Shares of M&T Bank Corporation (NYSE:MTB – Get Free Report) have received a consensus rating of “Hold” from the twenty-one brokerages that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $235.3158.
A number of research analysts have commented on MTB shares. Argus upped their price target on M&T Bank from $230.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. Royal Bank Of Canada restated an “outperform” rating and set a $225.00 price target on shares of M&T Bank in a research note on Thursday, May 21st. Jefferies Financial Group upped their price target on M&T Bank from $255.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Wall Street Zen cut M&T Bank from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of M&T Bank in a research note on Thursday, June 4th.
Read Our Latest Stock Analysis on MTB
Insider Activity
Institutional Trading of M&T Bank
Several hedge funds have recently modified their holdings of MTB. Empowered Funds LLC raised its stake in shares of M&T Bank by 11.9% in the first quarter. Empowered Funds LLC now owns 3,396 shares of the financial services provider’s stock valued at $607,000 after acquiring an additional 362 shares in the last quarter. Woodline Partners LP raised its stake in M&T Bank by 40.7% in the first quarter. Woodline Partners LP now owns 14,018 shares of the financial services provider’s stock valued at $2,506,000 after buying an additional 4,054 shares in the last quarter. Lazard Asset Management LLC raised its stake in M&T Bank by 24.6% in the second quarter. Lazard Asset Management LLC now owns 2,900 shares of the financial services provider’s stock valued at $562,000 after buying an additional 572 shares in the last quarter. MUFG Securities EMEA plc acquired a new stake in M&T Bank in the second quarter valued at $92,000. Finally, Geneos Wealth Management Inc. raised its stake in M&T Bank by 4.3% in the second quarter. Geneos Wealth Management Inc. now owns 1,727 shares of the financial services provider’s stock valued at $335,000 after buying an additional 71 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.
M&T Bank Stock Up 1.2%
NYSE:MTB opened at $225.27 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.44. The stock’s fifty day moving average is $214.58 and its two-hundred day moving average is $211.68. M&T Bank has a 52 week low of $174.76 and a 52 week high of $239.00. The stock has a market capitalization of $32.99 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57.
M&T Bank (NYSE:MTB – Get Free Report) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.18 EPS for the quarter, topping analysts’ consensus estimates of $4.02 by $0.16. M&T Bank had a return on equity of 11.35% and a net margin of 22.07%.The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the prior year, the firm earned $3.32 earnings per share. Research analysts anticipate that M&T Bank will post 18.69 EPS for the current year.
M&T Bank Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Monday, June 1st. M&T Bank’s dividend payout ratio (DPR) is presently 33.59%.
M&T Bank announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 31st that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 16.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
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.
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