M&T Bank Corporation (NYSE:MTB) Stock Has Consensus Price Target of $250.47 According to Brokerages

Key Points

• Analyst sentiment is mixed: Twenty-two firms have assigned M&T Bank an average “Hold” rating, with 13 holds, eight buys and one sell. The consensus 12-month price target is $250.47.
• M&T Bank recently reported better-than-expected quarterly results, with EPS of $5.35 versus the $4.66 consensus and revenue of $2.53 billion versus expectations of $2.46 billion.
• The company pays a quarterly dividend of $1.50, equivalent to $6.00 annually and a 2.7% yield. Insiders sold approximately $4.8 million of stock over the past 90 days, while institutional investors own 84.68% of shares.

Shares of M&T Bank Corporation (NYSE:MTB - Get Free Report) have been assigned an average rating of "Hold" from the twenty-two ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, thirteen have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $250.47.

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. reduced their price objective on M&T Bank from $265.50 to $248.50 and set a "neutral" rating on the stock in a research note on Friday. Truist Financial dropped their target price on M&T Bank from $268.00 to $250.00 and set a "hold" rating for the company in a report on Wednesday, September 23rd. Weiss Ratings reissued a "buy (b)" rating on shares of M&T Bank in a research report on Tuesday, September 1st. Wall Street Zen upgraded M&T Bank from a "sell" rating to a "hold" rating in a report on Monday, July 20th. Finally, Cantor Fitzgerald raised their price target on M&T Bank from $262.00 to $285.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 19th.

M&T Bank Price Performance

M&T Bank stock opened at $218.40 on Tuesday. M&T Bank has a 52-week low of $174.76 and a 52-week high of $255.95. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.53. The firm's fifty day moving average is $237.83 and its 200 day moving average is $227.65. The company has a market cap of $31.54 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 1.24 and a beta of 0.61.

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 EPS for the quarter, topping 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 net margin of 22.72% and a return on equity of 11.80%. During the same period last year, the company posted $4.28 EPS. Sell-side analysts forecast that M&T Bank will post 19.45 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st were paid a $1.50 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $6.00 annualized dividend and a dividend yield of 2.7%. M&T Bank's dividend payout ratio is currently 31.68%.

Insider Activity

In related news, Director Rudina Seseri sold 623 shares of M&T Bank stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $241.04, for a total transaction of $150,167.92. Following the completion of the transaction, the director directly owned 3,649 shares of the company's stock, valued at approximately $879,554.96. The trade was a 14.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO René Jones sold 19,396 shares of the company's stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $239.35, for a total transaction of $4,642,432.60. Following the transaction, the chief executive officer owned 103,831 shares in the company, valued at $24,851,949.85. The trade was a 15.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 20,028 shares of company stock valued at $4,794,884 in the last 90 days. Company insiders own 0.44% of the company's stock.

Institutional Investors Weigh In On M&T Bank

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bogart Wealth LLC grew its position in M&T Bank by 233.3% in the 1st quarter. Bogart Wealth LLC now owns 120 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 84 shares during the last quarter. First Bancorp Inc ME bought a new stake in shares of M&T Bank during the second quarter worth $25,000. FNY Investment Advisers LLC purchased a new stake in shares of M&T Bank during the second quarter valued at $51,000. NBH Bank purchased a new stake in shares of M&T Bank during the second quarter valued at $51,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of M&T Bank in the second quarter worth about $86,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

M&T Bank Company Profile

M&T Bank Corporation is a regional financial services company headquartered in Buffalo, New York. Founded in 1856, the company operates primarily through its M&T Bank subsidiary and serves consumers, businesses, institutions and government entities.

M&T Bank provides a range of banking products and services, including checking and savings accounts, consumer lending, residential mortgages, credit cards, commercial loans, treasury management and investment services. Through its wealth management and institutional businesses, the company also offers trust, investment management, custody and related financial services.

The bank serves customers across a footprint concentrated in the Mid-Atlantic and Northeastern United States, including New York, Pennsylvania, Maryland, New Jersey, Delaware, Virginia, West Virginia and Washington, DC Its businesses also include Wilmington Trust, which provides wealth management, corporate and institutional trust, and related services.

John R.

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