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

Shares of M&T Bank Co. (NYSE:MTB) have been given an average rating of “Hold” by the seventeen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $221.68.

Several equities research analysts have commented on the company. Compass Point upped their price target on M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Evercore ISI increased their target price on shares of M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Citigroup cut shares of M&T Bank from a “buy” rating to a “neutral” rating and lifted their price target for the company from $220.00 to $230.00 in a research report on Monday, November 25th. Wells Fargo & Company increased their price objective on shares of M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a research report on Friday, November 15th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

M&T Bank Trading Down 0.6 %

NYSE MTB opened at $199.37 on Thursday. The company has a 50-day moving average of $195.25 and a 200-day moving average of $189.58. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.99. M&T Bank has a 12 month low of $133.03 and a 12 month high of $225.70. The company has a market cap of $33.08 billion, a P/E ratio of 13.63, a P/E/G ratio of 1.39 and a beta of 0.79.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same period last year, the firm posted $2.74 EPS. As a group, equities analysts predict that M&T Bank will post 16.57 earnings per share for the current year.

M&T Bank announced that its Board of Directors has initiated a stock buyback plan on Wednesday, January 22nd that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 12.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.71%. M&T Bank’s dividend payout ratio (DPR) is 36.91%.

Insiders Place Their Bets

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 2,490 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total transaction of $537,566.10. Following the sale, the insider now directly owns 16,429 shares of the company’s stock, valued at approximately $3,546,856.81. This represents a 13.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Tracy S. Woodrow sold 2,121 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total transaction of $468,210.75. Following the completion of the transaction, the executive vice president now owns 5,141 shares in the company, valued at approximately $1,134,875.75. The trade was a 29.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On M&T Bank

Several institutional investors and hedge funds have recently bought and sold shares of MTB. Vise Technologies Inc. raised its position in shares of M&T Bank by 58.8% during the 4th quarter. Vise Technologies Inc. now owns 2,638 shares of the financial services provider’s stock worth $496,000 after purchasing an additional 977 shares during the period. Connecticut Wealth Management LLC increased its position in M&T Bank by 2.4% in the fourth quarter. Connecticut Wealth Management LLC now owns 7,872 shares of the financial services provider’s stock worth $1,480,000 after buying an additional 185 shares during the period. Gordian Capital Singapore Pte Ltd bought a new stake in M&T Bank in the fourth quarter valued at $840,000. Pinkerton Retirement Specialists LLC acquired a new position in shares of M&T Bank during the fourth quarter valued at $783,000. Finally, Focus Partners Advisor Solutions LLC boosted its holdings in shares of M&T Bank by 81.3% during the fourth quarter. Focus Partners Advisor Solutions LLC now owns 6,774 shares of the financial services provider’s stock valued at $1,274,000 after acquiring an additional 3,037 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Company Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management and investment services. It operates through the following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.