M&T Bank Corporation (NYSE:MTB – Get Free Report) has received an average recommendation of “Hold” from the twenty-one research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $236.00.
A number of brokerages recently weighed in on MTB. DA Davidson increased their price target on shares of M&T Bank from $233.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Jefferies Financial Group boosted their price objective on shares of M&T Bank from $255.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Piper Sandler increased their target price on shares of M&T Bank from $235.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Morgan Stanley lifted their price target on shares of M&T Bank from $245.00 to $253.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Robert W. Baird boosted their price target on shares of M&T Bank from $230.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, April 16th.
Read Our Latest Analysis on MTB
M&T Bank Trading Down 1.3%
M&T Bank (NYSE:MTB – Get Free Report) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $4.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.02 by $0.16. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.43 billion. M&T Bank had a return on equity of 11.35% and a net margin of 22.07%.During the same quarter last year, the business earned $3.32 earnings per share. On average, equities analysts expect that M&T Bank will post 18.8 earnings per share for the current year.
M&T Bank declared that its board has authorized a stock buyback program on Tuesday, March 31st that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 16.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
M&T Bank Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st were issued a dividend of $1.50 per share. The ex-dividend date was Monday, June 1st. This represents a $6.00 annualized dividend and a yield of 2.5%. M&T Bank’s payout ratio is currently 33.59%.
Insider Transactions at M&T Bank
In other M&T Bank news, EVP Christopher E. Kay sold 3,105 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $216.50, for a total value of $672,232.50. Following the completion of the sale, the executive vice president directly owned 6,753 shares in the company, valued at $1,462,024.50. This represents a 31.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.44% of the company’s stock.
Hedge Funds Weigh In On M&T Bank
Institutional investors have recently modified their holdings of the business. Fisher Asset Management LLC raised its holdings in M&T Bank by 64.0% during the 3rd quarter. Fisher Asset Management LLC now owns 36,215 shares of the financial services provider’s stock worth $7,157,000 after buying an additional 14,135 shares during the period. Delphi Management Inc. MA acquired a new position in shares of M&T Bank in the fourth quarter valued at approximately $1,524,000. Entropy Technologies LP bought a new stake in shares of M&T Bank during the third quarter worth $4,571,000. LSV Asset Management increased its position in shares of M&T Bank by 14.5% during the fourth quarter. LSV Asset Management now owns 391,900 shares of the financial services provider’s stock worth $78,960,000 after acquiring an additional 49,500 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. AG raised its holdings in shares of M&T Bank by 101.8% during the third quarter. B. Metzler seel. Sohn & Co. AG now owns 31,910 shares of the financial services provider’s stock worth $6,306,000 after acquiring an additional 16,101 shares during the period. Institutional investors own 84.68% of the company’s stock.
M&T Bank Company Profile
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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