M&T Bank Corporation (NYSE:MTB) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• M&T Bank Corporation has received an average rating of "Moderate Buy" from 21 brokerages, with 13 buy recommendations and one sell recommendation.
• The bank's dividend has increased from $1.35 to $1.50 per share, representing a 3.0% yield, with the ex-dividend date on September 2nd.
• M&T Bank's stock is currently trading at $198.91, showing a slight decrease of 0.3% on the day, while the company's market cap stands at $31.08 billion.

M&T Bank Corporation (NYSE:MTB - Get Free Report) has earned an average recommendation of "Moderate Buy" from the twenty-one ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and thirteen have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $214.5250.

A number of brokerages recently weighed in on MTB. Citigroup boosted their price objective on M&T Bank from $200.00 to $212.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Cantor Fitzgerald started coverage on M&T Bank in a research note on Wednesday, September 10th. They issued an "overweight" rating and a $228.00 price objective for the company. Morgan Stanley upped their target price on M&T Bank from $206.00 to $215.00 and gave the company an "overweight" rating in a report on Friday, June 20th. Jefferies Financial Group increased their price objective on M&T Bank from $220.00 to $240.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. Finally, Wells Fargo & Company increased their price objective on M&T Bank from $175.00 to $185.00 and gave the stock an "underweight" rating in a research report on Thursday, July 17th.

M&T Bank Stock Down 0.3%

MTB stock opened at $198.91 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average price of $195.37 and a two-hundred day moving average price of $184.86. The company has a market cap of $31.08 billion, a price-to-earnings ratio of 12.88, a P/E/G ratio of 0.98 and a beta of 0.67. M&T Bank has a twelve month low of $150.75 and a twelve month high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last issued its earnings results on Wednesday, July 16th. The financial services provider reported $4.28 EPS for the quarter, topping the consensus estimate of $4.04 by $0.24. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.39 billion. M&T Bank had a return on equity of 10.35% and a net margin of 20.44%.During the same period in the previous year, the company posted $3.73 EPS. Analysts anticipate that M&T Bank will post 16.57 EPS for the current fiscal year.

M&T Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd will be issued a $1.50 dividend. This is an increase from M&T Bank's previous quarterly dividend of $1.35. This represents a $6.00 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Tuesday, September 2nd. M&T Bank's dividend payout ratio (DPR) is presently 38.86%.

Insider Buying and Selling

In other M&T Bank news, EVP Peter D'arcy sold 2,461 shares of M&T Bank stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $197.31, for a total transaction of $485,579.91. Following the sale, the executive vice president directly owned 9,319 shares of the company's stock, valued at approximately $1,838,731.89. The trade was a 20.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John P. Barnes sold 15,000 shares of M&T Bank stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $199.79, for a total transaction of $2,996,850.00. Following the transaction, the director owned 17,866 shares of the company's stock, valued at $3,569,448.14. The trade was a 45.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,738 shares of company stock valued at $3,734,612 over the last ninety days. 0.53% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MTB. Two Sigma Advisers LP bought a new position in shares of M&T Bank in the 4th quarter valued at about $982,000. Mackenzie Financial Corp lifted its stake in M&T Bank by 12.7% in the fourth quarter. Mackenzie Financial Corp now owns 20,976 shares of the financial services provider's stock worth $3,944,000 after purchasing an additional 2,361 shares during the last quarter. Siemens Fonds Invest GmbH lifted its stake in M&T Bank by 78.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 3,202 shares of the financial services provider's stock worth $600,000 after purchasing an additional 1,412 shares during the last quarter. Wood Tarver Financial Group LLC bought a new stake in M&T Bank in the fourth quarter worth about $29,000. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of M&T Bank by 100.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 32,686 shares of the financial services provider's stock worth $6,145,000 after acquiring an additional 16,380 shares during the period. Institutional investors own 84.68% of the company's stock.

M&T Bank Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.