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

M&T Bank Corporation (NYSE:MTB - Get Free Report) has received a consensus rating of "Moderate Buy" from the twenty-one research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $211.48.

MTB has been the subject of a number of research analyst reports. Wall Street Zen raised shares of M&T Bank from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. JPMorgan Chase & Co. lowered their price objective on shares of M&T Bank from $212.50 to $186.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. TD Cowen began coverage on shares of M&T Bank in a research report on Thursday, May 15th. They issued a "buy" rating and a $230.00 price objective for the company. Jefferies Financial Group set a $225.00 target price on M&T Bank and gave the company a "buy" rating in a research note on Wednesday, May 21st. Finally, Piper Sandler reduced their target price on M&T Bank from $220.00 to $210.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th.

M&T Bank Price Performance

MTB stock traded down $2.38 during trading on Friday, hitting $201.67. The stock had a trading volume of 1,004,391 shares, compared to its average volume of 1,192,629. The company's 50 day moving average price is $186.49 and its two-hundred day moving average price is $184.07. M&T Bank has a 1-year low of $150.75 and a 1-year high of $225.70. The stock has a market cap of $32.37 billion, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 1.46 and a beta of 0.63. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.97 and a current ratio of 0.97.

M&T Bank (NYSE:MTB - Get Free Report) last announced its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share for the quarter, missing the consensus estimate of $3.41 by ($0.03). M&T Bank had a net margin of 19.86% and a return on equity of 10.18%. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the previous year, the firm posted $3.09 EPS. On average, sell-side analysts forecast that M&T Bank will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 2nd were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend was Monday, June 2nd. M&T Bank's payout ratio is 36.17%.

Insider Transactions at M&T Bank

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 6,700 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $183.52, for a total value of $1,229,584.00. Following the sale, the director directly owned 23,070 shares in the company, valued at approximately $4,233,806.40. This trade represents a 22.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.53% of the company's stock.

Institutional Investors Weigh In On M&T Bank

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Preservation Advisors LLC bought a new stake in shares of M&T Bank during the first quarter valued at about $25,000. WPG Advisers LLC acquired a new position in M&T Bank during the first quarter worth about $25,000. Wood Tarver Financial Group LLC acquired a new position in M&T Bank during the fourth quarter worth about $29,000. Banque Transatlantique SA acquired a new position in M&T Bank during the fourth quarter worth about $38,000. Finally, Grove Bank & Trust grew its holdings in M&T Bank by 104.6% during the first quarter. Grove Bank & Trust now owns 223 shares of the financial services provider's stock worth $40,000 after acquiring an additional 114 shares during the period. 84.68% of the stock is currently owned by institutional investors.

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.