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

Key Points

• M&T Bank Corporation (NYSE:MTB) has received a consensus recommendation of "Moderate Buy" from 21 analysts, with 13 buy ratings, 7 hold ratings, and 1 sell rating.
• The company's average 12-month target price among analysts is $212.87, reflecting confidence in its future performance.
• M&T Bank recently reported $4.28 EPS for the last quarter, exceeding expectations of $4.04, and announced a quarterly dividend of $1.35 per share.

M&T Bank Corporation (NYSE:MTB - Get Free Report) has been assigned an average rating of "Moderate Buy" from the twenty-one research firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $212.8750.

MTB has been the topic of several analyst reports. Royal Bank Of Canada reiterated an "outperform" rating and set a $200.00 price target on shares of M&T Bank in a report on Monday, May 19th. Citigroup raised their target price on shares of M&T Bank from $200.00 to $212.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Piper Sandler dropped their target price on shares of M&T Bank from $220.00 to $210.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Cowen began coverage on shares of M&T Bank in a report on Wednesday, May 14th. They set a "buy" rating for the company. Finally, Deutsche Bank Aktiengesellschaft raised M&T Bank from a "hold" rating to a "buy" rating and set a $210.00 price target on the stock in a research report on Thursday, April 24th.

Insider Activity

In related news, Director Robert E. Sadler, Jr. sold 6,700 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $183.52, for a total value of $1,229,584.00. Following the sale, the director owned 23,070 shares of the company's stock, valued at $4,233,806.40. The trade was a 22.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Peter D'arcy sold 2,461 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $197.31, for a total transaction of $485,579.91. Following the transaction, the executive vice president owned 9,319 shares of the company's stock, valued at approximately $1,838,731.89. This represents a 20.89% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,438 shares of company stock worth $1,967,346. 0.53% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wealth Preservation Advisors LLC acquired a new position in M&T Bank in the first quarter valued at about $25,000. WPG Advisers LLC bought a new stake in M&T Bank during the 1st quarter worth approximately $25,000. Wood Tarver Financial Group LLC bought a new position in M&T Bank in the 4th quarter valued at $29,000. Golden State Wealth Management LLC raised its position in M&T Bank by 2,214.3% in the 2nd quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 155 shares during the last quarter. Finally, Banque Transatlantique SA bought a new stake in M&T Bank during the 4th quarter worth about $38,000. 84.68% of the stock is owned by institutional investors.

M&T Bank Stock Down 1.0%

M&T Bank stock traded down $1.88 during mid-day trading on Thursday, hitting $183.62. 852,741 shares of the company's stock were exchanged, compared to its average volume of 1,151,475. M&T Bank has a 1-year low of $150.75 and a 1-year high of $225.70. The stock has a 50 day moving average of $190.67 and a two-hundred day moving average of $184.20. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.47. The stock has a market cap of $28.69 billion, a P/E ratio of 11.89, a P/E/G ratio of 0.91 and a beta of 0.63.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $4.28 EPS for the quarter, beating analysts' consensus estimates of $4.04 by $0.24. M&T Bank had a return on equity of 10.35% and a net margin of 20.44%. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the prior year, the firm posted $3.73 EPS. As a group, analysts anticipate that M&T Bank will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 2nd were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Monday, June 2nd. M&T Bank's payout ratio is 34.97%.

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.