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

M&T Bank Co. (NYSE:MTB) has received an average recommendation of “Hold” from the sixteen ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $215.50.

A number of analysts have recently issued reports on MTB shares. Wedbush lifted their price objective on shares of M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Compass Point upped their price objective on M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. The Goldman Sachs Group raised their price objective on M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Bank of America boosted their target price on M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Royal Bank of Canada increased their price target on shares of M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, October 18th.

M&T Bank Price Performance

Shares of NYSE MTB opened at $188.01 on Wednesday. The stock’s 50-day simple moving average is $203.87 and its two-hundred day simple moving average is $179.90. M&T Bank has a twelve month low of $128.31 and a twelve month high of $225.70. The firm has a market capitalization of $31.19 billion, a P/E ratio of 13.92, a P/E/G ratio of 2.83 and a beta of 0.76. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $2.30 billion. As a group, equities analysts anticipate that M&T Bank will post 14.63 EPS for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were paid a dividend of $1.35 per share. The ex-dividend date was Monday, December 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.87%. M&T Bank’s dividend payout ratio (DPR) is presently 39.97%.

Insider Buying and Selling

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 2,490 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total value of $537,566.10. Following the completion of the sale, the insider now directly owns 16,429 shares in the company, valued at $3,546,856.81. This trade represents a 13.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Tracy S. Woodrow sold 2,121 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total value of $468,210.75. Following the transaction, the executive vice president now owns 5,141 shares in the company, valued at $1,134,875.75. This trade represents a 29.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 84,994 shares of company stock valued at $17,211,278 over the last quarter. 0.82% of the stock is owned by company insiders.

Hedge Funds Weigh In On M&T Bank

Several institutional investors and hedge funds have recently added to or reduced their stakes in MTB. Plato Investment Management Ltd increased its stake in shares of M&T Bank by 2,300.0% in the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 161 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in M&T Bank in the third quarter worth about $32,000. Hexagon Capital Partners LLC increased its stake in shares of M&T Bank by 54.4% during the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 68 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of M&T Bank by 329.2% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 158 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of M&T Bank in the 3rd quarter worth approximately $44,000. 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.