M&T Bank Co. (NYSE:MTB) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of M&T Bank Co. (NYSE:MTB - Get Free Report) have earned an average recommendation of "Moderate Buy" from the twenty-one analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $212.53.

A number of equities analysts have weighed in on the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $200.00 price target on shares of M&T Bank in a research report on Monday, May 19th. Piper Sandler reduced their price objective 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. Morgan Stanley reduced 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. Jefferies Financial Group set a $225.00 target price on shares of M&T Bank and gave the company a "buy" rating in a research note on Wednesday, May 21st. Finally, Citigroup reduced their price objective on M&T Bank from $230.00 to $195.00 and set a "neutral" rating on the stock in a report on Monday, March 24th.

M&T Bank Trading Up 2.6%

MTB traded up $4.70 on Friday, hitting $184.14. 1,113,933 shares of the company were exchanged, compared to its average volume of 1,144,885. The stock has a market capitalization of $29.56 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. The firm has a fifty day simple moving average of $172.17 and a two-hundred day simple moving average of $188.41. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. M&T Bank has a 12 month low of $139.78 and a 12 month high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last released its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.41 by ($0.03). M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. The business had revenue of $2.31 billion for the quarter, compared to analysts' expectations of $2.35 billion. During the same quarter in the previous year, the business posted $3.09 earnings per share. Sell-side analysts expect that M&T Bank will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be issued a dividend of $1.35 per share. The ex-dividend date is Monday, June 2nd. This represents a $5.40 annualized dividend and a yield of 2.93%. M&T Bank's payout ratio is 36.17%.

Insider Activity

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the sale, the executive vice president now directly owns 10,751 shares of the company's stock, valued at $1,852,827.34. The trade was a 13.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.53% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MTB. FMR LLC raised its stake in shares of M&T Bank by 14.3% in the fourth quarter. FMR LLC now owns 14,110,412 shares of the financial services provider's stock valued at $2,652,899,000 after purchasing an additional 1,761,014 shares in the last quarter. Wellington Management Group LLP lifted its holdings in M&T Bank by 33.1% in the first quarter. Wellington Management Group LLP now owns 9,894,065 shares of the financial services provider's stock valued at $1,768,564,000 after buying an additional 2,460,315 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of M&T Bank by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,289,727 shares of the financial services provider's stock worth $994,522,000 after purchasing an additional 252,583 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of M&T Bank by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 4,370,762 shares of the financial services provider's stock valued at $819,768,000 after acquiring an additional 40,948 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in M&T Bank by 15.2% in the first quarter. Invesco Ltd. now owns 3,552,666 shares of the financial services provider's stock worth $635,039,000 after purchasing an additional 468,758 shares during the period. Institutional investors and hedge funds own 84.68% of the company's stock.

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.