M&T Bank Co. (NYSE:MTB) Receives Average Recommendation of "Hold" from Brokerages

Shares of M&T Bank Co. (NYSE:MTB - Get Free Report) have received an average rating of "Hold" from the nineteen brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $208.24.

A number of research analysts have weighed in on MTB shares. Morgan Stanley cut their price objective on shares of M&T Bank from $269.00 to $253.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Royal Bank of Canada cut their price target on shares of M&T Bank from $208.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Barclays decreased their price objective on shares of M&T Bank from $235.00 to $220.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 15th. Piper Sandler cut their target price on M&T Bank from $220.00 to $210.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Finally, Evercore ISI decreased their price target on M&T Bank from $234.00 to $205.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th.

Insider Activity at M&T Bank

In other news, EVP Christopher E. Kay sold 1,738 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value of $299,526.92. Following the sale, the executive vice president now directly owns 10,751 shares in the company, valued at approximately $1,852,827.34. This trade represents a 13.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On M&T Bank

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Sanctuary Advisors LLC increased its position in shares of M&T Bank by 0.3% during the fourth quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider's stock worth $3,195,000 after purchasing an additional 52 shares in the last quarter. Quadrant Capital Group LLC grew its stake in M&T Bank by 5.8% during the 4th quarter. Quadrant Capital Group LLC now owns 971 shares of the financial services provider's stock worth $183,000 after buying an additional 53 shares during the last quarter. Catalina Capital Group LLC increased its position in M&T Bank by 2.0% during the 4th quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider's stock valued at $531,000 after buying an additional 56 shares in the last quarter. Marcum Wealth LLC raised its stake in M&T Bank by 4.9% in the first quarter. Marcum Wealth LLC now owns 1,231 shares of the financial services provider's stock valued at $220,000 after buying an additional 57 shares during the last quarter. Finally, Parallel Advisors LLC boosted its holdings in M&T Bank by 1.7% in the fourth quarter. Parallel Advisors LLC now owns 3,512 shares of the financial services provider's stock worth $660,000 after acquiring an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company's stock.

M&T Bank Price Performance

Shares of M&T Bank stock traded up $4.42 during trading hours on Tuesday, reaching $175.28. The company's stock had a trading volume of 854,217 shares, compared to its average volume of 1,125,237. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99. M&T Bank has a one year low of $139.78 and a one year high of $225.70. The firm has a 50 day moving average price of $171.44 and a 200-day moving average price of $190.23. The stock has a market cap of $28.80 billion, a P/E ratio of 11.98, a P/E/G ratio of 1.38 and a beta of 0.58.

M&T Bank (NYSE:MTB - Get Free Report) last announced its earnings results on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). The company had revenue of $2.31 billion during the quarter, compared to analysts' expectations of $2.35 billion. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same quarter last year, the firm posted $3.09 EPS. On average, analysts predict that M&T Bank will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date was Monday, March 3rd. M&T Bank's dividend payout ratio (DPR) is 36.17%.

M&T Bank announced that its Board of Directors has authorized a stock repurchase program on Wednesday, January 22nd that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

About M&T Bank

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.