M&T Bank Corporation (NYSE:MTB) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Analysts rate M&T Bank “Hold” overall: Of 22 firms covering the stock, 13 recommend holding, eight recommend buying and one recommends selling. The average 12-month price target is approximately $255.98, versus a share price of $239.06.
• Recent results exceeded expectations: M&T Bank reported quarterly earnings of $5.35 per share, beating the $4.66 consensus estimate, while revenue reached $2.53 billion versus expectations of $2.46 billion.
• The bank declared a $1.50 quarterly dividend: The dividend equates to $6.00 annually and a 2.5% yield, with a payout ratio of 31.68%. Institutional investors own approximately 84.68% of the company’s stock.

Shares of M&T Bank Corporation (NYSE:MTB - Get Free Report) have earned an average rating of "Hold" from the twenty-two ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating 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.

Several research firms have commented on MTB. Royal Bank Of Canada raised 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 note on Thursday, July 16th. Keefe, Bruyette & Woods upped their price target on shares of M&T Bank from $242.00 to $250.00 and gave the stock a "market perform" rating in a research note on Thursday, July 16th. UBS Group increased their price objective on shares of M&T Bank from $252.00 to $255.00 and gave the company a "neutral" rating in a report on Monday, August 3rd. Barclays increased their price objective on shares of M&T Bank from $236.00 to $267.00 and gave the company an "equal weight" rating in a report on Thursday, July 16th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of M&T Bank in a research note on Tuesday, September 1st.

M&T Bank Trading Up 0.4%

NYSE:MTB opened at $239.06 on Friday. The stock has a market cap of $34.53 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 1.35 and a beta of 0.56. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.96 and a current ratio of 0.96. M&T Bank has a 1 year low of $174.76 and a 1 year high of $255.95. The business has a fifty day moving average of $244.84 and a 200-day moving average of $226.16.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share for the quarter, beating analysts' consensus estimates of $4.66 by $0.69. The business had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.46 billion. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. During the same period in the previous year, the business earned $4.28 earnings per share. Equities analysts predict that M&T Bank will post 19.45 earnings per share for the current year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 1st. M&T Bank's dividend payout ratio (DPR) is presently 31.68%.

Insider Activity

In other news, Director Rudina Seseri sold 623 shares of M&T Bank stock in a transaction on Friday, August 21st. The stock was sold at an average price of $241.04, for a total transaction of $150,167.92. Following the transaction, the director directly owned 3,649 shares in the company, valued at approximately $879,554.96. This trade represents a 14.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.44% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Sequoia Financial Advisors LLC grew its holdings in M&T Bank by 7.3% during the second quarter. Sequoia Financial Advisors LLC now owns 9,239 shares of the financial services provider's stock worth $2,199,000 after acquiring an additional 627 shares during the period. WINTON GROUP Ltd lifted its holdings in M&T Bank by 310.3% in the 2nd quarter. WINTON GROUP Ltd now owns 23,159 shares of the financial services provider's stock valued at $5,512,000 after acquiring an additional 17,515 shares during the last quarter. Cidel Asset Management Inc. lifted its holdings in M&T Bank by 5.4% in the 2nd quarter. Cidel Asset Management Inc. now owns 1,196 shares of the financial services provider's stock valued at $285,000 after acquiring an additional 61 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC lifted its holdings in M&T Bank by 13.8% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,119 shares of the financial services provider's stock valued at $266,000 after acquiring an additional 136 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of M&T Bank by 17.0% during the 2nd quarter. NewEdge Advisors LLC now owns 17,458 shares of the financial services provider's stock valued at $4,155,000 after purchasing an additional 2,540 shares in the last quarter. Institutional investors own 84.68% of the company's stock.

About M&T Bank

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.