M&T Bank Corporation (NYSE:MTB) Stock Rated “Hold” by Wall Street Analysts

M&T Bank Corporation (NYSE:MTB) has earned a consensus rating of “Hold” from the twenty-three ratings firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $244.89.

A number of research firms have issued reports on MTB. Evercore set a $230.00 price objective on shares of M&T Bank in a research report on Thursday, October 1st. Morgan Stanley dropped their price target on M&T Bank from $301.00 to $294.00 and set an “overweight” rating on the stock in a research note on Monday, October 19th. UBS Group reduced their target price on M&T Bank from $255.00 to $238.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. JPMorgan Chase & Co. cut their price target on shares of M&T Bank from $265.50 to $248.50 and set a “neutral” rating for the company in a report on Friday, October 2nd. Finally, Cantor Fitzgerald lowered their price target on shares of M&T Bank from $285.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, October 14th.

M&T Bank Price Performance

Shares of NYSE MTB opened at $218.16 on Friday. The stock has a market cap of $31.51 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 1.30 and a beta of 0.64. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.54. The company’s 50-day moving average price is $224.35 and its 200 day moving average price is $225.29. M&T Bank has a 52 week low of $179.75 and a 52 week high of $255.95.

M&T Bank (NYSE:MTB) last released its earnings results on Friday, October 16th. The financial services provider reported $5.08 EPS for the quarter, topping analysts’ consensus estimates of $4.93 by $0.15. The business had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.53 billion. M&T Bank had a net margin of 22.63% and a return on equity of 11.86%. During the same period in the previous year, the firm earned $4.82 EPS. As a group, research analysts forecast that M&T Bank will post 19.48 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st were given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Tuesday, September 1st. M&T Bank’s dividend payout ratio (DPR) is presently 31.32%.

Insider Transactions at M&T Bank

In other news, CEO Rene F. Jones sold 19,396 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $239.35, for a total transaction of $4,642,432.60. Following the completion of the transaction, the chief executive officer directly owned 103,831 shares of the company’s stock, valued at $24,851,949.85. This trade represents a 15.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rudina Seseri sold 623 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $241.04, for a total value of $150,167.92. Following the sale, the director directly owned 3,649 shares in the company, valued at $879,554.96. This trade represents a 14.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.44% of the stock is owned by company insiders.

Hedge Funds Weigh In On M&T Bank

Several institutional investors and hedge funds have recently bought and sold shares of the company. Aberdeen Group plc grew its stake in shares of M&T Bank by 332.1% in the third quarter. Aberdeen Group plc now owns 523,220 shares of the financial services provider’s stock worth $113,853,000 after acquiring an additional 402,126 shares during the period. Citizens & Northern Corp grew its stake in shares of M&T Bank by 65.5% during the 3rd quarter. Citizens & Northern Corp now owns 6,028 shares of the financial services provider’s stock worth $1,312,000 after purchasing an additional 2,386 shares during the period. Allworth Financial LP boosted its stake in shares of M&T Bank by 1.6% in the third quarter. Allworth Financial LP now owns 25,087 shares of the financial services provider’s stock valued at $5,971,000 after purchasing an additional 388 shares during the period. Eurizon Capital SGR S.p.A. grew its position in M&T Bank by 3.3% in the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 17,225 shares of the financial services provider’s stock valued at $3,748,000 after buying an additional 544 shares in the last quarter. Finally, Maryland State Retirement & Pension System increased its holdings in M&T Bank by 16.7% in the third quarter. Maryland State Retirement & Pension System now owns 8,960 shares of the financial services provider’s stock worth $1,950,000 after buying an additional 1,279 shares during the last quarter. 84.68% of the stock is owned by institutional investors.

M&T Bank Company Profile

M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Founded in 1856 as Manufacturers and Traders Bank, the company operates primarily through M&T Bank and its wealth-management subsidiary, Wilmington Trust.

M&T provides retail and commercial banking services, including checking and savings accounts, loans, mortgages, credit cards, and cash-management services. Through Wilmington Trust and other businesses, it also offers wealth management, trust, investment, and related financial services.

The company serves individuals, businesses, and institutions across parts of the northeastern and Mid-Atlantic United States, with a presence extending into the Washington, DC, area.