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

Key Points

• Wall Street is cautious on M&T Bank: The stock has an average analyst rating of "Hold" from 21 analysts, with 12 holds, 8 buys, and 1 sell. The average 12-month price target is about $235.58.
• Recent earnings topped expectations: M&T Bank reported quarterly EPS of $4.18, beating the consensus estimate of $4.02, while revenue of $2.44 billion also slightly exceeded forecasts.
• Shareholders are getting capital returns: The bank announced a quarterly dividend of $1.50 per share and approved a $5 billion stock repurchase program, signaling confidence in the stock's value.

Shares of M&T Bank Corporation (NYSE:MTB - Get Free Report) have been given an average recommendation of "Hold" by the twenty-one analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $235.5789.

Several analysts have commented on MTB shares. Cantor Fitzgerald decreased their price target on shares of M&T Bank from $255.00 to $253.00 and set an "overweight" rating on the stock in a research note on Friday, April 17th. UBS Group set a $235.00 price target on shares of M&T Bank in a research note on Thursday, April 16th. Jefferies Financial Group boosted their price target on shares of M&T Bank from $255.00 to $265.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. JPMorgan Chase & Co. decreased their price target on shares of M&T Bank from $231.50 to $227.00 and set a "neutral" rating on the stock in a research note on Thursday, April 30th. Finally, Piper Sandler boosted their price target on shares of M&T Bank from $235.00 to $240.00 and gave the stock an "overweight" rating in a research note on Thursday, April 16th.

Insider Buying and Selling

In other M&T Bank news, EVP Christopher E. Kay sold 3,105 shares of the business's stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $216.50, for a total value of $672,232.50. Following the sale, the executive vice president owned 6,753 shares in the company, valued at $1,462,024.50. The trade was a 31.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.44% of the stock is currently owned by insiders.

Institutional Trading of M&T Bank

Several hedge funds have recently bought and sold shares of the stock. Bogart Wealth LLC increased its holdings in shares of M&T Bank by 233.3% in the 1st quarter. Bogart Wealth LLC now owns 120 shares of the financial services provider's stock worth $25,000 after buying an additional 84 shares during the last quarter. Triumph Capital Management bought a new stake in shares of M&T Bank in the 3rd quarter worth about $32,000. Elyxium Wealth LLC bought a new stake in shares of M&T Bank in the 4th quarter worth about $33,000. Ameriflex Group Inc. increased its holdings in shares of M&T Bank by 82.4% in the 3rd quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider's stock worth $37,000 after buying an additional 84 shares during the last quarter. Finally, Bank of Jackson Hole Trust increased its holdings in shares of M&T Bank by 38.7% in the 4th quarter. Bank of Jackson Hole Trust now owns 215 shares of the financial services provider's stock worth $43,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company's stock.

M&T Bank Stock Up 0.3%

MTB opened at $237.46 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.94 and a current ratio of 0.94. M&T Bank has a fifty-two week low of $174.76 and a fifty-two week high of $239.00. The firm's fifty day moving average is $218.54 and its 200 day moving average is $215.03. The stock has a market cap of $34.78 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 1.17 and a beta of 0.57.

M&T Bank (NYSE:MTB - Get Free Report) last released its earnings results on Wednesday, April 15th. The financial services provider reported $4.18 earnings per share for the quarter, beating analysts' consensus estimates of $4.02 by $0.16. M&T Bank had a net margin of 22.07% and a return on equity of 11.35%. The company had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.43 billion. During the same quarter in the previous year, the company earned $3.32 EPS. On average, sell-side analysts forecast that M&T Bank will post 18.8 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st will be paid a $1.50 dividend. The ex-dividend date is Monday, June 1st. This represents a $6.00 annualized dividend and a yield of 2.5%. M&T Bank's payout ratio is presently 33.59%.

M&T Bank announced that its Board of Directors has approved a stock repurchase program on Tuesday, March 31st that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 16.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

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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