Shares of M&T Bank Corporation (NYSE:MTB – Get Free Report) have been assigned a consensus recommendation of “Hold” from the twenty-two research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $255.9750.
MTB has been the subject of several recent research reports. Royal Bank Of Canada upped their target price on shares of M&T Bank from $230.00 to $255.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. Robert W. Baird lifted their price objective on M&T Bank from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Wall Street Zen raised M&T Bank from a “sell” rating to a “hold” rating in a research note on Monday, July 20th. Evercore set a $260.00 price objective on M&T Bank in a report on Monday, July 6th. Finally, Wells Fargo & Company increased their target price on M&T Bank from $215.00 to $224.00 and gave the company an “underweight” rating in a research note on Thursday, July 16th.
Check Out Our Latest Stock Report on MTB
Insider Buying and Selling at M&T Bank
Institutional Trading of M&T Bank
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp bought a new position in shares of M&T Bank during the second quarter valued at approximately $330,978,000. Davis Asset Management L.P. bought a new stake in shares of M&T Bank in the 2nd quarter worth approximately $97,584,000. Squarepoint Ops LLC boosted its position in shares of M&T Bank by 718.5% in the 2nd quarter. Squarepoint Ops LLC now owns 224,397 shares of the financial services provider’s stock worth $53,409,000 after purchasing an additional 196,982 shares in the last quarter. Danske Bank A S purchased a new stake in shares of M&T Bank in the 2nd quarter worth approximately $34,683,000. Finally, Susquehanna Fundamental Investments LLC grew its stake in shares of M&T Bank by 205.4% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 110,553 shares of the financial services provider’s stock worth $26,313,000 after buying an additional 74,353 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.
M&T Bank Trading Up 0.2%
Shares of MTB stock opened at $226.41 on Friday. M&T Bank has a 12-month low of $174.76 and a 12-month high of $255.95. The company has a market capitalization of $32.70 billion, a P/E ratio of 11.95, a P/E/G ratio of 1.28 and a beta of 0.56. The firm has a 50-day moving average price of $244.30 and a 200 day moving average price of $226.58. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.53.
M&T Bank (NYSE:MTB – Get Free Report) last released its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $0.69. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.46 billion. M&T Bank had a return on equity of 11.80% and a net margin of 22.72%.During the same period in the previous year, the business posted $4.28 earnings per share. Research analysts forecast that M&T Bank will post 19.45 earnings per share for the current fiscal year.
M&T Bank Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 1st. M&T Bank’s dividend payout ratio (DPR) is presently 31.68%.
M&T Bank Company Profile
M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Its principal banking subsidiary, Manufacturers and Traders Trust Company, commonly known as M&T Bank, provides financial products and services to individuals, businesses, institutions and government entities.
The company’s offerings include checking and savings accounts, consumer and commercial loans, residential mortgages, credit cards, treasury management and other business banking services.
Read More
- Five stocks we like better than M&T Bank
- Aeluma’s Selloff Could Be Setting Up Its Next Big Move
- Crypto Bill Stalls, Smart Money Calls: Time to Buy the Dip?
- The September Scramble: Find Sanctuary in These 3 Defensive Dividend Stocks
- The Fed’s Rate Hike Could Backfire If Oil Prices Collapse
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.
