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

Key Points

• M&T Bank has a consensus “Hold” rating from 22 brokerages: 14 analysts rate it Hold, seven Buy, and one Sell. The average 12-month price target is $252.28.
• The bank reported quarterly EPS of $5.35, beating analyst expectations of $4.66, while revenue of $2.53 billion also exceeded estimates of $2.46 billion.
• MTB opened at $254.16, near its 52-week high of $255.68, and institutional investors own a substantial 84.68% of the company’s outstanding shares.

Shares of M&T Bank Corporation (NYSE:MTB - Get Free Report) have earned a consensus recommendation of "Hold" from the twenty-two brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seven have issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $252.2750.

A number of analysts have recently weighed in on MTB shares. Truist Financial raised their price objective on M&T Bank from $230.00 to $268.00 and gave the stock a "hold" rating in a research report on Tuesday, July 21st. Jefferies Financial Group reiterated a "buy" rating and issued a $300.00 price target on shares of M&T Bank in a research note on Wednesday, July 15th. Barclays raised their price target on M&T Bank from $236.00 to $267.00 and gave the stock an "equal weight" rating in a report on Thursday, July 16th. Royal Bank Of Canada boosted their price target on M&T Bank from $230.00 to $255.00 and gave the stock an "outperform" rating in a research note on Thursday, July 16th. Finally, DA Davidson increased their price objective on shares of M&T Bank from $263.00 to $266.00 and gave the company a "neutral" rating in a research report on Thursday, July 16th.

M&T Bank Trading Up 0.0%

NYSE:MTB opened at $254.16 on Monday. M&T Bank has a 52 week low of $174.76 and a 52 week high of $255.68. The firm has a 50 day moving average of $241.26 and a 200 day moving average of $224.67. 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 stock has a market capitalization of $36.71 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 1.18 and a beta of 0.57.

M&T Bank (NYSE:MTB - Get Free Report) last released its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $0.69. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates 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 company earned $4.28 earnings per share. As a group, sell-side analysts anticipate that M&T Bank will post 19.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its stake in shares of M&T Bank by 3.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,416,224 shares of the financial services provider's stock worth $285,341,000 after buying an additional 49,336 shares during the period. Barclays PLC increased its position in shares of M&T Bank by 3.9% in the 4th quarter. Barclays PLC now owns 530,305 shares of the financial services provider's stock valued at $106,846,000 after acquiring an additional 20,120 shares during the period. Davis Asset Management L.P. purchased a new position in M&T Bank in the 2nd quarter worth $97,584,000. Russell Investments Group Ltd. raised its stake in M&T Bank by 35.4% in the 4th quarter. Russell Investments Group Ltd. now owns 396,531 shares of the financial services provider's stock worth $79,954,000 after acquiring an additional 103,692 shares during the last quarter. Finally, LSV Asset Management lifted its position in M&T Bank by 14.5% during the 4th quarter. LSV Asset Management now owns 391,900 shares of the financial services provider's stock worth $78,960,000 after acquiring an additional 49,500 shares during the period. Institutional investors and hedge funds own 84.68% of the company's stock.

M&T Bank Company Profile

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.

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