M&T Bank Stock Performance

MTB stock opened at $142.18 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.00 and a quick ratio of 1.00. M&T Bank has a 1 year low of $108.53 and a 1 year high of $156.65. The company has a market cap of $23.72 billion, a P/E ratio of 9.61, a price-to-earnings-growth ratio of 2.81 and a beta of 0.78. The stock’s fifty day moving average price is $146.49 and its 200-day moving average price is $140.77.

M&T Bank (NYSE:MTB) last announced its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) 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 analysts’ expectations of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same period in the previous year, the business posted $4.09 earnings per share. On average, equities analysts forecast that M&T Bank will post 14.04 earnings per share for the current year.

M&T Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.80%. This is an increase from M&T Bank’s previous quarterly dividend of $1.30. The ex-dividend date is Monday, June 3rd. M&T Bank’s dividend payout ratio is presently 36.51%.

Insider Buying and Selling at M&T Bank

In related news, EVP Doris P. Meister sold 1,638 shares of the company’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $138.21, for a total transaction of $226,387.98. Following the completion of the transaction, the executive vice president now owns 3,362 shares in the company, valued at $464,662.02. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Doris P. Meister sold 1,638 shares of M&T Bank stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total value of $226,387.98. Following the sale, the executive vice president now directly owns 3,362 shares of the company’s stock, valued at $464,662.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John P. Barnes sold 43,426 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $154.50, for a total value of $6,709,317.00. Following the completion of the sale, the director now owns 35,480 shares in the company, valued at $5,481,660. The disclosure for this sale can be found here. Insiders sold a total of 97,553 shares of company stock valued at $14,724,147 in the last three months. 0.82% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Atria Wealth Solutions Inc. increased its holdings in shares of M&T Bank by 13.3% in the 3rd quarter. Atria Wealth Solutions Inc. now owns 11,528 shares of the financial services provider’s stock worth $1,458,000 after buying an additional 1,353 shares during the last quarter. Pathstone Family Office LLC increased its stake in M&T Bank by 273.5% during the third quarter. Pathstone Family Office LLC now owns 11,916 shares of the financial services provider’s stock worth $1,507,000 after acquiring an additional 8,726 shares during the last quarter. HighTower Advisors LLC raised its position in M&T Bank by 6.3% during the third quarter. HighTower Advisors LLC now owns 60,820 shares of the financial services provider’s stock valued at $7,694,000 after purchasing an additional 3,595 shares during the period. Aptus Capital Advisors LLC bought a new stake in shares of M&T Bank in the 3rd quarter valued at approximately $208,000. Finally, Artisan Partners Limited Partnership boosted its holdings in shares of M&T Bank by 1.3% in the 3rd quarter. Artisan Partners Limited Partnership now owns 511,786 shares of the financial services provider’s stock worth $64,715,000 after purchasing an additional 6,599 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

About M&T Bank

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.