M&T Bank Co. (NYSE:MTB) has earned an average rating of “Buy” from the sixteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $183.88.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research lowered M&T Bank from a “buy” rating to a “hold” rating in a research note on Monday, October 22nd. UBS Group raised M&T Bank from a “sell” rating to a “neutral” rating in a research note on Tuesday. Barclays decreased their price target on M&T Bank from $210.00 to $203.00 and set an “overweight” rating for the company in a research note on Wednesday, January 2nd. Morgan Stanley decreased their price target on M&T Bank from $175.00 to $173.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, Wedbush set a $188.00 price target on M&T Bank and gave the stock a “hold” rating in a research note on Thursday, October 18th.
In other M&T Bank news, insider Doris P. Meister sold 800 shares of the firm’s stock in a transaction on Friday, November 9th. The stock was sold at an average price of $167.24, for a total transaction of $133,792.00. Following the transaction, the insider now directly owns 342 shares in the company, valued at approximately $57,196.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert J. Bojdak sold 934 shares of the firm’s stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $164.50, for a total value of $153,643.00. Following the transaction, the executive vice president now owns 19,567 shares in the company, valued at $3,218,771.50. The disclosure for this sale can be found here. Insiders have sold a total of 3,164 shares of company stock worth $524,899 over the last 90 days. 0.48% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTB. US Bancorp DE increased its holdings in M&T Bank by 10.1% during the 2nd quarter. US Bancorp DE now owns 9,164 shares of the financial services provider’s stock worth $1,559,000 after purchasing an additional 841 shares during the period. Janus Henderson Group PLC increased its holdings in shares of M&T Bank by 25.5% in the 2nd quarter. Janus Henderson Group PLC now owns 356,255 shares of the financial services provider’s stock valued at $60,617,000 after acquiring an additional 72,307 shares during the period. FMR LLC increased its holdings in shares of M&T Bank by 7.5% in the 2nd quarter. FMR LLC now owns 4,251,775 shares of the financial services provider’s stock valued at $723,439,000 after acquiring an additional 297,143 shares during the period. Commonwealth Bank of Australia increased its holdings in shares of M&T Bank by 398.7% in the 2nd quarter. Commonwealth Bank of Australia now owns 7,366 shares of the financial services provider’s stock valued at $1,250,000 after acquiring an additional 5,889 shares during the period. Finally, Burney Co. increased its holdings in shares of M&T Bank by 26.8% in the 2nd quarter. Burney Co. now owns 2,203 shares of the financial services provider’s stock valued at $375,000 after acquiring an additional 465 shares during the period. Institutional investors own 80.59% of the company’s stock.
Shares of NYSE:MTB traded up $0.37 during trading on Friday, hitting $150.81. The company had a trading volume of 461,200 shares, compared to its average volume of 925,200. The firm has a market capitalization of $21.38 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 0.89 and a beta of 0.99. M&T Bank has a one year low of $133.78 and a one year high of $197.37. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.07 and a quick ratio of 1.07.
M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Wednesday, October 17th. The financial services provider reported $3.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.35 by $0.18. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.50 billion. M&T Bank had a return on equity of 13.15% and a net margin of 26.84%. During the same period last year, the company earned $2.21 EPS. As a group, analysts expect that M&T Bank will post 13.06 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 31st. Shareholders of record on Monday, December 3rd were issued a dividend of $1.00 per share. The ex-dividend date was Friday, November 30th. This represents a $4.00 annualized dividend and a yield of 2.65%. M&T Bank’s payout ratio is currently 42.78%.
About M&T Bank
M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide retail and commercial banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals.
Further Reading: What is a Fiduciary?
Receive News & Ratings for M&T Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M&T Bank and related companies with MarketBeat.com's FREE daily email newsletter.