M&T Bank Co. (NYSE:MTB) Given Consensus Recommendation of “Hold” by Brokerages

Shares of M&T Bank Co. (NYSE:MTB) have been assigned an average rating of “Hold” from the sixteen analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $215.50.

Several equities research analysts have recently commented on MTB shares. Keefe, Bruyette & Woods lifted their price target on shares of M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Barclays increased their price target on M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Citigroup cut M&T Bank from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $220.00 to $230.00 in a research note on Monday, November 25th. Finally, Evercore ISI increased their target price on M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th.

M&T Bank Stock Down 0.9 %

Shares of MTB opened at $189.23 on Wednesday. The business’s fifty day moving average price is $204.09 and its two-hundred day moving average price is $179.25. The firm has a market capitalization of $31.40 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 2.83 and a beta of 0.76. M&T Bank has a 52 week low of $128.31 and a 52 week high of $225.70. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. The firm had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. On average, analysts predict that M&T Bank will post 14.63 earnings per share for the current year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.85%. M&T Bank’s payout ratio is 39.97%.

Insider Buying and Selling at M&T Bank

In other news, Director John P. Barnes sold 20,000 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $193.97, for a total value of $3,879,400.00. Following the sale, the director now directly owns 49,960 shares in the company, valued at $9,690,741.20. The trade was a 28.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman Kevin J. Pearson sold 7,500 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $195.88, for a total value of $1,469,100.00. Following the transaction, the insider now owns 40,502 shares of the company’s stock, valued at approximately $7,933,531.76. The trade was a 15.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,994 shares of company stock valued at $17,211,278. 0.82% of the stock is currently owned by corporate insiders.

Institutional Trading of M&T Bank

A number of institutional investors have recently made changes to their positions in the business. Plato Investment Management Ltd grew its position in M&T Bank by 2,300.0% in the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 161 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of M&T Bank during the 3rd quarter worth approximately $32,000. Hexagon Capital Partners LLC boosted its holdings in shares of M&T Bank by 54.4% in the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after buying an additional 68 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of M&T Bank by 329.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after buying an additional 158 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in M&T Bank during the third quarter worth $44,000. Institutional investors own 84.68% of the company’s stock.

About M&T Bank

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.