M&T Bank Corporation (NYSE:MTB) Receives $228.50 Consensus PT from Analysts

Shares of M&T Bank Corporation (NYSE:MTB) have been given an average recommendation of “Hold” by the twenty-one research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $228.50.

MTB has been the subject of a number of analyst reports. Cantor Fitzgerald boosted their price target on M&T Bank from $228.00 to $238.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Wells Fargo & Company boosted their target price on shares of M&T Bank from $185.00 to $205.00 and gave the company an “underweight” rating in a research report on Monday, January 5th. Keefe, Bruyette & Woods upped their price target on shares of M&T Bank from $220.00 to $230.00 and gave the stock a “market perform” rating in a report on Wednesday, December 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of M&T Bank in a research report on Monday, December 29th. Finally, Bank of America restated a “neutral” rating and set a $225.00 price objective on shares of M&T Bank in a research report on Wednesday, January 7th.

M&T Bank Trading Up 2.0%

Shares of MTB stock opened at $222.87 on Monday. The stock has a market cap of $33.21 billion, a P/E ratio of 13.07, a price-to-earnings-growth ratio of 0.96 and a beta of 0.60. M&T Bank has a 1 year low of $150.75 and a 1 year high of $239.00. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.41. The stock has a 50 day simple moving average of $217.50 and a 200 day simple moving average of $201.05.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.72 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.25. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $2.47 billion. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.During the same period in the previous year, the firm earned $3.77 EPS. On average, research analysts predict that M&T Bank will post 16.57 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 2nd will be paid a $1.50 dividend. The ex-dividend date is Monday, March 2nd. This represents a $6.00 annualized dividend and a dividend yield of 2.7%. M&T Bank’s dividend payout ratio (DPR) is presently 35.19%.

Insider Buying and Selling

In related news, Director Kirk W. Walters sold 909 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $227.37, for a total transaction of $206,679.33. Following the completion of the sale, the director directly owned 5,976 shares in the company, valued at $1,358,763.12. This represents a 13.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John P. Barnes sold 21,193 shares of M&T Bank stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $235.85, for a total value of $4,998,369.05. Following the completion of the transaction, the director owned 15,142 shares in the company, valued at approximately $3,571,240.70. This represents a 58.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 40,855 shares of company stock worth $9,341,446 in the last ninety days. 0.53% of the stock is owned by insiders.

Hedge Funds Weigh In On M&T Bank

Institutional investors have recently added to or reduced their stakes in the stock. Canoe Financial LP increased its holdings in shares of M&T Bank by 46.8% during the third quarter. Canoe Financial LP now owns 433,679 shares of the financial services provider’s stock worth $85,704,000 after buying an additional 138,173 shares in the last quarter. Plato Investment Management Ltd boosted its holdings in shares of M&T Bank by 54.3% during the 3rd quarter. Plato Investment Management Ltd now owns 8,251 shares of the financial services provider’s stock valued at $1,618,000 after acquiring an additional 2,905 shares in the last quarter. LSV Asset Management grew its position in M&T Bank by 19.9% during the 3rd quarter. LSV Asset Management now owns 342,400 shares of the financial services provider’s stock worth $67,665,000 after acquiring an additional 56,750 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its holdings in M&T Bank by 120.3% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 17,925 shares of the financial services provider’s stock worth $3,542,000 after purchasing an additional 9,788 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in M&T Bank by 19.1% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 86,731 shares of the financial services provider’s stock valued at $17,140,000 after purchasing an additional 13,889 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

About M&T Bank

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.